SD Worx Ireland has announced it is investing €3m to extend its payroll offering to small and medium-sized enterprises in Ireland.
Historically, the company has only worked with medium and large-sized enterprises employing more than 250 people, but SD Worx has forecast that 20% of its business will stem from SMEs.
The investment will be made over five years across technology, services and staffing, and the company expects to grow its SME customer base to 50 in the next year with revenue from such businesses likely to increase by 60%.
Driving the demand for the service among SMEs in Ireland are new reporting regulations, such as gender pay gap reporting, which requires increased payroll visibility and accuracy.
The regulations apply to SMEs with over 150 employees for the first time this year, and those with more than 50 employees in 2025.
Meanwhile, smaller businesses may not have the internal resources to handle additional administration required by new legislation relating to statutory sick pay and upcoming auto-enrolment for pensions.
Research from SD Worx found that a quarter (25%) of businesses in Ireland are finding payroll handling more difficult due to movement of personnel within their organisation.
Administration of employee presence and absence (cited by 56%) was ranked as the process that complicates payroll the most. Data collection and access to, or integration of, data sources was also signalled as a challenge by 51% of organisations.
The €3m investment is intended to ensure all clients can have access to the same resources with the establishment of a dedicated SME team, customisation of operational design and technology upgrades.
“We have scaled up our own capabilities so that businesses who may lack the necessary internal resources can keep pace with evolving payroll trends and requirements,” said Eimear Byrne, country lead at SD Worx Ireland.
“Our new offering means that amid intense competition for top talent, increasing regulations and rising costs, SMEs can continue to grow and thrive with on-hand payroll support and cost certainty.
“SMEs can often be stretched in terms of resources and this enhanced service will provide peace of mind for those who seek the reliability we offer by never missing a pay date or Revenue submission.
“The service will also guarantee that SMEs are compliant with regulations and effectively safeguarding confidential company and employee data. We are looking forward to working closely with organisations in the SME space to drive value and underpin their continued success.”
In February, SD Worx announced that it will create 40 new jobs in Ireland in the next two years, growing its team to 115 as part of a €2.9m investment in its workforce.
The company previously operated as Intelligo until its acquisition by Belgium’s SD Worx in 2022.
Photo: Eimear Byrne. (Pic: Supplied)
