--- title: "Core Financial Services" ocid: "ocds-h6vhtk-0567be" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-0567be" markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-0567be.md" json_url: "https://d3tenders.com/contract/ocds-h6vhtk-0567be.json" source: "Find A Tender Service" current_stage: "Planning" buyer: "LONDON BOROUGH OF HOUNSLOW" published: "2025-07-29" --- # Core Financial Services Buyer: LONDON BOROUGH OF HOUNSLOW Current stage: Planning OCID: ocds-h6vhtk-0567be [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-0567be) [Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-0567be.json) ## Summary The London Borough of Hounslow is initiating a procurement process for "Core Financial Services" within the general public services sector. This procurement is at the planning stage, with preliminary market engagement scheduled through online interviews in August and September 2025. The intended services include accounts payable, rent accounting, and housing rent collection. Key objectives include cost reduction, enhanced automation, and improved service delivery. The contract, valued at £12,618,000 GBP, will commence on 1st October 2027 and conclude on 30th September 2032, providing services in the UKI75 region of the United Kingdom. This tender offers significant opportunities for businesses specialising in financial services, automation, and systems integration to expand their market presence. Firms with expertise in offering efficient accounts payable solutions, managing housing rent collections, or providing tailored financial services to local authorities would be well-positioned to compete. Additionally, businesses adept at digital transformation and offering automated solutions to enhance accuracy in financial transactions could leverage this procurement to secure a long-term partnership with the London Borough of Hounslow. ## Notice LBH is seeking to commission: Accounts Payable (also provided to LBH trading company) Rent accounting Housing Rent Collection (optional) Vision: Our vision for the Accounts Payable: Our vision is to provide an efficient and transparent Accounts Payable service that ensures timely and accurate payments to vendors, suppliers, and service providers. The service should enable service users to self-serve and for automation to be in place where possible. We are committed to transforming payment processes, minimising errors, and ensuring the responsible management of public funds. Processes should be constantly reviewed and continuously subject to improvement. Our vision for Rent Accounting: To maintain clear, up-to-date records for each tenant, providing transparent statements, and ensuring that updates and changes are processed in a timely and accurate manner. To ensure that the service and its processes work effectively and in a joined-up way with the Housing Income service, as well as there being a clear understanding of the roles and responsibilities of the service. Housing Rent Collection: To provide an efficient, accessible, and customer-focused rent collection service that ensures timely and accurate receipt of payments. The service will focus on the maximisation of rent collection. As well as, promptly providing support to tenants enabling them to maintain their rent payments and manage other financial commitments. The service will work closely with tenancy management, benefits and homelessness functions to provide effective, holistic support for tenants, to help sustain tenancies, ensure they get what they are entitled to and to fulfil the Local Authorities responsibilities as a landlord. Current performance Accounts Payable: 96.4% of valid Invoices paid in 30 days of the due date 57,969 Accounts Payable transactions were processed in 2024/25 In 2024/25 58,000 transactions were processed through ContrOCC 138 CIS deductions in 2024/252 In 2024/25, 1,815 new creditor set up and 867 amendments and 67 closures were received by the current supplier Rent Accounting: During 2024/25 rent accounts have taken an average of less than a day to set up There are 13,933 properties with rent accounts 1,423 new rent accounts were set up in 2024/25 Housing Rent Collection: The KPI target for HRA income collection is 100% and 90% for TA income collection In 2024/25 the HRA income collection rate has been consistently over 97.65% each month. Throughout the majority of the year the collection rate has been over 98%, apart from January and February 2025 where the collection rate was 97.66% and 97.65% respectively In 2024/25 the TA income collection rate has been above 92%, exceeding the target, and between May 2024 and July 2024 collection rates exceeded 100% In March 2025 6,293 HRA households were in arrears, out of approximately 13,000 In March 2025 395 TA households were in arrears, out of approximately 550 The total value of rent arrears, across HRA households and TA, is PS9m Approximately 10% of housing rent collection is via direct debit Current contract cost Annual core contract cost Accounts Payable: PS563k Rent Accounting: PS240k Housing Rent Collection: PS1.3m Objectives Lower contract cost by min 10% Automation of all reconciliation processes to reduce manual admin Automated confirmation of payee/supplier to check for a match before a payment is made to reduce the possibility of the wrong supplier being paid Automation of VAT and CIS deduction calculations to reduce possibility for mistakes and inaccuracies Increased automation of rent accounting Introduce paperless DD for tenants Reduce rent arrears ### Planning Information The Council intends to hold a series of online interviews with interested providers during August/September 2025. It should be noted that this engagement is not a formal tendering process. The information we gain through our market engagement will help to inform our commissioning intentions and refine our specification for this service. ## Key Details | Field | Value | | --- | --- | | Publication source | Find A Tender Service | | Latest notice | https://www.find-tender.service.gov.uk/Notice/043730-2025 | | Notice type | UK2 - Preliminary Market Engagement Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Not Specified | | Procurement method details | Not specified | | Tender suitability | Not specified | | Awardee scale | Not specified | | All stages | Planning | ## Dates | Field | Value | | --- | --- | | Publication date | 29 Jul 2025 | | Submission deadline | Not specified | | Future notice date | 5 Sep 2025 | | Award date | Not specified | | Contract period | 30 Sep 2027 - 30 Sep 2032 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £12,618,000 | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Planning | | Lots status | Planning | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | LONDON BOROUGH OF HOUNSLOW | | Locality | HOUNSLOW, LONDON | | Post town | Twickenham | | Postcode | TW3 3EB | | Country | England | | ITL 1 | TLI London | | ITL 2 | TLI7 Outer London - West and North West | | ITL 3 | TLI75 Hounslow and Richmond upon Thames | | Local authority | Hounslow | | Electoral ward | Hounslow West | | Westminster constituency | Feltham and Heston | | Delivery location | TLI75 Hounslow and Richmond upon Thames | ## CPV Codes ### Divisions - 75 - Administration, defence and social security services ### Codes - 75110000 - General public services ## Release History - 29 Jul 2025 at 09:31 - Planning - UK2 - Preliminary Market Engagement Notice - https://www.find-tender.service.gov.uk/Notice/043730-2025 ## Documents - https://www.find-tender.service.gov.uk/Notice/043730-2025 29th July 2025 - Preliminary market engagement notice on Find a Tender ## Notice URLs - https://www.legislation.gov.uk/ukpga/2023/54/contents ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-h6vhtk-0567be. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-0567be.json.