Chad Richison is the person who identified the laggings in the used software for the payroll management in the human resource management system. After the years he spends as an employee, he observed all the techniques and he started to think to resolves the issues that existed in the available software. That spark is behind the initiation of the payroll company in America called Paycom Software Inc. He was not the only best technician and also the best entrepreneur too and he didn’t want to miss the opportunity of the real market value of twenty billion dollars in workforce management in the United States of America. Not only the core interest and also the mentioned market size was motivated and drove chad richison to focus on the new venture.Hence, he moved to the place Oklahoma and founded the company Paycom in the year 1998,starting to work to bring his dream true.
He has not started the company and brought it to a higher level of success in an easy way and he faced a lot of struggles on his path. Any business or the company that wants to start the fund is more important. It was difficult to focus completely on the concern if he was in another job. Hence he did not want to continue the job. But more importantly, a fund is needed hence hesold his house which was located in Denver. The fund he collected was not sufficient and he applied to do a small business loan and got received some funds. All together he collected enough funds to initiate his dream Paycom. He started to focus on rectifying the laggings identified based on his earlier experiences. He started to design the templates of the forms that were used in the payroll companies. Also, he used the online interfaces too along with simple tools like MS Word, Paint, and Lotus Notes. He managed well the workflow of the company in the initial phase and that may be the first step to success.