ADP Company Profile
ADP (Automatic Data Processing) was founded in 1949 by Henry Taub in Paterson, New Jersey as Automatic Payrolls, Inc. The first ADP office, above Grinker?s Ice Cream shop, processed payroll manually with a bookkeeping machine, addressograph equipment, calculators and comptometers. The company's first full-time salesman was future U.S. Senator Frank Lautenberg who joined in that capacity in January 1954. The company?s first account was New Era Dye and Finishing in Fair Lawn, New Jersey. With the introduction of punched card machines, mainframe computers and check printing machines, Automatic Payrolls became Automatic Data Processing in 1958.
ADP became a public company in 1961, with an initial stock price of $3. In the next year, Brokerage Services division was developed to serve the high volume transaction needs of major stock brokerages on Wall Street. The company proceeded to offer Dealer Services to automotive dealers to handle inventory and accounting transactions. In 1974, ADP extended into the international market with an office in The Netherlands,and London and later in the decade added Claims Services. In 1975, ADP acquired The Cyphernetics Corporation, a timesharing business headquartered in Ann Arbor, MI.Cyphernetics
Today, ADP employs more than 42,000 associates globally, who serve for more than 570,000 companies of all sizes ? small, mid-market and enterprise.
ADP is one of the world's largest providers of business outsourcing, with operations in many countries.
Automatic Data Processing, Inc. (NASDAQ: ADP), with nearly $9 billion in revenues and over 585,000 clients, is one of the world's largest providers of business outsourcing solutions. Leveraging nearly 60 years of experience, ADP offers the widest range of HR, payroll, tax and benefits administration solutions from a single source. ADP's easy-to-use solutions for employers provide superior value to organizations of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine and recreational vehicle dealers throughout the world.
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