History And Nature Of Business

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I. COMPANY PROFILE A. History and Nature of business: a. History: • Automatic Data Processing Inc (ADP) is a company that first founded under the name Automatic Payrolls by Henry Taub in 1949. From a company that first offered payroll services, ADP became one of the pioneers in providing business outsourcing, a concept that was still foreign to businesses of during that time. Realizing the inefficiency of current payroll activities, more companies came to ADP for the services, as demand grew higher, the company also accelerated. The Automatic Payrolls company, combined with another branch called Automatic Tabulating that offered calculating services for businesses in the area, such as bowling scores, that Henry launched in 1956. b.…show more content…
Some of the solutions are RUN Powered by ADP, an online payroll and taxation service that helps employers with time-tracking, retirement and health benefits planning or ADP Vantage HCM which is for larger businesses. ADP Vantage HCM provides larger businesses better measurement and analysis of hiring, managing and rewarding processes. Other solutions, ADP Workforce Now, Global View, ADP SmartCompliance, HR Outsourcing, offer from payroll and tax benefits to risk-minimizing services, and other employee programs. • “Employer Services ' revenues, as reported, increased 3% for the six months ended December 31, 2015, as compared to the six months ended December 31, 2014. Revenues increased due to new business started during the past twelve months from new business bookings, the impact of price increases, and an increase in the number of employees on our clients’ payrolls as our pays per control increased 2.4% for the six months ended December 31, 2015 as compared to the six months endedDecember 31, 2014. These increases were partially offset by the impacts of client losses and foreign currency translation. Our worldwide client revenue retention rate for the six months ended December 31, 2015 decreased 140 basis points as compared to our rate for the six months ended December 31, 2014 due to elevated losses on our legacy platforms.” (ADP Quarter Report) • ADP also offers the Professional Employer Organization services. That is, businesses can
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