Value for Money: Reviewing our contracts to save money
Value for Money (VFM) is at the heart of the services we deliver. We want to make sure we are offering the best possible services we can in the most efficient and effective way.
You can view our annual VFM self-assessment document on our website: www.progressgroup.org.uk/VFM
The savings and efficiencies we make through VFM activity can be used to:
- Provide more new homes for people who need them
- Invest in local communities so they offer a safe and healthy place to live
- Support people to achieve more opportunities and independence.
We would like to share some examples of our VFM activity. For 2022/23 we reviewed and re-procured more than 43 contracts, totalling £11.5m, and have either maintained the existing cost or contained to a low-cost increase, resulting in £0.5m savings.
Some of the contracts we reviewed included:
- Re-procuring our roofing contract for the next three years with a saving of £130k.
- Re-procuring our grounds maintenance contracts for the next three to five years with an inflationary saving of £74k. This saving has reduced the increase to our tenants for their ground maintenance service.
- Replacing the lifts in two of our independent living schemes creating a saving of £66k.
- Re-procuring our van fleet for the next three years with a saving of £65k
- Re-procuring our fire and CCTV contract for the next three years with a saving of £25k.
A number of social value initiatives have also been carried out throughout the year, with our suppliers helping to create additional parking spaces at our Lower Lane community centre, and a garden renovation in Exeter.
Our suppliers took part in fundraising activities such as the Big Sleep Out for Key Unlocking Futures, which provides support to young people. They have also donated to our Wish Tree Appeal and community centre projects.
For 2023/24 we are planning to:
- Review various contracts including building materials stores, utilities, cleaning and another workspace project with a total value of £19m.
- We will seek to achieve savings or avoid or minimise cost increases and also improve services to customers.
- We aim to continually assess opportunities to enhance our services to customers and actively involve our employees and customers to achieve value for money.
Find out more
If you can think of any ways we can improve our services without increasing our costs and could save money, please get in touch by emailing email@example.com, web chat at www.progressgroup.org.uk, via Facebook/ProgressStreetTalk or telephone us on 0333 320 4555.
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