IPS User Group

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IPS User Group
25th September 2007 Chancellors Suite, Rootes
Social Building, Warwick University
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Our Mission
Excellence in Service Delivery
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Our Vision

• Our standard of work and our relationship with
  our customers should identify us as a first class
  provider of estate accounting and investment
  services to Insolvency Practitioners (IPs) and
  Official Receivers (ORs) using the Insolvency
  Services Account and thereby all stakeholders in
  Insolvency.

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What we are doing

• Continuously improving our service by
• Increasing Efficiency
• More knowledge sharing
• Best Practice
• Greater Flexibility
• Raising Professional Standards

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What we look like
A discrete area of work to enhance the unclaimed
funds recovery to creditors.
Cashiers

• Unclaimed
• Funds

Estate Accounts Enquiries
Customer
Business

Governance Support

Accounting
Receipts Payments
Releases Finals
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Our Key Performance Indicators

• To process cheque payment requests within 4 days
  of receipt
• To process BACS payment requests within 2 days of
  receipt
• To post receipts to the correct account on the
  day of receipt
• To action final account submissions within 5 days.

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Service Delivery 2006/2007 (1)
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Attainment 05/06 vs 06/07 (1)
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Open IP Estates April 2004 to March 07
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Voluntary Estate Data
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Voluntary Estates and the ISA
Do you still want to use the ISA for Voluntary
Estate Monies?
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Voluntary Estates and the ISA
Would preventing use of the ISA for these funds
be good or bad for you?
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Voluntary Estates and the ISA
Please let us know by answering our SURVEY
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March 2007 Survey
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Survey Customer Experience
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Survey Highlights

• 93 satisfied with overall experience
• lt1 negative response
• 51 say our service is quick or very quick
• 78 overall say EAD staff are helpful, polite and
  informative.
• Getting better but still validation issues due to
  sample size

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Looking Forward

• A larger sample please!

• 3000 surveys sent
• Only 112 returned
• ? 3.7!!!

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On-Line IP Services
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Upgrades delivered to BANCS/Online (1)
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Upgrades delivered to BANCS / Online (2)
IMPORTANT !!!
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In the pipeline (1)
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In the pipeline (2)
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Unclaimed Dividends

• IP still in office?

• Unclaimed dividend?

• Tracing Agents

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Insolvency Regulations 1994
Regulation 18
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Insolvency Regulations 1994(2)

• Change planned for 6th April 2008.

• For administrations and administrative
  receiverships.
• Enabling Unclaimed Dividends to be paid into the
  ISA
• NOT compulsory.
• Fee expected of 25 per estate per receipt.
• BACS and Cheque fees to be payable as now.
• CVLs payment to the ISA also be made voluntary.

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Questions

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