Paychex Honored with Alexander Hamilton Awards for Excellence in Treasury Management
ROCHESTER, N.Y.--(BUSINESS WIRE)-- Paychex, Inc., a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses, has earned national recognition for its superior performance in enterprise risk management and retirement and benefits by receiving two Alexander Hamilton Awards. The awards are presented annually by Treasury & Risk magazine, a national business publication.
Paychex received the following honors:
-- Gold Winner - Enterprise Risk Management o RTI International and Honeywell International Inc. were silver and bronze winners, respectively -- Bronze Winner - Retirement and Benefits o Ford Motor Company and Thomson Reuters were gold and silver winners, respectively
The Paychex submissions for the awards detailed the ongoing execution of a peer review program to mitigate risk across the company, as well as the development of a model to identify potential retirement services customers among the Paychex payroll client base. Paychex serves approximately 51,000 401(k) clients, which means the company administers one in ten plans in the U.S. and is one of the largest recordkeepers in the U.S. based on number of plans serviced.
"We are honored by this recognition from Treasury & Risk," said Frank Fiorille, Paychex director of enterprise risk management. "It continues to validate the work we are doing in risk management. In fact, over the last four years, Paychex has ranked second in the total number of Alexander Hamilton awards presented - reinforcing the company's role as a leader in the risk industry."
A complete list of the 15th annual Alexander Hamilton Awards winners is available at www.treasuryandrisk.com.
About Treasury & Risk
Treasury & Risk magazine is a leading monthly business publication for senior financial executives. Treasury & Risk's Alexander Hamilton Summit, now in its 15th year, recognizes excellence in treasury management and finance at the nation's top companies and multinationals, and has served as a benchmarking standard for chronicling the best practices and evolution of treasury and finance departments. Over the years, the awards program has recognized flagship companies such as Cisco, Google, Honeywell, McDonald's, and Microsoft.
Paychex, Inc. (NASDAQ: PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex(R). Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 536,000 payroll clients nationwide as of May 31, 2010. For more information about Paychex and our products, visit www.paychex.com.
Source: Paychex, Inc.
Released November 10, 2010