Paychex Honored for Enterprise Risk Management Practices
RIMS and NACHA recognize Paychex for best practices in risk 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 been recognized by the Risk and Insurance Management Society, Inc. (RIMS) for innovation in risk management, and by NACHA - The Electronic Payments Association for best practices in electronic fund transfers using Automated Clearing House (ACH) processing.
"The recognition Paychex received from NACHA and RIMS, two of the industry's leading associations, affirms the great work being done by our risk management group," said Frank Fiorille, director of enterprise risk management for Paychex. "Our efforts in this area have had a positive impact on our business and enhanced shareholder value."
At the RIMS 2010 Annual Conference & Exhibition, Paychex was presented with the Arthur Quern Quality Award for its work in the field of predictive modeling within the enterprise risk management program. The award acknowledges innovation in the risk management industry that has contributed to increased quality in products, services, and enterprise risk management within an organization.
Paychex received the 2010 Kevin O'Brien ACH Quality Award from NACHA at the organization's PAYMENTS 2010 Conference. The award, presented annually, recognizes best practices in ACH participants' efforts to maintain and improve the quality of ACH services and the integrity and reliability of the ACH Network. Paychex was honored with the award for its accomplishments in credit risk management.
About Paychex
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, health insurance, workers' compensation administration, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 554,000 payroll clients nationwide as of May 31, 2009. For more information about Paychex and our products, visit www.paychex.com.
About the Risk and Insurance Management Society, Inc.
As the world's preeminent organization dedicated to advancing the practice of risk management, the Risk and Insurance Management Society, Inc. (RIMS) is a not-for-profit organization representing more than 3,500 industrial, service, nonprofit, charitable, and government entities globally. Founded in 1950, RIMS brings networking, professional development, and education opportunities to its membership of more than 10,000 risk management professionals, 85 percent of whom work for Fortune 500 companies or corporations. RIMS hosts an annual conference that boasts more than 400 exhibitors and attracts more than 10,000 attendees. For more information on RIMS, visits www.RIMS.org.
Source: Paychex, Inc.
Released May 17, 2010