The impact of new technology, tight regulations and complex contractual requirements have made financial services a tricky area in which to procure effective, value-for-money solutions. In this framework collection, ESPO have joined forces with two other local authority owned procurement organisations, NEPO and YPO, to pool our expertise and resources to make meeting your financial services requirements easier, less risky and less of a burden on your organisation. During the procurement process, we consulted widely with our customers to make this a suite of solutions by the public sector for the public sector, to remove the hard work and provide real time savings.
Frameworks
The insurance brokerage and associated service framework allows for direct comparison of each insurance broker and enables customers to appoint one insurance broker as your representative on matters relating to insurance.
Through entry via the 1160 Insurance Brokerage framework, the DPS provides access to pre-qualified insurance providers offering provision of all classes of insurance. This arrangement keeps the choice of an insurance broker and an insurer separate so you can drive real value from both processes together.
This solution covers the requirements of contracting authorities for the provision of Payment Card Services. Payment cards are now a major spend management tool, allowing you to save money on back office processing and generate revenue too. It is a multi-lot solution comprising of four (4) suppliers providing services in two major areas:
Lot 1 - Prepaid Payments A multi-supplier lot for the provision and maintenance of Prepaid Card Accounts.
Lot 2 - Corporate Payments A multi-Supplier lot for the provision and maintenance of Commercial Procurement Cards.
This solution provides a fully managed service for core transactional banking and is primarily used to provide contracting authorities with the bank accounts necessary to receive and pay money, in order to manage their financial affairs. The service is used to deliver core transactional banking arrangements, providing bank account structures to be used for outgoing payments. These include: creditor cheques, CHAPS, BACS, direct debits, ‘Faster Payments’, standing order payments, balance requests, commission charges and associated interest payments and other banking activities associated with public sector organisations. Customers are able to manage all account facilities and related services via a secure online banking platform.
Alongside these core transactional services, the solution includes ancillary services which sit outside the core contract, such as receipt accounts to receive payments, rent allowance accounts for benefit payments, wage accounts for staff salary payments and petty cash accounts and treasury deposits.
Please contact Iain McFaul on 0792 008 6357 or resources@espo.org if you have any questions or would like to discuss our frameworks further.
