Nov 5 (Reuters) - Payroll processor Paycom Software PAYC.N posted slower growth in third-quarter revenue on Wednesday, as businesses slowed spending on HR and payroll software due to tighter enterprise budgets.

Shares of the Oklahoma City-based company fell more than 9% in after-market trading.

For the third-quarter ended September 30, Paycom reported revenue growth of 9%, compared to growth of 11% in the same period last year.

Payroll software companies are grappling with slower growth and lower usage volumes as firms move to reduce headcount and scale back software budgets to save on costs amid global macroeconomic uncertainty.

While Paycom has sought to differentiate its offerings with automation and AI-integrated employee-focused tools, peers have also rolled out similar capabilities and features.

Paycom offers a broad product suite and tools, including the employee-focused payroll software Beti and the AI-driven IWant tool, which helps employers track and manage workforce tasks.

The company faces strong competition from larger human capital management vendors such as Automatic Data Processing ADP.O, Workday WDAY.O and Paychex PAYX.O.

Paycom reported third-quarter revenue of $493.3 million, roughly in line with analysts' average expectation of $493 million, according to data compiled by LSEG.

Adjusted earnings came in at $1.94 per share, below estimates of $1.95 per share.

The company reiterated its annual revenue forecast.

(Reporting by Juby Babu in Mexico City and Arnav Mishra in Bengaluru; Editing by Alan Barona)

((Arnav.Mishra@thomsonreuters.com;))