Payroll and HR solutions provider SD Worx Ireland is investing €3m to expand its payroll offering and roll the service out to small and medium-sized enterprises (SMEs) in Ireland.
Historically servicing medium and large enterprises of over 250 employees, SD Worx said its payroll solution is now available to SMEs across all industries.
The investment will span five years across technology, services, and people within SD Worx Ireland.
During this timeframe, the company is forecasting that 20% of its business will stem from SMEs and expects revenue growth from the SME sector of 60% a year.
The company said its investment covers the establishment of a dedicated team to support SMEs in Ireland, customisation of operational design, and technology upgrades.
It said the demand for the service among SMEs in Ireland is due to new reporting regulation for small and medium enterprises, such as gender pay gap reporting.
It said this requires increased payroll visibility and accuracy and applies to SMEs with over 150 employees for the first time this year, and those with more than 50 employees in 2025.
Legislation relating to statutory sick pay and upcoming auto-enrolment for pensions also brings additional administration, meaning smaller businesses may not have the necessary internal resources to keep pace with the rate of change, it added.
In February, SD Worx announced plans to create 40 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 has been operating in Ireland for nearly 30 years, previously as Intelligo, until it was acquired by SD Worx in 2022. Its payroll solution pays one in five employees in Ireland's corporate sector.
Eimear Byrne, Country Lead at SD Worx Ireland, said the company has scaled up its capabilities so that businesses who may lack the necessary internal resources can keep pace with evolving payroll trends and requirements.
"SD Worx aims to empower SMEs to focus on their core business activities while leaving the complexities of payroll management to trusted professionals. 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," Ms Byrne said.
She said that 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," she added.
