Paychex’s Ambitions to Capture Larger Clients Are Spearheaded by Its Acquisition of Paycor

Paychex is a leading payroll and human capital management provider. Although the firm's average customer size of fewer than 20 employees implies a customer base that skews very small, Paychex has successfully tailored its platforms to solidify its position as a dominant provider in its target markets. The company operates two segments: management solutions and professional employer organization, or PEO, and insurance solutions.