A shared vision for social landlords
Collaborative Change became part of the Voicescape team in April 2019. Our shared commitment to helping social landlords build sustainable tenancies provides the foundation for a new full-service offer. Collaborative Change’s data science and behavioural insights have supported numerous social landlords to understand and engage their tenants more effectively. Building this into Voicescapes technology enables us to offer unique predictive software solutions at scale.
Software that identifies tenants support needs
Voicescape is now able to offer interactive profiling software that helps social landlords monitor and manage Universal Credit risk. The software predicts future tenant rent related behaviours and quantifies rent income at risk. This deep analytical understanding of tenants provides clear evidence on key routes to effective tenant engagement. With this analysis, landlords can pro-actively prioritise those tenants who are most likely to struggle. Offering additional support to these tenants increases protection against debt and a provides a more secure tenancy. It can also significantly reduce the cost of collection for the landlord.
Research highlighted business-critical decisions being made on misleading information
Collaborative Change undertook extensive research to build the statistical models that generate robust estimates and predictions of Universal Credit impact. The study found that many providers’ own estimates were prone to significant inaccuracy. This resulted in business-critical decisions being made on misleading information. The initial study was built through a collaboration with five registered social landlords who collectively had 48,000 tenants and 1.3 million rent transactions. The analysis revealed an £60k-£130k increase in arrears per thousand tenants. With the continued roll out of Universal Credit, these figures are predicted to increase dramatically in the next three years. The research was used as the foundation to build a range of diagnostic tools and the full analytics software application.
John Doyle, managing director and Founder at Voicescape said:
“Universal Credit has changed the landscape for all social landlords. It has own up a host of new operational and logistical challenges for the sector. As the onus is now on the tenant to pay it themselves, collecting the rent can be more of a challenge. Collaborative Change have developed a rigorous approach to evidence and data science which complements our existing technology. We can now optimise existing products for our current and future clients. More importantly, providing evidence-based tools based on predictive analytics enables us to plug a significant gap in services offered to the social hosing sector.”
Chief behavioural officer at Voicescape and founder of Collaborative Change, Steven Johnson, said:
“The impact Universal Credit has had on social housing providers and the balances of their tenants cannot be underestimated. Our technology can help to manage this situation and minimise the financial risk to the organisation. It’s fantastic to join forces with Voicescape to offer a software service offering real time Universal Credit risk analysis. Housing providers have typically only had 9% of the total number of Universal Credit claimants so far. The continued roll out across the country throws up an enormous challenge between now and March 2022.