Irish Payroll Software and Solutions Specialist, SD Worx, formerly Intelligo, Reports Strong 2022 Business Results
SD Worx CEO, Kobe Verdonck, and Intelligo Country Lead, Eimear Byrne, stand outside Intelligo's Dublin Office. Payroll software and solutions specialist Intelligo is now an SD Worx company, having been acquired by the European HR leader in 2022.
14 June 2023
SD Worx, formerly Intelligo, the payroll software and services company behind the award-winning payroll solution MegaPay, has reported strong 2022 financial results, with the Irish payroll leader's MegaPay On-Cloud and MegaPay Outsourced divisions continuing their impressive growth trajectory.
SD Worx CEO, Kobe Verdonck, and Intelligo Country Lead, Eimear Byrne, stand outside the Dublin Office. Payroll software and solutions specialist Intelligo is now an SD Worx company, having been acquired by the European HR leader in 2022.
Having won the Best Place to Work Award at the Workplace Excellence Awards 2023, the payroll provider — whose flagship MegaPay solution pays 20% of Ireland's corporate workforce — is also a finalist in five categories at the Global Payroll Awards 2023.
Acquired by European HR solutions leader SD Worx in 2022, they delivered an EBITDA margin of 24% on revenue growth of 20% for the year, evenly attributed to software and managed services. Staff costs remained at 60% of revenue and non-staff costs decreased by 23%, despite inflation and a headcount increase of 10%. To May this year, hiring is up by 17% to meet demand for MegaPay On-Cloud, the firm's cloud payroll solution.
Country Lead, Eimear Byrne, believes Intelligo's standing makes it easier for clients to embrace the cloud:
"We have built a reputation for exceptional software, HCM/ERP integration and payroll delivery, with our specialists highly regarded in the industry. MegaPay On-Cloud is seeing rapid uptake, with the market recognising that we've brought the full power, scalability and trust credentials of MegaPay to the cloud environment."
She anticipates expanded compliance and workplace transformation responsibilities to define payroll in the coming year:
"ESG-related compliance demands will only increase, with both Ireland and the UK prioritising regulatory settings that strengthen their knowledge workforces. Meanwhile, businesses need more from payroll as they seek to become talent destinations in a tough hiring market. These pressures imply expanded ESG, DEIB and employee engagement responsibilities for payroll."
Last year, SD Worx, formerly Intelligo, added gender pay gap reporting to MegaPay's core functionality, simplifying ESG workflows. Head of Customer Delivery, Gary Hayes, also sees remote and hybrid work as shaping Intelligo's payroll and HR offerings:
"MegaPay already supports distributed office, plant and branch structures, and we expect payroll to play an increasing role in distributed work compliance and administration. Our managed services division, MegaPay Outsourced, is seeing growth in payroll-adjacent admin services, while our clients are driving demand for new offerings. However, we are meticulous about bringing new solutions to market, with our Infosec and Risk Management Team, led by Paul O'Grady, currently working with our delivery specialists to stress test potential new solutions."