Public sector

London Borough of Croydon Council

21/05/21

The Challenge

The council set out its ambitious plan to achieve inclusive, sustainable growth. The Economic Development Plan outlined the need for infrastructure improvement and the support needed for people and business growth to move the borough towards the vision outlined in ‘We are Croydon.’

The local business community is a key focus. Initiatives include encouraging and supporting 2,000 business start-ups per annum and investing back into the regional economy by buying local.

The challenge faced by the council is achieving this growth against the backdrop of stretched resources, increasing legislative pressure around late payment and continued funding cuts.

Oxygen’s Solution

Croydon Council made the decision to implement Oxygen’s early payment programme, prompted by the range of benefits the solution could deliver. Oxygen Finance is now Croydon Council’s partner in delivering their Premier Supplier Programme, a service that has enabled the council to generate much-needed income and make significant improvements to their processes and efficiency. Croydon Council is the largest employer in the borough, with a workforce of 10,500 and a spend of over £900 million a year across a large number of services for children and adults, as well as housing, planning, benefits, environmental and cultural services.

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£900m spend a year

10,500 workforce

2,000 business start-up supported

£1.2m+ rebates generated

Testimonial

Head of Finance Service Centre

“It was a very positive and collaborative exercise. The team at Oxygen Finance provided huge support to Croydon in designing, developing and implementing solutions to overcome challenges.Oxygen Finance also helped us think of innovative ways to increase supplier take-up.”

Vicki Richardson

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