A Wellington company targeting SMBs with its cloud-based payroll solutions has clocked up $2 billion worth of transactions, and is now processing over $75,000 every hour, 24 hours a day, seven days a week.

The company, SmartPayroll, pays wages, makes deductions such as PAYE and Kiwisaver, and files paperwork with the Inland Revenue Department, all in the cloud.

Asantha Wijeyeratne, CEO of SmartPayroll, says the team serves over 4000 SMBs in New Zealand, managing payroll for around 40,000 employees.

"Just like Xero in the accounting software arena, we are leading the transition from PC-based solutions to cloud-based solutions in the SMB payroll arena,” Wijeyeratne says.

The business was established five years ago, and the second billion was achieved in half the time of the first.

Wijeyeratne says part of the success is commitment to customer service, as well as the advantage of operating in the cloud, which was particularly important for Christchurch-based customers at the time of the earthquake earlier this year.

"Business owners had enough to think about at that time without worrying about how to keep paying their staff, so we made a public offer to help any company do that, whether they were a client or not.

Go here for more on SmartPayroll.