Verisure expands into Argentina
Verisure, Europe’s leading provider of monitored security solutions, was rapidly growing. Based in Switzerland, the company’s continued expansion lead them to Argentina.
Verisure needed to quickly relocate 32 employees, and their families, overseas to a new county within three months. The process posed many unique challenges, as Argentina differs from Switzerland significantly in language, currency and culture.
As Verisure’s relocation partner, Sterling Lexicon assisted them in overcoming the following challenges commonly associated with a global relocation:
All local currency transactions were managed and tracked. To avoid additional issues with the intermediary bank, Sterling Lexicon requested different financial tracking documents. Sterling Lexicon began by compiling housing preferences and searching for temporary accommodations until long-term solutions were found.
Sterling Lexicon also took care of critical details such as shipping the employees’ personal belongs to their new homes and finding new schools for the employees’ children. Since some of the new employees were non-Spanish speakers, Sterling Lexicon assisted in finding them Spanish language lessons.
Both the relocated employees and their families were provided with support through the entire transition process.
“Speed and efficiency are two of the adjectives we look
for in our suppliers. With Sterling Lexicon, we can see
how the Argentina project was a success. Our business
relationship is based on continuous communication
and proactivity against possible problems. It is difficult
to pull off a project of this magnitude unless there is
trust between the two companies.”
— Ileana Morales, Head of Global Mobility, Verisure
Proactively addressing the economic challenges Verisure would face when relocating employees into a new country
Sterling Lexicon assisted in the process from start to finish, helping Verisure overcome a number of complications in the relocation process.
By renegotiate all leasing agreements and setting up a static fixed percentage that would be revised semi-annually, Sterling Lexicon reduced the impact of high inflation in Argentina.
Sterling Lexicon handled the double economy obstacle by making deposit transfers in U.S. dollars and requiring invoices in all operations, from real estate agent commissions to landlord payments.Download the success story