Customer Annual Review 2017 Customer Annual Review - Page 19

The value we When it comes to money, we all want to know that we’ve got the best possible deals available. This is true for how we manage our fi nances too because every penny we save goes towards giving you the kind of homes and services you tell us you want. By watching the pennies, through procurement we’ve saved almost £550,000 over the last year. The majority of this has been saved by avoiding costs and being savvier in the way we do business. For example, we negoti ated savings of nearly £40,000 for our major plumbing and heati ng materials. But this wasn’t just about the money – we’ve now got a bett er deal in place with our suppliers which has seen a reducti on in cancelled jobs, leading to an improved service for you. Other savings have been made by streamlining how many suppliers we work with, making the best use of our buildings and colleagues and re-negoti ati ng the cost of things like our ‘out of hours’ call handling service. These kinds of savings help us to invest in your homes and the services that matt er to you – but the value doesn’t end there. We also have to make sure we’re getti ng the maximum value from the services we provide. You rate us 4.3 out of 5 (up from 3.7 last year) Value in this sense, could be helping you into work or educati on, out of debt or simply making your homes more aff ordable to live in. This is called social value, you can fi nd out more about this here. By working more effi ciently, this year has also seen approval for an additi onal £16m to be invested in improvements that deliver the greatest social value. And, keeping in line with our drive to bring more services in-house, it was agreed all work would be carried out by Bromford colleagues – helping to save another £4.5m over the life of the programme. All money that will be re-invested into your homes and neighbourhoods. These improvements include new heati ng systems, improved insulati on and replacement windows and doors – you can read more about this on page 8. Carrying out aids and adaptati ons that have allowed more of you to stay in your current home is a good example of where we have reinvested some of the money saved to create social value. By doing this work we have created a potenti al social value amount of £6.4m - that’s £4.04 for every £1 we invested. To read more about our approach to achieving value for money, and what we’re planning for the year ahead, take a look at our Value for Money report. Did you know? Bromford is a not-for- profi t organisation which means that every pound saved is re-invested in your homes and communities. ? CUSTOMER ANNUAL REVIEW 2017 19