Paychex Honored with Alexander Hamilton Awards For Excellence in Treasury and Financial Management
ROCHESTER, N.Y.--(BUSINESS WIRE)-- Paychex, Inc. has earned national recognition for its superior performance in risk management by receiving two Alexander Hamilton Awards for Excellence. The awards are presented annually by Treasury & Risk magazine, a national business publication. The magazine presents the awards in eleven categories in recognition of industry best practices.
Paychex received the following honors:
* Gold Winner - Credit Risk Management
o Hussmann Corp. and General Electric Co. were silver and bronze winners, respectively
* Bronze Winner - Enterprise Risk Management
o RTI International and Microsoft Corp. were gold and silver winners, respectively
"Paychex is proud to continue to add to shareholder value by having a top-notch enterprise risk management program," said John Morphy, Paychex senior vice president and chief financial officer. "These awards are a tribute to the excellent job done by the Paychex risk management team."
The Paychex submission for the awards detailed the ongoing development of a leading-edge credit risk management program - a program that has resulted in a significant reduction of losses for the company.
"Paychex is truly honored to be recognized once again with these prestigious awards," said Frank Fiorille, Paychex director of enterprise risk management. "It is wonderful to see how managing risk effectively can help drive business performance and seize opportunities."
A complete list of the 13th annual Alexander Hamilton Awards for Excellence winners can be found at www.treasuryandrisk.com.
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 and serves over 572,000 payroll clients nationwide. For more information about Paychex and our products, visit www.paychex.com.
About Treasury & Risk Magazine
With headquarters in New York City, Treasury & Risk magazine covers trends and best practices in finance for a readership of 47,000 CFOs, treasurers, controllers, and other senior finance executives working at the nation's largest companies. Along with the magazine, the expanding Treasury & Risk media franchise also produces e-newsletters, in-depth proprietary surveys on the various trends in finance, Webcasts, a senior-level conference series, and the 13-year old Alexander Hamilton Awards program honoring excellence in treasury and financial management.
Source: Paychex, Inc.
Released November 25, 2008