Finance services

Capita wins extension of London Borough of Bexley financial services contract

The London Borough of Bexley has extended its contract with Capita plc (Capita) to include transactional finance services.

Following the expansion, Capita now manages accounts payable and receivable services for the Council, these teams process payments to customers and suppliers.

The six-year deal, worth £2.96m, commenced on November 1, 2021 and builds on the board’s long-term revenue and financial assessment contract with Capita.

Capita secured the extension to transform service to Bexley residents and invest in improving the experience for customers and suppliers who use it.

The transformation will include rolling out their state-of-the-art document scanning and invoice reconciliation capability which they successfully use today in a number of local authorities they support.

Capita’s transformation could save the board up to £1million over the life of the arrangement.

Paul Abraham, Managing Director and Client Partner of Capita Local Public Service said;

“We are delighted to support our partner in this new area. By modernizing the service with this technology, we will help improve the customer experience by further speeding up the processing and processing of payments to customers and suppliers – which has always been important, but never more so as businesses emerge and recover from the pandemic.”

Addition of Councilor David Leaf, Deputy Leader of the London Borough of Bexley and Cabinet Member for Resources;

“Capita is one of our long-standing and trusted partners and we are happy to work with them to improve services to our residents, reduce costs and increase productivity.”

Notes to editors:

The total IFRS 15 transaction price (backlog) is £2.96 million.

  1. Capita has been a partner of the London Borough of Bexley since 1996.

  2. To date, Capita has been responsible for the collection of council tax and corporate rates, as well as the administration and assessment of housing allowances and associated financial assessments.

  3. The current contract runs until 2028 with a 4-year extension option.

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About Capita

Capita is a consulting, transformation and digital services company. Every day, our 55,000 colleagues help millions of people by providing innovative solutions to transform and simplify the relationship between government and citizens, businesses and customers. We work in partnership with our customers and provide the knowledge and cutting-edge technologies that save them time, allowing them to focus on what they do best and making people’s lives easier and simpler. We operate through three divisions – Capita Public Service, Capita Experience and Capita Portfolio – in the UK, Europe, India and South Africa. Capita is listed on the London Stock Exchange (CPI.L). Further information can be found at: http://www.capita.com