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Paychex Acquires Time and Attendance Product Line; Paychex Purchases `Time in a Box' from Florida-based Stromberg.



Business Editors

ROCHESTER, N.Y.--(BUSINESS WIRE)--Oct. 16, 2003

Paychex, Inc., a leading national provider of payroll and human resource services, today announced that it has acquired the Time in a Box product line from Stromberg, a market leader in time and attendance and employee management solutions based in Lake Mary, Florida Lake Mary is a city in Seminole County, Florida, United States. The population was 11,458 at the 2000 census. As of 2006, the population recorded by the U.S. Census Bureau is 14,718. [1]. Lake Mary is part of the Orlando-Kissimmee Metropolitan Area. . Time in a Box is a Windows-based time and attendance solution for small- to medium-sized businesses.

"Paychex has reviewed a number of options, and we believe Time in a Box has the reputation and features that we're looking for Looking for

In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with.
 to provide new and existing clients with an enhanced product offering," said Walter Turek, senior vice president of sales and marketing for Paychex. "We consider the time and attendance market need to be significant, and Time in a Box offers the capabilities that businesses have been requesting of us."

The sale of Time in a Box to Paychex follows Stromberg's decision to focus solely on its higher end Coordinates:
For other places with the same name, see Billinge.
Higher End or Billinge Higher End is a district of the Metropolitan Borough of Wigan, in Greater Manchester, England.
 product for large organizations.

"The time was simply right for Stromberg to make a move and focus all of our efforts on our enterprise level product for large organizations," said Seth Bernstein, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  and president of Stromberg. "Small to mid-sized businesses looking for a time and attendance solution will be better served with a world-class organization like Paychex. This enables Stromberg to dedicate our efforts to meeting the complex time and attendance needs of large-sized companies."

Time in a Box interfaces with Paychex's Paylink(R) software, a desktop payroll solution for small- to medium-sized businesses, and Paychex's Major Market Services Preview(R) software, a PC-based option for larger businesses with more complex payroll and benefits needs. For more information about Time in a Box, businesses may call 877-225-8207.

About Paychex

Paychex, Inc. (NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
:PAYX) is a leading national 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 Payroll Tax

Tax an employer withholds and/or pays on behalf of their employees based on the wage or salary of the employee. In most countries, including the U.S., both state and federal authorities collect some form of payroll tax.
 administration, and employee pay services, including direct deposit, check signing, and Readychex(R). Human resource and benefits outsourcing services include 401(k) plan recordkeeping, workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work.  administration, section 125 plans, a professional employer organization A professional employer organization (PEO) provides outsourcing of payroll, workers' compensation, human resources and employee benefits administration. It does this by hiring a client company’s employees, thus becoming their employer of record. , and other administrative services for business. Paychex was founded in 1971. With headquarters in Rochester, New York This article is about the city of Rochester in Monroe County. For the town in Ulster County, see Rochester, Ulster County, New York.
Rochester, once known as The Flour City, and more recently as The Flower City or
, the company has more than 100 offices and serves approximately 490,000 payroll clients nationwide. For more information about Paychex and our products, visit www.paychex.com.

About Stromberg

Stromberg is a leading provider of enterprise time and attendance solutions. The Lake Mary, Florida based company is the only time and labor management vendor that specializes solely on time and attendance as well as scheduling for large companies. Stromberg products can help organizations proactively control labor costs, prepare accurate and timely payrolls, calculate labor analytics, manage human resources integration and much more. Additional information can be found at the company Web site www.stromberg.com.
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Publication:Business Wire
Date:Oct 16, 2003
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