According to a recent survey there are currently 1700 housing associations in the UK today. The report (http://goo.gl/4iWVmE ) also outlined new opportunities facing housing associations to both boost the growth of the social enterprise sector, while at the same time supporting their tenants and communities in new ways. These include:
- Providing ancillary services such as training, financial literacy or care services.
- Acting with other associations to procure services. (Collectively, housing associations spend £13bn annually on services ranging from landscaping to IT support.)
- Investing surpluses - in 2011/12 social housing landlords in the UK generated their largest surplus yet of £1.4bn.
Financial Driver – helping you to make the best use of scarce resources
What ever stage your Housing Association is at, you will need to track where income is generated and how it is being applied. This will require tracking monies by development and in the services being offered to tenants. Using a spreadsheet for this purpose can be a nightmare as each development will need their own sheet, and whose content / format could be different. The layout will also change depending on whether you’re setting a budget (e.g. entering targets for the next 12 months), collecting a forecast (e.g. just the next 3 months and an annual forecast for the year), or reporting results (e.g. list those services across all developments that are above budget for the year). But with Financial Driver, setting budgets by development or service is easy. To begin with you define what developments exist, the type of service being delivered and the person responsible. You then tell Financial Driver whether you want to collect a budget or forecast, stating the periods required, and let the system take care of everything else. Financial Driver will automatically create and distribute links to everyone involved, that will present personalised data capture screens and an approval process through which data is submitted. You’ll be kept informed as to the status and the system will chase up users who are late in responding. Once the data is in, Financial Driver will consolidate submissions and allow you to report in multiple ways, simply and easily. You can even use your spreadsheet to add formatting and comments, but where the data is being supplied directly from Financial Driver’s secure database.
Financial Driver – the low-cost, simple solution
And what’s more, you don’t need to load or maintain software at any point – Financial Driver is set up and accessed through any Internet enabled device. There is no upfront fee or lengthy and costly implementation times. Just a simple, low cost rental that you can turn off at any time. If you would like to know how Financial Driver could help your Housing Association, then: