Mobysoft’s RentSense, on average, delivers a return on investment within 4 months and 3 weeks, the company’s research finds.
With many social landlords facing a tougher future because of on-going welfare reform, which is leaving many tenants with less money, and government policy which is reducing subsidies impacting margins and rent revenues. As a result of these and other pressures, landlords are looking to create and embed lasting efficiencies whilst maintain service levels to their customers. For many technology is a key component in delivering these efficiencies, as social landlords look to tech companies to quantify and qualify what their initial investment will deliver.
“It is more important than ever for social landlords that business cases that advocate investing in technology clearly articulate the expected return in pounds and pence, but also demonstrate how it is measured and when it will be delivered,” commented Paul Evans, Commercial Director at Mobysoft.
“Social landlords need to be challenging technology companies on their assumptions and business cases, in terms of how return on investment is measured and how it will be validated by both the supplier and customer.”
With around 100 social landlords using RentSense, Mobysoft has audited usage and average returns across the customer base to identify that on average social landlords of all sizes deliver an ROI in 4 months and 3 weeks.
Recent examples of organisations being able to measure and validate how RentSense has helped them include the following examples.
“Nine months after implementation we had exceeded our initial target (of reducing arrears by £600,000) and at the moment, about ten months post RentSense, arrears have fallen by almost £800,000,” explains Kristian Melgaard, Director of Customer Contact at Moat.
“Within one month not only had our officers’ caseload been cut dramatically, but this enabled the team to lower arrears by £65,000. We were expecting to see the workload reduce, but not necessarily the arrears so quickly,” comments Liz Prankard, Income Manager at Vale of Aylesbury Housing Trust.
“I need to free up an additional seven people, before using RentSense if I had asked the team leaders in each office they would have said ‘it is not possible’, now those same heads of service are saying that they can release staff because of RentSense. So, it has helped free up those seven full-time equivalents (FTE), who will be seconded to the Money Matters team prior to full-service.” comments Susie Thompson, Deputy Director of Operations at Gentoo.