Expanding Business Operations in Egypt

CEO & Co-Founder

@

Spare

" Not having to fly over to set up our business operations in another country, growing our team across the borders from the comfort of my own office is next Level. I'd absolutely recommend Ovarc's services "

— Dalal Alrayes

Expanding Business Operations in Egypt

The Results

Dalal had been searching for competent product managers and Full-stack developers in the Middle East region before Ovarc came into the picture. She was specifically looking for candidates who would have a good understanding of the local market and also possess strong technical skills to manage an API-based product. Although her company had a presence in various locations across the region, Dalal wanted to hire and manage a new team in Egypt. Ovarc’s sister company took care of the recruitment process, while Ovarc facilitated and streamlined the hiring process and simplified people management operations for the new team in Egypt. This helped the founders of Spare to focus on productivity rather than worrying about incorporation paperwork and payroll processing.

The Challenge

Geography can be a challenge for many businesses. For Dalal Alrayes, the Founder & CEO of Spare, hiring employees in new locations such as Egypt involved complex processes in an unfamiliar market.

To achieve their goal of scaling their product, they needed to hire & manage product managers and full-stack developers with a good understanding of the local market, as well as strong technical skills in managing an API-based product while keeping costs in check. As a result, they decided to hire in Egypt.

Hiring new employees in a new country meant complying with the labor laws that they were unfamiliar with, setting up a new benefits program, and finding a suitable office space to provide a conducive environment for their employees and daily operations.

Providing EoR services, maintaining office logistics, pay records, and providing payroll for employees getting paid in a different currency meant consistent conversions and follow-ups.

“The smallest task on the list of expanding into a new country is too time-consuming for me and my team. It’s not our area of expertise, and we cannot afford to spare the time or effort. We preferred to hand this over to a partner we trust; what could have taken us months to achieve, Ovarc managed entirely from start to finish with compliance and ease in around a month time. It’s not our first time working with Ovarc, so it was a no-brainer for us,” says Dalal.

The Solution

Dalal realized the need for a comprehensive HR partner who could manage all HR-related matters and help expand her business. To save herself and her team time and effort and enable them to focus on their business, she connected with Ovarc. Ovarc provided recruitment, hiring, payroll management, logistics, and benefits services in an incredible time span.

Recruitment: Although Ovarc does not offer recruitment services, Ovarc’s sister company Profilio does, whose recruitment team swiftly provided several great candidates for her to choose from – the entire cycle took less than a month to recruit, hire, and onboard.

Hiring & Onboarding: Ovarc managed all aspects of the hiring cycle, from contacting candidates to sending offer letters and handling the contracting process from A to Z. All onboarding was completed in one single day.

Payroll Management: Ovarc managed payroll in a monitored and automated manner for Spare’s employees. This included managing currency conversions, processing payments, and providing a self-service portal for employers and employees to view their payment dashboard and payslips.

Logistics and Benefits: For Spare’s offshoring team in Egypt, Ovarc managed the entire cycle of finding the best working space and all logistics/assets management necessary to sustain and maintain the working space. Additionally, they developed a suitable benefits program for the Egyptian employees.

About Spare
As a regulated open banking provider in the Middle East, Spare is the compass guiding you to unparalleled financial connectivity. Our versatile platform offers a comprehensive suite of services, including real-time account information and seamless payment initiation.
Industry
Financial Services
Location
Kuwait City, Kuwait – Riyadh, Saudi Arabia
Number of Employees
11-50

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