DEFINITION of 'Chief Technology Officer-CTO'. An executive who is responsible for the management of an organization's research and development (R&D) and technological needs. chief technology officer (CTO) examines the short-and long-term needs of an organization, and utilizes capital to make investments designed to help the organization reach its objectives. The CTO usually reports directly the chief executive officer (CEO) of the firm. Next Up.
About Paylocity. Paylocity is a provider of cloud-based payroll and human capital management, or HCM, software solutions for medium-sized organizations. Paylocityâs comprehensive and easy-to-use solutions enable its clients to manage their workforces more effectively.
It provides software and payroll outsourcing to help businesses manage their human capital. It targets mid-sized companies with 20 to 1,000 employees. Note that the market for human-capital management and payroll outsourcing services is expected to reach $22.5 billion this year. In this context, what is ahead of Paylocity's IPO? Source: Paylocity Paylocity has reported profits in the past two fiscal years, a rare case for companies in its sector. Last year, it had a revenue of $77.3 million. Plus, the company is currently expanding its market share and sales, which yielded a 40% increase in its revenue. Differentiation. The company currently differentiates itself as providing a high-quality service in a simple way.