The countdown to your PR24 final submission is imminent, and we understand the pressure of crafting a stellar business case which balances the short term with medium term investments, improvements and benefits to customers and the environment. That’s where ImprovIT can help!
At ImprovIT, we’re experienced in leveraging our industry knowledge and our market expertise, using benchmarking data to help our clients to fine-tune IT strategies and submissions to internal boards and regulatory bodies. We would like to offer our support by conducting a review of your upcoming submission, to validate the assumptions and calculations against the external peers, and against both industry and market insights and best practices.
We have previously worked in this manner with many water companies through PR19 and previous price control periods, helping to link the investment profiles to major benefits, and validating the spend against fair market norms. We offer both a private report with full recommendations, and a side letter which can be submitted to Ofwat alongside your submission, demonstrating an external and independent point of view has been taken.
As was the case in previous control periods, the regulator has given its own opinions on key criteria and the route to a more sustainable, efficient, and customer-centric provision of water services, in Ofwat’s publication, “PR24 and Beyond: Future Challenges and Opportunities for the Water Sector.” These themes are crucial for shaping the industry’s future, and successful application for the PR24 spend profile will depend on these variables.
Our team at ImprovIT shares your commitment to sustainability. We can lend a hand in incorporating green initiatives into your IT strategies. We’ll aim to provide guidance in ways of innovative technologies to optimise energy consumption, reduce your carbon footprint, and boost operational efficiency. Not only will this contribute to a greener future, but it’ll also enhance your company’s reputation and attract socially responsible investors.
And let’s not forget about the importance of new capital investments. We’ll dive deep into the market and provide you with valuable comparisons to help you navigate investment opportunities like a pro. Our goal is to help you prioritise IT projects that deliver the best return on investment, ensuring you stay ahead of the competition and achieve long-term success.
When you partner with ImprovIT, you can expect:
- Industry Expertise: Our team has detailed knowledge of Utilities, having worked with Water Companies, DNOs and DSOs in the past, and assisted with reviews for PR19 and RIIO II. We will provide tailored suggestions that align with your unique requirements and driving towards a transformed future.
- Market Check: By leveraging our comprehensive databases, we will compare your IT plans to industry and market-leading practices, giving you a clear understanding of where you stand, justifying the investment profile to achieve the changes, and helping you make informed decisions around your own positioning with the regulator.
- Refinement Support: We will work closely with you to refine your IT submissions, ensuring they align perfectly with your business objectives and the regulator’s expectations.
We are aware that time is tight, so we propose a short and focused review by us working efficiently to deliver our review and recommendations within your timeframes. Our aim is to provide you with a focused and valuable assessment that enhances your final business case and gives you an expert independent report to demonstrate your commitment to maximising impact during the next five years and beyond.
We look forward to the opportunity to collaborate with you and contribute to your success.
Contact us today and let’s talk about how we could help to enhance your PR24 business planning.