automatic data processing (ADP) Key Developments
Diamond Parking Service Boosts Operational Efficiency with ADP Human Capital Management System
Mar 13 14
ADP announced that Diamond Parking Service implemented its ADP Workforce Now platform to simplify payroll and other HR processes for the company's nearly 1,000 employees. Seattle-based Diamond Parking Service sought to upgrade its 15-year-old HR/payroll software to a more reliable, efficient system. The company also wanted a modern system that offered self-service and mobile functionality while supporting all core HR processes, including recruiting, benefits administration and talent management.
Regina R. Lee to Retire from Automatic Data Processing, Inc., Effective December 31, 2014
Mar 3 14
On March 3, 2014, Automatic Data Processing, Inc. announced that Regina R. Lee would be retiring effective December 31, 2014.
Automatic Data Processing, Inc. Announces the General Availability of AdvancedInsight
Feb 25 14
Automatic Data Processing, Inc. announced the general availability of AdvancedInsight(TM), a reporting suite to help physicians and their employees gain enhanced visibility into the financial health of their practices. At a time when the percentage of doctors operating in independent practices has dropped from 57% in 2000 to 39% today, AdvancedInsight can help practices make sound financial decisions while they also contend with ACOs, meaningful use, ICD-10 and ongoing reimbursement reductions. As private practices shift to preventive medicine, business intelligence and big data will become an indispensable part of running a profitable practice and, at the same time, providing the high quality of care to patients. With new technology like AdvancedInsight, doctors will be able to identify their at-risk patients, track and manage patients more closely, monitor the spread of diseases and take preventive measures to keep patients from graduating to chronic diseases. Through the AdvancedMD multi-tenant cloud, smaller independent practices will be able to access big data and business intelligence, previously reserved for hospitals and other enterprise-level systems. Private practitioners will be able to make informed financial decisions based on accurate, real-time data, and with a 360-degree view of their practice's financial health and key performance indicators. With AdvancedInsight, practice administrators, billing staff and physicians can monitor claims outcomes by procedure, provider, practice or payer performance. A simple and easy interface lets users build custom reports and perform detailed drill-down analysis in a few clicks. This enables practice administrators and billing staff to take the necessary action to continually improve financial performance. AdvancedInsight is available and includes such key features as: Full view into financial health of a practice; Trend revenue-driving key performance indicators; Ability to view information by practice, provider, carrier or location; Quickly and easily build reports in a couple of clicks, save, search and print.
Automatic Data Processing Mulls Acquisitions
Feb 5 14
Automatic Data Processing, Inc. (NasdaqGS:ADP) has capital and is open to acquisitions if they fit its long-term strategy, said Carlos Rodriguez, President and Chief Executive Officer of Automatic Data.
Automatic Data Processing, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2013; Revised Revenue Guidance for 2014 and Re-Affirms Earnings Guidance for 2014
Feb 5 14
Automatic Data Processing, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2013. For the quarter, the company reported net earnings of $377.0 million or $0.78 diluted earnings per share on total revenues of $2,982.8 million compared to net earnings of $390.9 million or $0.80 diluted earnings per share on total revenues of $2,747.8 million for the corresponding period last year. Net earnings from continuing operations were $377.0 million against $352.0 million of prior year period.
For the six months, the company reported net earnings of $705.6 million or $1.46 diluted earnings per share on total revenues of $5,822.5 million compared to net earnings of $696.1 million or $1.43 diluted earnings per share on total revenues of $5,385.3 million for the corresponding period last year. Net earnings from continuing operations were $705.6 million against $654.4 million of prior year period.
The company provided earnings guidance for the year 2014. The company forecasts, revenues to reach 7% to 8% growth, compared with prior forecast of about 7% growth-- includes approximately 0.5 percentage points of anticipated drag for the year related to the decline in interest on client funds from a continued low interest rate environment, partially offset by the forecasted growth in average client funds balances; pretax margins slight improvement in pretax margin from the adjusted 18.8% in fiscal 2013, consistent with prior forecast; effective tax rate about flat with the adjusted 33.9% in fiscal 2013, consistent with its prior forecast; diluted earnings per share from continuing operations 8% to 10% growth compared to the adjusted $2.89 in fiscal 2013, consistent with prior forecast. The lower contribution from the client funds extended investment strategy is expected to reduce earnings per share growth $0.07 to $0.08, or 2% to 3%.