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Paychex honored by Forbes for innovation

Rochester Business Journal
August 25, 2014

Paychex Inc. has been named to Forbes Magazine’s list of the World’s Most Innovative Companies.

The Penfield-based payroll and human resources services company made the list at No. 76, with more than 8 percent sales growth in the past year.

Its Innovation Premium, which is a measure of how much investors have bid up the stock price of a company above the value of its existing business based on expectations of future innovative results, was 35.

“We’re honored to be included among this list of great innovators,” said Martin Mucci, Paychex president and CEO. “Paychex is focused on delivering solutions to our clients that combine innovative technology with exceptional customer service—all while driving growth for the company and expanding the markets we serve.”

This is the company’s first appearance on the list, which has been published annually since 2011. It is the only company to make the list from the business and personal services industry.

Salesforce.com, with 36 percent sales growth in the last year, took the top spot on this year’s list. Its Innovation Premium was 76.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


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