• The Intuit for businesses' payroll and HR needs.

• The AWS of payroll and HR.

• H&R Block for businesses' employee payroll and tax filings.

• Payroll Processing: Core service involving the calculation, processing, and distribution of employee wages, taxes, and deductions.
• HR Management (HCM) Solutions: Integrated platforms that manage human resources functions such as employee data, recruitment, onboarding, performance, and learning.
• Benefits Administration: Services for managing employee health, retirement, and other benefit plans, including enrollment, tracking, and compliance.
• Time and Attendance Tracking: Systems and software for employees to record work hours, manage shifts, and track leave.
• Tax and Compliance Services: Handling payroll tax filing, ensuring adherence to labor laws, and providing regulatory reporting.
• Professional Employer Organization (PEO) Services: A co-employment model where ADP handles comprehensive HR, payroll, benefits, and compliance for small and medium-sized businesses.

Automatic Data Processing (symbol: ADP) primarily sells its human capital management (HCM) solutions to other companies (Business-to-Business or B2B).

Due to the nature of its business as a service provider to millions of organizations worldwide, ADP does not typically disclose specific "major customer companies" by name. Its customer base is highly diverse across industries and sizes, with no single client or small group of clients representing a significant portion of its revenue. Client confidentiality agreements also preclude the disclosure of specific customer names.

Instead, ADP categorizes its broad customer segments based on company size. These categories represent the types of businesses that are ADP's customers:

• Small Businesses: Companies with 1-49 employees.
• Mid-Market Businesses: Companies with 50-999 employees.
• Large Enterprise Businesses: Companies with 1,000 or more employees.

Maria Black, President and Chief Executive Officer

Maria Black has served as the President, Director, and Chief Executive Officer of ADP since January 2023. She joined ADP in 1996 as a sales associate in Small Business Services, gaining foundational experience by selling payroll door-to-door. Throughout her career at ADP, she has held various executive leadership roles, including President of Worldwide Sales and Marketing (March 2020 - December 2021), President of Small Business Solutions and Human Resources Outsourcing (January 2017 - February 2020), President of ADP TotalSource (July 2014 - December 2016), and General Manager of ADP United Kingdom (April 2013 - June 2014). Black also served as the General Manager of Employer Services, TotalSource Western Central Region from January 2008 to March 2013. She is committed to delivering insightful technology and solutions, fostering collaboration, and empowering ADP's associates.

Peter Hadley, Chief Financial Officer

Peter Hadley was appointed Chief Financial Officer of ADP, effective July 1, 2025. He joined ADP in 2002 and has held increasingly senior executive leadership positions within the company. Most recently, he served as Corporate Vice President and Treasurer of ADP from October 2022 to June 2025, overseeing capital structure, client funds investment portfolio, funding of global operations, capital markets activities, investor relations, and corporate insurance programs. From November 2017 to September 2022, Hadley was President of Asia Pacific, responsible for ADP's business operations, strategy, and business development in the region. Prior to this, he served as CFO for ADP's Global Enterprise Solutions and Employer Services International. Before joining ADP, Mr. Hadley held various roles at KPMG in the United Kingdom and Arthur Andersen in Australia.

Chris D'Ambrosio, Chief Strategy Officer

Chris D'Ambrosio has been the Chief Strategy Officer of ADP since June 2021. Before this role, he served as the Senior Vice President and General Manager of Insurance Services, Small Business Services from January 2019 to June 2021.

Gus Blanchard, Chief Marketing Officer

Gus Blanchard has served as ADP's Chief Marketing Officer since 2021.

Sreeni Kutam, President, Global Product & Innovation

Sreeni Kutam holds the title of President, Global Product & Innovation at ADP.

The emergence of agile, cloud-native Human Capital Management (HCM) platforms and Employer of Record (EOR) services represents a clear emerging threat. Companies such as Rippling, Gusto, Deel, and Remote.com are gaining significant market share by offering highly integrated, user-friendly solutions that often extend beyond traditional HR to include IT and finance functionalities, or specialize in the complexities of global, distributed workforces. These platforms leverage modern technology stacks to provide more flexible, intuitive, and sometimes more cost-effective services, particularly appealing to small to medium-sized businesses and companies with international remote employees. This directly challenges ADP's comprehensive but more traditional service model, impacting its ability to compete on agility, specific feature sets, and user experience for a growing segment of modern businesses.

Automatic Data Processing (ADP) operates within several large addressable markets, primarily focused on human capital management (HCM) solutions, payroll services, and HR outsourcing.

Human Capital Management (HCM) Solutions

The total addressable market (TAM) for global HCM software and services is conservatively estimated to be over US$180 billion. More specifically, the global human resource (HR) software market was valued at $50.0 billion in 2024 and is projected to grow to $54.19 billion in 2025. This market is expected to reach $73.95 billion by 2029. In North America, the HCM market size was valued at USD 9.71 billion in 2024.

Payroll Services and Software

The global payroll services market is estimated at $32.6 billion in 2025 and is forecast to reach $51.4 billion by 2030. For payroll software specifically, the global market reached $8.4 billion in 2024 and is projected to grow to $11.1 billion by 2029. Combining HR and payroll software, the global HR payroll software market was valued at approximately $35.26 billion in 2024. The U.S. HR and payroll software market alone was valued at $20.6 billion in 2024.

HR Outsourcing (HRO)

The global Human Resource Outsourcing (HRO) market was valued at USD 261.70 billion in 2024 and is anticipated to reach $470.7 billion by 2035. Another estimate places the HRO market at USD 235.2 billion in 2023, with a projection to reach USD 380.0 billion by 2032. North America holds a significant share, with the U.S. HR outsourcing market valued at $10.8 billion in 2024.

1. Growth in New Business Bookings and Client Retention: ADP anticipates continued revenue growth through its ability to secure new clients across both its Employer Services and Professional Employer Organization (PEO) segments, coupled with robust client retention rates. The company reported record sales volume for Employer Services new business bookings in Q1 fiscal year 2026 and strong PEO new business bookings growth in Q4 fiscal year 2025. Maintaining high client satisfaction levels is expected to support strong retention results.
2. Increase in Worksite Employees (WSEs) and Pays per Control (PPC): Revenue expansion is driven by the growth in the number of employees that ADP processes for its clients. In Q1 fiscal year 2026, average worksite employees paid by PEO Services increased by 2%. Similarly, Employer Services pays per control grew by 2% in Q1 fiscal year 2025. This indicates that clients are hiring at a moderate pace, contributing to higher service fees for ADP.
3. Client Funds Interest Revenue Growth: ADP benefits from interest earned on funds held for clients. This revenue stream has shown significant growth, with a 13% increase in Q1 fiscal year 2026 and a 16% increase for the full fiscal year 2025, driven by rising average client funds balances. ADP has also increased its full-year forecast for client funds interest revenue for fiscal year 2026.
4. Strategic Acquisitions and Product Innovation: ADP is actively investing in expanding its product ecosystem through strategic acquisitions and internal innovation. The company acquired WorkForce Software to enhance time and attendance, absence management, and scheduling tools, and Pequity to broaden compensation management capabilities. Furthermore, ADP is driving innovation with platforms like ADP Lyric HCM, which has seen strong momentum and increased client adoption, and by integrating AI-driven solutions such as ADP Assist to enhance operational efficiency and client value.
5. International Expansion: ADP continues to pursue growth by expanding its global payroll capabilities and market presence. Strategic initiatives include expanding into new regions like Japan and Saudi Arabia and acquiring companies such as PEI in Mexico to strengthen its international footprint. This geographical expansion contributes to broadening ADP's client base and revenue streams.