ADP 2003 Annual Report Download - page 8

In fiscal 2003, ADP strengthened its market leadership
position by continuing to invest in innovative products,
services and processes through a down business cycle
— confident that robust growth opportunities will return as
the economy improves.
While many businesses followed conventional wisdom
and opted to wait for the economy to rebound, ADP’s deci-
sion was to invest and compete:
•We focused on our core businesses, consistently
seeking to leverage their strengths.
•We brought to market a new generation of reliable,
efficient and creative solutions in each of our
major businesses.
•We supplemented our internal growth through
selective acquisitions.
•We made a commitment to accelerate investment in
high-growth parts of our business.
•We renewed our long-term commitment to provide
World Class Service, ensuring that the client remains
at the focal point of everything we do.
•We reinforced our Employer of Choice initiatives,
enabling us to attract and retain the best-qualified
associates.
Our clients rewarded our performance this year with some
of the highest satisfaction scores in almost a decade.
Despite the difficult economy, more clients are staying with
us and expanding their relationship with ADP. Market
acceptance of outsourcing solutions remains positive and
future growth opportunities are present in all of our core
business markets.
Three specific market differentiators, amplified by cur-
rent economic conditions, continue to distinguish ADP
from the competition: our financial strength, our premier
products and our associates.
Our financial strength gives us the freedom and flexibil-
ity to remain on course with key investments in new prod-
ucts and services that help us to extend the reach and
penetration of our core businesses. We are proud to be
one of the most financially stable public companies in the
world. Rated AAA by Standard & Poor’s and Moody’s, ADP
is one of just seven U.S. industrial companies to earn these
highest ratings of financial confidence.
Our premier products provide reliable solutions that are
accompanied by responsive support and service. Many of
our products and services are Web-driven to deliver the
high levels of functionality and flexibility that clients of
every size and across every industry increasingly expect.
Our associates are the engine of our success and
embody our commitment to World Class Service. Each
and every day, they serve the needs of thousands of our
clients all around the world with knowledge, skill, reliability
and dedication — professional traits that are essential to a
World Class Service environment. Our associates are
ADP’s most precious resource because they create, sell
and service the business solutions that enable our clients
to focus more time on their own core businesses.
Core businesses are the heart of any enterprise and
are the primary source of a company’s revenues.
They gain their strength from core competencies —
what a company does best. Successful core businesses
build brand recognition, create value-added services and
serve as a portal to new opportunities in adjacent markets.
ADP leverages its core business strengths to gain
access to higher growth markets, develop opportunities to
increase revenue-per-client, initiate new relationships
and enhance our ability to increase client satisfaction
and retention.
Clients in 26 countries rely on ADP’s
payroll and other employer-related services.
building and
leveraging our core
business strength.
strong. confident. focus