Rocket Software, in conjunction with the housing consultancy PHHS, has just released new software specifically designed to help housing providers test, measure, manage and deliver on-going improvements in value for money (VfM) on their own terms. Rocket’s new V3a software is a scorecard and analytical tool based its CorVu system and lets organisations define and measure VfM using their own objectives, measures and targets instead of using a set of pre-defined, sector-wide data.
V3a delivers ‘in the round’ analysis of the extent to which services and assets are delivering VfM and shows where costs can be cut, service standards changed or performance improved to free up financial resources in line with the Value for Money regulatory standard. Developed in partnership with PHHS and a number of housing providers over the past few years, V3a automates controls and simplifies VfM planning and monitoring, identifies the optimum balance of economy, efficiency and effectiveness, and puts VfM at the heart of a housing provider’s business intelligence activities.
The software includes standard templates and measures for service areas and assets that have been developed in partnership with housing organisations, but each organisation can decide how they want it configured by choosing their own measures, the detailed level to drill down to, and the relative weightings assigned to cost, performance, quality or social return on investment.
V3a costs around £5,000 including all set up and configuration, plus an annual subscription of £1,000.