Leading HRMS provider joins forces with actuarial experts to bring audit-ready compliance solutions directly into HR platforms, reducing valuation processing time from weeks to moments.
Riyadh, Saudi Arabia – KayanHR, a cloud-based Human Resource Management System, announced a strategic partnership with Prima Consulting, a financial and risk management consultancy specializing in IAS 19 actuarial valuations.
This collaboration will integrate Prima Consulting’s advanced IAS 19 System, delivered through its technology division IFRS Tech, directly into KayanHR's HRMS platform, providing organizations across the GCC and MENA regions with seamless access to audit-ready employee benefit valuations.
Partnership Leadership Team
The partnership announcement meeting was attended by key leadership from both organizations to finalize implementation and market delivery strategies.
Meeting attendees from KayanHR
Amer Abu Ghoush — CEO and Co-Founder
Mohamed Irshaid — COO and Co-Founder
Heba Dairieh — Product Manager
Khaled Issa — Sales Manager
Mera Awwad — Technical & Content Writer
Meeting attendees from Prima Consulting
Sumar Sayani — Director AI & Technology
Ibrahim Ahmed Zahidie — Director Advisory & Transformation
Shabih Ahmed Arif — Director Actuarial Services
Haris Siddique Budhani — Head of Marketing & Strategy
The Critical Need for IAS 19 Compliance
IAS 19, the International Accounting Standard governing employee benefits accounting, is mandatory for organizations in IFRS-compliant markets across Saudi Arabia, UAE, Qatar, Oman, Bahrain, and Kuwait.
Companies must accurately report employee benefits, including end-of-service benefits, pensions, and termination benefits.
In Saudi Arabia, end-of-service benefits represent a mandatory obligation under Labor Law, making accurate IAS 19 valuation essential for regulatory compliance and audit readiness.
Seamless Integration Benefits with IAS 19 Actuarial Valuation System
Phase 1: Streamlined Integration for Audit-Ready Valuations
In the first phase, users will be guided through a simplified integration process designed to deliver accurate and audit-ready EOSB and IAS 19 valuations. The focus is on ease of setup, automated calculations, and immediate access to valuation reports, minimizing manual work and ensuring compliance efficiency.
The system is powered by IFRS Tech, Prima Consulting’s dedicated actuarial technology division.
Phase 2: Seamless API and SSO Integration
The next phase introduces full-scale integration through API connectivity and single sign-on (SSO) functionality. Users will access Prima’s valuation capabilities, delivered via IFRS Tech’s platform, directly within their HR system, while real-time data synchronization eliminates manual input and reduces errors.
The integration reduces IAS 19 valuation processing time from traditional timeframes of days, weeks, or months to immediate results, enabling organizations to generate audit-ready reports within moments.
Built and maintained by IFRS Tech under Prima Consulting, the system processes up to 50,000 employees in approximately 9 seconds, supports multi-entity structures and multi-currency handling, and includes configurable parameters for country-specific retirement ages, benefits structures, and social security regulations. Data residency requirements are addressed through local cloud deployment options.
Market Impact of KayanHR and IAS 19 System Integration
The partnership launches during peak valuation season, when organizations perform annual benefit assessments.
Both companies will run pilot programs with selected customers to refine workflows before broader market rollout, ensuring the integration meets regulatory requirements while maintaining operational efficiency.
Organizations across the region now have access to world-class IAS 19 valuation capabilities seamlessly integrated into their daily HR operations, transforming a historically complex and time-consuming process into a streamlined business function.
About KayanHR
KayanHR is a cloud-based HRM solution that enables organizations of all sizes to manage, control, and grow their human resources more effectively.
The platform facilitates HR's digital transformation with modules including People Management, Payroll, Time Attendance, Timesheets, Talent Development, Talent Acquisition, Performance Appraisal, Career Path, Succession Planning, Business Trips, and Air Ticketing.
The company name derives from the Arabic word "being," reflecting the foundational role people play in business success. KayanHR offers advanced employee self-service capabilities that encourage employee engagement and foster a social culture within organizations.
Contact: https://kayanhr.com/contact-us-anytime-schedule-a-free-appointment-with-our-team-kayanhr
Website: https://kayanhr.com/
About Prima Consulting
Prima Consulting provides financial and risk management consulting across Saudi Arabia, the UAE, Pakistan, Germany, and the rest of the European region, with expertise in IAS 19 Valuations for Employee Benefits Accounting and Pension Valuation.
The firm's cloud-based IAS 19 Actuarial Valuation Tool serves organizations throughout the Middle East, including companies with complex multi-entity structures and tens of thousands of employees.
Prima's solution supports both funded and unfunded schemes, provides comprehensive archiving for historical valuations, and offers privacy-compliant reporting that doesn't require personal employee identifiers.
The system's configurable architecture adapts to regional regulatory requirements across different markets.
IFRS Tech is Prima Consulting’s technology division, responsible for developing and operating its cloud-based actuarial and financial reporting systems, including the IAS 19 valuation platform used in this integration.
Contact: https://primaconsulting.org/contact/
Website: https://primaconsulting.org/
Website: https://ifrstech.com