Member Article

Technology delivering Public Sector Savings wins Queen’s Award for Innovation

Mobysoft, a specialist social housing technology firm, has won a Queen’s Award for Innovation for its cloud based solution RentSense.

Manchester based Mobysoft has been recognised for its software application that combines a series of complex algorithms and predictive analytical tool that is helping social landlords (such as Housing Associations and Councils) create much needed efficiencies and protect their revenues following a 1% rent cut imposed by the Government. In 2015 Mobysoft helped its 60 clients reduce their arrears by c£29m, as well helping create efficiencies to help landlords mitigate the risk of Universal Credit and welfare reform.

Many landlords use ERP IT systems to manage rent payments and arrears. These typically wait for tenants to miss a payment before ‘flagging’ them for contact. RentSense uses innovative algorithms to analyse tenants’ payment histories and then predicts which tenants will pay on time and which won’t, so the income teams are proactive and able to help support tenants more effectively whilst driving down arrears.

Due to the effectiveness of RentSense in helping to reduce arrears, create savings and efficiencies more and more social landlords are deploying RentSense, this includes HA’s, Councils and ALMOs as well as over half of the g15. The g15 represents London’s 15 largest housing associations, providing homes for one in ten Londoners.

South Staffordshire Housing Association has also benefitted from using as RentSense as Jan Goode, Director of Customer Services explains.

“As an organisation we have chosen to work with Mobysoft because we recognise that Rentsense is exactly the kind of innovative technology we were looking for. With economic challenges faced by the housing sector we needed to drive efficiency and ensure we were able to predict customer payment risk and behaviours and thereby target our resources effectively and sustain our top quartile performance.”

Founder and CEO of Mobysoft Derek Steele commented:

“We are thrilled to win this Innovation award. I believe it helps reflect the innovation of RentSense as there is no other solution that uses predictive analytics and algorithms in the sector and in such a way that is helping many mitigate on-going welfare reform and the 1% rent cut.”

This was posted in Bdaily's Members' News section by Adrian Mills .