Chad Richison on product innovation
From Paycom Software Inc ($PAYC) Q1 2025 Earnings Call · · Castify Earnings Call
“GONE is the industry's first fully automated time off solution that decides all time off requests based on customizable guidelines set by the company's time off rules. According to a Forrester study, GONE's automation delivers an ROI of up to 800% for clients.”
On , Chad Richison, Founder, President, CEO & Chairman of the Board at Paycom Software, spoke about product innovation during Paycom Software Inc ($PAYC) Q1 2025 Earnings Call on Castify Earnings Call.
About Chad Richison
Chad Richison, founder and CEO of Paycom, said on the company’s Q2 2025 earnings call that the company’s voice-command AI tool, I Want, is “the biggest release since the company’s founding.” He stated that Paycom does not plan to charge clients directly for the tool, adding, “I really don’t think we need to charge for it directly because I want to spend my time helping clients achieve full utilization of the system rather than selling them on features.” Richison noted that the company frontloaded approximately $100 million in AI-focused capital expenditures in Q3 2025 to support the rollout of I Want, which he described as “the best way to do payroll for employees.” He also said that Paycom operates its own data centers and that the company’s AI spending was reflected in its third-quarter financials. On the Q4 2025 earnings call, Richison said the company “executed well against our 2025 plan exceeding our strategic and financial goals by focusing on full solution automation, client ROI achievement, and providing world-class service.” He reported that Paycom repurchased over 1.7 million shares of common stock in 2025 for a total of $370 million and paid approximately $85 million in cash dividends. Richison also described automation as “the future of our industry” and said Paycom’s single-database architecture and employee-first technology allow for “automated decisioning that is unmatched in our industry.” On the Q3 2025 call, he said that laying off employees “makes me sick to my stomach” and that he does not expect to go through that again.