Financial Management
Controlling Budgets, Payments and Charging
Following Personalisation the world of adult services finance is in transition. Local authorities has historically managed and controlled the costs of service provision. This has changed to local authorities providing a personal individual budget for each service user to spend on their own services. With this change comes the need for greater value for money in service provision.
Financial control is moving from managing volume contracts to local authorities tracking the usage of service users’ personal budgets and ensuring they are being spent appropriately.
In order to pay for services local authorities need to be able to collect contributions from some service users. Once collected, this money is used alongside their own budgets to make payments to service providers. These collections and payments all need processing, tracking and reporting on.
We have significant experience in helping local authorities with their financial management processing £2bn of transactions each year through CareFirst’s financial engine
We are responding to the Personalisation agenda with the introduction of Personal Budgets functionality and associated services.