DANBURY, Conn., Feb. 15, 2018 /PRNewswire/ -- Cartus Corporation, a leading provider of global relocation services, has announced a major innovation in relocation management with the introduction of predictive analytics into the solutions it offers its clients. Currently in pilot with clients, predictive analytics will be rolled out to the company's global client base throughout 2018 as the first of many technological innovations under the company's Leading Edge Analytics Practice (LEAP). The launch of the predictive analytics solution will mark a new frontier for relocation management, giving Cartus clients the ability to better predict outcomes of budget and policy design, resulting in more cost-effective relocation assignments coupled with higher employee satisfaction.
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"Cartus has an unmatched historical database - over two million moves, 80 million financial transactions, and 7,700 unique country combinations. With that depth and scope of data, we are singularly positioned to provide the insights and information that clients need to forward-manage their relocation programs and spending," said David Pascoe, Senior Vice President at Cartus.
Mark Sonders, Senior Vice President of Global Sales and Marketing, added, "Our tech-forward focus at Cartus is clearly reflected in the launch of LEAP and in our new mantra – Technology that moves you.SM We are committed to innovative technology that will not only enhance the entire relocation experience for our clients and their employees, but also bring value to them that's simply never been offered anywhere before."
"Cartus' ability to tap into a vast repository of domestic and international relocation scenarios creates an unparalleled opportunity for its clients to collectively improve their mobility outcomes," said Greg Bonnette, Vice President of Strategy and Innovation at Ironside, a leader in the field of enterprise data and analytics, and Cartus partner in the development of LEAP.
"Predictive analytics is light years beyond the traditional historical reporting approach used in the relocation industry," said Sonders. "Predictive analytics uses existing data to predict what is likely to happen, versus simply what has happened in the past, reinforcing Cartus' ability to develop significant innovations for the benefit of our clients. "
Historical experience points to a number of key issues facing companies and employees during a relocation: employee frustration, assignment success and employee retention, and cost and exception control.
"Most businesses today struggle with these questions," said Pascoe. "Using predictive analytics models, we can identify, early on, the necessary support, budget, and other items needed to ensure successful outcomes. "
Ultimately, Pascoe says, understanding the likelihood of potential outcomes will enable client companies to consistently predict and manage their return on investment for employee relocations anywhere in the world. Moreover, by anonymizing the data, LEAP ensures full client and employee confidentiality at all times.
Cartus' new interactive customer timeline is a key example of predictive analytics at work. The interactive timeline employs advanced analytics to give relocating employees an overview of the specifics of their move, dynamically updating and reforecasting each milestone as the move progresses.
"For example," Pascoe pointed out, "our vast database allows us to predict the timeframes involved in various aspects of a global move for any permutation of family size, departure and destination, and logistical support, including potential issues of compliance and special needs. The essential component is the millions of times we have done this for clients; only with that level of data can you have truly reliable predictions."
Cartus is currently working with clients on a number of additional statistical models for release during 2018 that will predict outcomes across the fundamental pillars of relocation - cost, program, and talent management. Sonders says this is just the first of many new technological advancements in store in the coming year.
"Our clients are already seeing new applications for this knowledge," he said. "We're tremendously excited to work with them on these groundbreaking approaches that will truly power a new kind of thinking and relocation experience."
For more than 60 years, Cartus has provided trusted guidance to organizations of all types and sizes that require global relocation solutions. Providing the full spectrum of relocation services, including language and intercultural training, Cartus serves more than half of the Fortune 50 and has moved employees into and out of 185 countries. Cartus is part of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. To find out how our greater experience, reach, and hands-on guidance can help your company, visit www.cartus.com; read our blog; or click www.realogy.com for more information.
SOURCE Cartus Corporation