Charity Starts at Home – Accounts Payable Cash Recovery
Karbon Homes is the new name for the combined organisation of Isos Housing, Cestria Community Housing and Derwentside Homes after the Homes and Communities Agency, approved plans to amalgamate all three landlords to become one. It means the organisation is one of the largest housing associations in the North East owning and managing almost 30,000 properties across the North East of England and Yorkshire and developing more homes every year. It delivers social rented, affordable, specialised, shared ownership and market rented homes.
Karbon Homes is a charitable registered society under the Co-operative and Community Benefit Societies Act 2014 and is regulated by the Regulator of Social Housing. As a profit-for-a-purpose business, it invests any surplus it generates into improving its properties and communities, building new homes and delivering services which provide sustainable outcomes for our customers and communities. It is an open and transparent organisation fully committed to Value for Money (VfM) initiatives to benefit all stakeholders.
Karbon commissioned an Accounts Payable Recovery review as a risk-free mechanism to recover any unforeseen overpayments that may have escaped its own robust internal systems and processes. It undertakes regular reviews and promotes good governance with internal checks and balances however welcomed an Independent review from a specialist Accounts Payable Recovery Provider to validate internal systems and processes were still working effectively.
Rockford Associates Limited extracted 6 years of Open Accounts transaction data in addition to legacy transaction data post amalgamation. The process was easy and straight forward as no scripting or software development is required. The data was speedily uploaded to Rockford’s secure share file site (Rockford is Cyber Essentials Certified) and Rockford produced AP Analytics reports by running the data through its bespoke data mining software “Pathfinder”. A senior Recovery Auditor was sent to site to deliver a full end to end review. With access to mail, systems and scanning in place the Auditor identified, verified and recovered a number of overpayments by conducting a seamless statement review whilst concurrently analysing Rockford AP Analytic reports. Service was delivered on site and remotely with minimum disruption to the Trust AP and Finance Teams.
Rockford Associates analysed over 273,000 past transactions from Karbon Homes Open Accounts Finance System. The review identified, verified and recovered 27 exceptions. This provided Karbon Homes with a positive reassurance that 99.33% of transactions were processed correctly by invoice value and 99.01% by invoice volume.
“I’d like to pass on my thanks to you and Ray also, you did a great job and the service we were promised that you’d come in with minimal disruption and just get on trying to recover some monies was proven to be the case. You were a credit to your company and it was a pleasure working with you also. You have managed to recover in excess of five figure sum for Karbon Homes which is excellent so many thanks and much appreciated”
John Gough – Senior Business Partner (Resources)
“It was a pleasure to work with Karbon Homes (post amalgamation) and generate cash recoveries whilst independently validating systems and processes are working well. The works were implemented in a timely manner and speedily transacted through the Procurement Compliant CCS Spend Analysis and Recovery Services (SARS 2) Framework Agreement RM3820. Karbon joins a number of select Housing Groups and Charitable organisations who process a large volume of supplier invoices and have benefited from Rockford Associates Limited Independent Accounts Payable Recovery Services”
Ray Dorney – Director, Rockford Associates Limited
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