LONDON--(BUSINESS WIRE)--According to the latest procurement intelligence report from Technavio, the global employee relocation services market is expected to grow at a CAGR of 3.71% over the next five years due to the increase in international assignments.
The research report titled ‘Global Employee Relocation Services Market: Procurement Market Intelligence Report 2017-2021’ provides an in-depth analysis of category spend, best procurement practices and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning, and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence.
“The global employee relocation services market is predicted to grow due to the expansion of businesses in emerging markets, increasing international assignments, the rise in M&A activities, and lack of locally available talent,” says lead Technavio procurement specialist Angad Singh for category spend intelligence. “From a supply perspective, service providers are collaborating with regional suppliers to enhance service portfolios such as consulting services, assignment management, spousal employment, and language training in specific regions,” adds Angad.
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Cost saving opportunities in the global employee relocation services market
The adoption of various cost-optimization levers helps buyers of employee relocation services realize direct cost savings and enhance category management and value benefits (including reduced procurement complexities).
Technavio procurement experts have segmented the cost saving opportunities in the global employee relocation services market into the following value-enhancement opportunities:
- Adoption of technology
- Supplier Competition
- Adoption of negotiation strategies
- Optimization of procurement practices
- Bundling of services
Adoption of technology saving aspects
Service providers are using cloud computing software such as ASP and SaaS, which enables relocating employees or corporates to store, process, and manage data in remote servers hosted on the net, which can be accessed anytime.
Service providers are also implementing mobile-based applications to track expenses and enable decision making.
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Optimization of procurement practices saving aspects
Buyers prefer service providers that leverage on contemporary technology such as RMS and EDI, which helps to reduce complexities in terms of real-time tracking of shipment and provides an effective communication mechanism between service providers and buyers to streamline the relocation process.
Bundling of services saving aspects
Buyers can partner with service providers that provide bundling of employee relocation services with other services such as consulting service, assignment management, repatriation service, and household goods packing and loading. Such bundled offerings save up to 15% of the bundled spend area to the buyers.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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