Accounts Receivable Management Featured Article

Paychex Makes Solid Progress in Q2 2012

January 02, 2013

Obviously things are going very well for Paychex, Inc., a provider of payroll, human resource and benefits outsourcing solutions, for it has experienced positive trends on all fronts. Even Martin Mucci (News - Alert), president and CEO, appeared to agree about the company’s solid progress in the second quarter of 2012.

Paychex’s total services revenue increased with gains on both fronts- payroll services revenue grew at a modest 1.4 percent and this was attributed chiefly to the impact by client disruptions from Hurricane Sandy, while the double digit growth in human resources revenue was said to be an offshoot of the company’s success in selling value-added solutions to its clients.

The total revenue for Q2, ending November 30, 2012, and total revenue for six months ending the same period, showed an increase when compared to the respective year ago periods.

In addition, the company said that its payroll check business was strong and moving ahead and its client retention levels were high as employees’ commitment to client satisfaction peaked.

The New York based company indicated that its income for the quarter ending November 30, 2012 was $147.9 million, or 41 cents per share, compared to $140.4 million, or 39 cents per share for the same year ago period. The net income for six months ending the same period was again higher than that of the six months ending November 30, 2011. Share prices also showed a marginal rise.

Another achievement was the acquisition of ExpenseWire, an online expense management solution and the introduction of the company’s industry-leading online client report center.

"We are seeing good results from our selling efforts in the small business market and are well-positioned for our peak selling season,” observed Mucci, on a very optimistic note, indicating that it may well be the trend for the coming year.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Miami 2013, Jan 29- Feb. 1 in Miami, Florida.  Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.




Edited by Rich Steeves

Article comments powered by Disqus

Related Accounts Receivable Management Articles

CollaborateMD Helps Medical Practices with Growing Patient Receivables

Anyone who has visited a doctor's office, or has spoken to a healthcare practitioner, knows that a top-of-mind concern of medical practitioners is getting paid in a timely manner. It is clear when visiting an office that whether it is the routine of first handing over insurance info or providing a credit card if insurance does not cover a visit or procedure that obtaining assurance of timely payment for services rendered is not just a challenge but a growing one based on the way things used to b… [ Read More ]
05/21/2015

Epicor and e2b teknologies Announce Hosted Accounts Receivable Software

The cloud and hosted applications are no strangers, it seems, to any market. One of the most recent additions to the global collection of hosted applications comes from Epicor with its Cash Collect accounts receivable software. [ Read More ]
05/20/2015

Accounting Technology the Source of Most CFO Concerns

According to a recent survey conducted by Robert Half International (RHI), a majority of chief financial officers (CFO) cited technology related issues as the single greatest pressure facing their accounting function. While all industries are more or less subject to advances in technology, accounting is even more deeply affected. [ Read More ]
05/12/2015

Interactive Launches New Student Loan Debt Collector Service

Interactive Intelligence Group, already a global provider of collaboration, communications and customer engagement software has just announced the release of the brand new Interaction Collector for student loans. This particular solution is aimed at making it that much easier for companies to automate the debt collection process. This in turn will lead to fewer problems and mistakes along the way. [ Read More ]
05/11/2015

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!