London, April 04, 2024 – In an era where the Human Resource Management (HRM) market is booming and internal security threats such as employee theft are on the rise, ComplyCube, the leader in Identity Verification solutions, has partnered up with Emigreat, an emerging risk management tool for global HR compliance.
This strategic partnership is set to redefine international workforce management by offering enhanced security and efficiency in compliance processes tailored to the needs of a rapidly evolving global HR landscape.
Addressing Market Growth and Security Challenges
The HRM sector is anticipated to grow at a compound annual growth rate (CAGR) of 14.63%, reaching USD 69618.53 million by 2028. This rapid growth highlights the increasing need for innovative solutions that address both the complexities of global workforce management and the security challenges posed by internal threats, such as the 74% increase in employee theft from employers and customer accounts reported by Cifas in its latest Fraudscape update.
The HRM sector is anticipated to reach a market value of USD 69618.53 million by 2028.
Cutting-Edge IDV Tech for Enhanced Global HR Compliance Operations
The collaboration responds to the growing need for streamlined, secure, and efficient management of international employees’ legal requirements. ComplyCube’s cutting-edge ID verification technology will play a pivotal role in enhancing Emigreat’s offerings, allowing HR departments to automate identity verification processes seamlessly. This is particularly crucial for the accurate and timely management of new recruitments and permit renewals for international employees.
Emigreat, which was part of the Techstars ’23 cohort, provides a vital service in simplifying the complexities of international employee compliance. With the addition of ComplyCube’s technology, Emigreat will empower HR departments with enhanced ID verification capabilities, automated data extraction, and a secure platform to manage the legal compliance of their international workforce efficiently.
Setting New Standards in HR Compliance Technology
“Against the backdrop of a growing HRM market and heightened internal security concerns, our partnership with Emigreat represents a significant step forward. ComplyCube’s verification technology will enhance Emigreat’s capabilities, enabling businesses to address the dual challenges of managing a global workforce and mitigating internal fraud risks,” stated Dr. Tarek Nechma, CEO of ComplyCube.
“This collaboration comes at a critical time, as companies face not only the challenge of managing a global workforce but also the increased risk of internal fraud,” commented Saaya Sorrells-Weatherford, co-founder of Emigreat. “Through our partnership with ComplyCube, we’re setting a new standard for security and compliance in HR management, providing our clients with the tools they need to protect their businesses and their customers.”
We’re setting a new standard for security and compliance in HR management.
In light of the dynamic HRM market and increasing internal security challenges, the strategic partnership between ComplyCube and Emigreat marks a significant advancement in compliance technology, setting new standards for security and efficiency in global workforce management.
About ComplyCube
ComplyCube, the leading platform for Identity Verification (IDV), Anti-Money Laundering (AML), and Know Your Customer (KYC) compliance, is renowned for its rapid omnichannel integration and innovative solutions across various sectors. With an ISO-certified platform, ComplyCube is dedicated to simplifying and securing compliance, aiding businesses in navigating the evolving challenges of global workforce management.
About Emigreat
Emigreat streamlines the management of international employees’ immigration requirements for HR departments. Its comprehensive suite of services supports companies in ensuring their international workforce’s legal compliance with streamlined processes, deadline notifications, audits, requirement assessments, and automated updates.
