Advantages of an Expedited Bidding Process
More companies are using an expedited bidding process when it comes to outsourcing their relocation program to a Relocation Management Company (RMC). This fundamental shift in a company’s approach to outsourcing relocation has many benefits, including significant cost and time savings. As the pace of business continues to increase, expedited bidding has proven to be a boon for companies that are looking to enhance the management of their relocation program.
Global Mobility Solutions’ team of global relocation experts benchmarked 48 companies that have utilized an expedited bidding process to determine the reasons why this approach has risen in prominence in today’s relocation market. Our team has identified five distinct reasons for the increased utilization of expedited bidding.
Five Reasons Why Companies Prefer an Expedited Bidding Process:
1. Companies Buy Solutions, Not Parts
Purchasing relocation management is a much different process than sourcing parts or equipment. Companies understand that ensuring the right fit for the right reasons is the most important factor when sourcing employee-facing services.
2. Complimentary Mobility Consulting
Policy reviews, program design and recommendations, and policy development and revisions can easily be part of the expedited bidding process. This also allows companies to evaluate an RMC’s experience, knowledge of the relocation process, and the quality of their consulting work.
3. Faster Relocation Program Implementation
Over 90% of companies that utilize an expedited bidding process are able to complete their implementation within 22 days. The speed of this approach allows companies to achieve immediate efficiencies in their programs.
4. Avoiding Formal Requests
Utilizing an expedited bidding process helps companies avoid the administrative burdens and resource-intensive approach typical of the more formal Requests for Information and Requests for Proposals.
5. Immediate Cost Savings
Competition inherent in an expedited bidding process often results in cost savings. Improved fee structures and reduced direct costs result in up-front savings for the client. Savings allow clients to increase their focus on strategic business initiatives while the RMC manages their relocation program.
What should employers do?
Employers should utilize an expedited bidding process as they consider outsourcing their relocation management. A Relocation Management Company with extensive knowledge of the global relocation market and the experience of moving hundreds of thousands of employees will provide the best resources for expedited bidding processes. An experienced RMC can also easily guide companies through the process and achieve highly successful results.
Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients with their relocation programs. We can help your company understand how to gain the most benefits from utilizing an expedited bidding process. Learn how to choose the best Relocation Management Company from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.