SD Worx invests €3m in payroll services for SMEs

Reporting standards creates opportunities for payroll and HR services provider

Trade

Eimear Byrne, SD Worx

Payroll and HR solutions provider SD Worx is investing €3 million over five years to expand its payroll offering and roll the service out to small and medium-sized enterprises (SMEs) in Ireland.

Driving the demand for the service among SMEs in Ireland are new reporting regulations, such as gender pay gap reporting. This requires increased payroll visibility and accuracy and applies to SMEs with more than 150 employees for the first time this year, and those with more than 50 employees in 2025.

Meanwhile, legislation relating to statutory sick pay and upcoming auto-enrolment for pensions brings additional administration, meaning smaller businesses may not have the necessary internal resources to keep pace with the rate of change.

In addition to these challenges, according to SD Worx’s Payroll Proficiency in Ireland report, the movement of personnel within organisations, such as joiners or leavers, is making payroll handling more difficult for a quarter (25%) of businesses in Ireland. The 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 company expects to grow its customer base by up to 50 SMEs in sectors such as retail, hospitality, and construction, as well as customers in financial and professional services by the end of 2024.

In February, SD Worx announced that it will create 40 new jobs in Ireland, growing its team to 115 as part of a €2.9 million investment.

Eimear Byrne, country lead, SD Worx Ireland (pictured) said: “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. 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.

“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.”

TechCentral Reporters

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