Social Housing organisations and local authorities need to demonstrate the effectiveness of their Value for Money strategies, as well as how their assessment methodologies take into account Social Value or Social Return on Investment (SROI).

SROI is a framework for measuring the wider social value of procurement decisions, seeking to reduce inequality and environmental impact. It aims to improve wellbeing by incorporating social, environmental and economic costs and benefits into decision making.

EPI will be speaking at a Conference on Value for Money and Social Value alongside Chris White, Conservative M.P. for Warwick & Leamington, and promoter of the Public Services (Social Value) Bill, and Mick Warner, Assistant Director, Assurance & Financial Analysis at the TSA. The Conference is taking place in Birmingham on 9 February 2012 and will tackle the requirements of the new regulations being introduced in April 2012, as well as issues arising from the Localism Act and Social Value Bill.

EPI will also be delivering a hands-on workshop at the conference explaining how to apply the core principles of Lean Thinking. For more details see Assessing Social Impact and Value for Money Conference.

Pressure is building on Registered Providers to achieve and demonstrate VFM. Slashing costs will impact services, which is why we have always championed a more holistic approach which starts with cost visibility.

‘Inside Housing’ reports that the social housing regulator is monitoring a subsidiary of one of England’s largest housing associations after a major overspend on repairs and maintenance.

But why wasn’t an overspend of around £8million identified earlier?

A common problem many organisations face is not knowing exactly what they spend. Once visible, costs can be challenged. But, first of all, you need to generate a complete understanding of your spend and a prioritised Cost Reduction Plan.

EPI empowers clients with innovative web-based spend analysis tools and techniques. Registered Provider clients gain a complete view of spend to rapidly identify opportunities for value improvement as part of a structured VFM plan.

Read the full article on the Inside Housing website.