According to most recent statistics from the Central Statistics Office, SD Worx Ireland currently cover about 17pc of the national workforce, or close to 400,000 people.
The firm is now aiming to increase that share to 25pc over the next five years, as demand grows among employers dealing with new regulatory requirements.
The firm, which is located in Bray, reported revenue growth of 26pc last year and stated it now provides payroll services to around 450 organisations in Ireland. It also reported a customer retention rate of close to 99pc.
The firm said demand for its services has increased as employers face more reporting rules. These include requirements related to tax, pension auto-enrolment and gender pay gap reporting all of which have added to the administrative workload for businesses in Ireland.
Businesses are increasingly turning to external providers to manage payroll and ensure staff are paid accurately and on time, the company said.
Companies are also under pressure to avoid errors or missed reporting deadlines. SD Worx said its MegaPay system allows employers to automate payroll calculations and generate required reports, reducing the need for manual labour.
The company provides payroll services to employers across a range of sectors, including hospitality, healthcare, pharmaceuticals, retail and financial services, including some of the largest employers in the country.
It said further growth is expected in the small and medium-sized enterprise (SME) sector following a €3 million investment to expand its services for smaller firms. These businesses make up a significant share of employment in Ireland and are more likely to outsource payroll functions.
Managing director Eimear Byrne said: “As the regulatory landscape rapidly changes, robust, reliable, and accurate payroll is a fundamental requirement for every business that must be prioritised.
“As we all lead rich lives outside of the workplace, on-time payment is the very minimum that employees should expect, and we pride ourselves on the fact that we have never missed a pay date or submission.”
She added that: “An increasing number of organisations do not have the in-house resources to keep pace with the evolving requirements of modern work environments.”
SD Worx Ireland is part of a European group that provides HR and payroll services to around 100,000 organisations and processes salaries for approximately six million employees.