In the Spotlight: MoveXpert – A Lump Sum & Self-Service Tool
BGRS develops its technology tools designed specifically to support our diverse client portfolio and their relocating employees. With over 16 years’ experience, John Gennaro, Vice President, Global Operational Support shares his insight about the growing self-service technology trend, BGRS’s moveXpert™ tool and what’s next for the lump sum tool.
During your tenure in the industry, what has been a significant change you have witnessed in the last 10 years?
John Gennaro: When I first started in the industry, a consultant was the single source for guiding a customer through a move. Now, information is at your fingertips, faster and easier to find. So not surprisingly, along with cost efficiency, ease of administration is a top priority for clients. In addition, millennials continue to saturate the work place, and are quickly becoming the predominant customer of relocation and their preference is self-service. As a result, it probably isn’t surprising we are seeing an uptick in the provision of lump sum programs for relocations; they are easier to administer for the client, and provide the flexibility relocating employee desires.
What sparked moveXpert’s development?
John: Concurrent with increased lump sum programs, many of our largest clients started to look for enhanced technology solutions to facilitate these moves. It was clear we had an opportunity to help clients provide an extension of our services in a more self-service fashion. Clients saw lump sum as any easy and cost effective solution to move their employees. BGRS also saw an opportunity to offer the relocating employees had a centralized place to go when planning their relocation and dealing with all the pieces of moving, like housing (buying, selling, renting), household goods shipments, destination information, etc. We developed MoveXpert in response.
MoveXpert was quite an organic product. Our client base had been evolving more and more over the last five years – with an on-going trend and business imperative to lower costs across the board. Our clients started looking for simpler options to offer their relocating employees. So, BGRS started to collaborate and innovate to create a solution.
Within three months we went live with moveXpert. Over just first several months we had dozens of clients using the tool with more queued up for informational meetings; and the reception was resoundingly positive. This was what the clients were asking for and our team brought it to life.
What are the benefits of the moveXpert tool to the client and their employees?
John: The lump sum program, while growing and more popular in recent years is still considered U.S. centric. Usually, this group is moving within the United States and includes new hires, recent grad hires, and millennials. Generally speaking, lump sum was a cost-effective way to move a person for a job, and that was its appeal.
Before this tool, the client would provide their employees a lump sum of money and the employees would be left to their own devices to scour the internet and find reputable suppliers, homes, etc. With moveXpert, the relocating employee gains access to our network of vetted suppliers, and they can take advantage of rebates and discounts because of our existing volumes. Additionally, relocating employees gain access to destination location information, such as information about schools quality of life, etc. They also gain access to a budget tool, assisting with tracking their lump sum against their actual relocation expenses. The client, in turn, benefits from a greater success rate for their employees’ transition to a new location. They have peace of mind knowing that their people are getting great service at a great price using a self-service online tool.
What has BGRS discovered by working with clients using moveXpert?
John: The client reception has been great, providing positive feedback and inspiration for the future. Now, we are seeing our clients are really interested in the self-service aspect of the tool. The use of lump sum programs is shifting, and growing, as I mentioned. It’s not only new hires and grads; we are seeing more VIPs and executives receiving a portion of their policy as a lump sum. So they are looking for tools that consolidate all the relocation components (self-serve and full-serve) in one place.
Where do you think is the greatest opportunity for BGRS to innovate and offer more to our clients and customers?
John: MoveXpert was clearly just the beginning. We’re seeing a steady uptick in requests for more self-service tools. We envision it being a tool not only for those that have a lump sum. BGRS continues to develop new avenues for collaboration between functions and our supplier partners. We’re even talking about unique solutions working with our suppliers to develop added functionality within the technology. BGRS already has the tools and expertise to facilitate, guide, and assist with successful moves; and we are developing a complete portal for our clients and customers. BGRS will then have the ability to do both full service and self-service, developing solutions that will cater to exactly what our clients want and need.
To more about BGRS client technology, click here.