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 …