Tag: Capita

Capita scores 10 year pension contract

Posted on November 23, 2023 by - News

KR9984 Milan, Italy – August 10, 2017: Capita
logo on the website homepage.

Despite a security breach in March which exposed pension data Capita has secured a £239 million 10-year managing the Civil Service Pension Scheme (CSPS).

The contract, effective from September 2025, involves modernising pension administration systems through “enhanced system design and digital innovation,” according to Capita.

The company also plans to integrate generative AI to offer personalised and engaging digital channels for pension holders as they prepare for retirement.

Capita said it will enhance the overall customer experience, providing intuitive interactions for  clients and pension members while supporting a data-driven approach for scheme employers.

In addition to overseeing the CSPS, Capita will manage pensions payroll admin services related to the Civil Service Compensation Scheme and the Civil Service Injury Benefit Scheme, along with associated finance and accounting services.

Capita gets another government security contract

Posted on June 15, 2023 by - News

Outsourcing supremo Capita has been awarded a £50m contract, alongside PwC, to replace the Action Fraud cyber crime reporting service.

The irony of this news will not be lost as Capita is facing possible regulatory investigations over its cyber security stuff-ups after 90 of its customers, including pension funds and well-known brands had their customer and staff data stolen from its systems in a ransomware attack.

The replacement of Action Fraud comes after the service was slammed for its multiple failings. In 2021, a Work and Pensions Committee report on pensions scams and fraud outlined multiple concerns with the body, many of them stemming from a 2019 investigation by The Times which alleged staff malpractice and inadequate resourcing at the service, which the City of London Police oversees.

Capita will provide contact centre resources and the underlying technology to enable the public to make reports. PwC, meanwhile will provide technology services for the crime and intelligence management underpinning the National Fraud Intelligence Bureau (NFIB), which assesses and analyses the reports currently received by Action Fraud. The new service is scheduled to become operational by the end of June 2024. Action Fraud’s existing services and systems will remain in place until that time.

 

Capita continues to flog off family silver

Posted on March 7, 2023 by - News

Capita is divesting “non-core” parts of its business starting with its resourcing business.

Inspirit Capital is paying £21 million for Capita Resourcing, HR Solutions and ThirtyThree, gaining the senior management and teams that work at the human resourcing operations.

Reported revenues and profits before tax of the combined businesses for the year to 31 December 2022 were £78 million and £10 million respectively, with gross assets of £35 million as of 31 December 2022.

This latest sale will give the firm the opportunity to further concentrate on its two core operating areas: Capita Public Service and Capita Experience.

Capita CEO Jon Lewis said the transactions offer significant growth opportunities for the businesses, their clients and partners.

Capita flogs more family silver

Posted on September 19, 2022 by - News

Capita has sold off another company claiming that it is part of a cunning plan to become “more focussed and sustainable”.

The professional services giant confirmed it has agreed to sell Pay360 to Access PaySuite in a £150 million deal on a cash-free and debt-free basis.

For those who came in late, Pay360 is a UK-based, FCA regulated payments business with 2,500 customers across the public and private sectors.

Its gross assets at 30 June 2022 were £63.6 million and for the year to 31 December 2021 it generated revenue of £45.8 million , EBITDA of £10.5million and profit before tax of £7.1 million .

Capita flogs off family silver

Posted on August 3, 2022 by - News

KR9984 Milan, Italy – August 10, 2017: Capita
logo on the website homepage.

Capita is flogging off two more of its businesses for £60 million as it off-loads what it calls ‘non-core’ companies.

Gone are its Capita Real Estate and Infrastructure (‘REI’) and GL Hearn (‘GLH’) businesses.

For those who cant spot annoying acronyms REI provides specialist advisory, design, engineering, environmental and project management services for land, building and infrastructure owners.

Capita secures Northern Ireland education contract extension

Posted on April 8, 2022 by - News

Capita has secured a two-year contract extension worth more than £50 million to continue delivering managed IT services for all of Northern Ireland’s 1,100 schools.

The Northern Ireland’s Education Authority (EA) contract extension will last until 31 March 2024.

Capita will provide local area networks, cloud services, service desk support, networked desktop and portable devices and digital learning services for pupils and teachers.

Capita completes Trustmarque sale

Posted on April 4, 2022 by - News

Capita has flogged off the professional services giant Trustmarque which it bought for £57 million in 2016 but agreed to sell to private equity firm One Equity.

The company received net proceeds of £118 million at completion which included an additional £3 million of contingent consideration.

Capita says the proceeds, net of transaction costs, will be used to strengthen the balance sheet and reduce debt.

One Equity Partners has a history of investing in channel businesses on an international level.

Capita flogs Trustmarque

Posted on February 1, 2022 by - News

Capita has sold off IT reseller and solutions provider Trustmarque to private equity firm One Equity Partners for £111 million.

For those not in the know, Trustmarque provides managed services and hardware re-sale and was first purchased by Capita in 2016 for £57 million.It has Microsoft, HPE, AWS, IBM, Dell among its vendor partners and had net reported revenue of £122 million in 2020, Capita said.

Capita has been selling off what it calls “non-core businesses” to strengthen its balance sheet and to achieve a target of £700 million of proceeds from disposals.

Contact centre industry suffering

Posted on October 16, 2020 by - News

With the COVID-19 pandemic posing steep challenges to the contact center industry worldwide this year, providers are facing additional uncertainties in Europe and the UK amid the looming no-deal Brexit and changes to UK regulations affecting temporary workers, according to a new report ISG report.

The report with the punchy title “2020 ISG Provider Lens Contact Centre  – Customer Experience Services report for Europe and the UK” found trade and labour issues remained high on the industry’s agenda even as the pandemic brought rapid changes in consumer behaviour.

Reforms to the UK’s IR35 regulations, which limit the role of temporary worker, came as a blow to many public- and private-sector enterprises that hire freelancers, experts, digital consultants and other types of independent workers.

The new rules could open up opportunities for organisations willing to collaborate with providers, startups and technology vendors for “near shoring” or offshoring of labour. Meanwhile, negotiations over the UK’s exit from the EU continue to loom over the region even as many countries, especially Italy and the UK, were hit hard by the pandemic.

Capita launches consulting arm

Posted on December 30, 2019 by - News

KR9984 Milan, Italy – August 10, 2017: Capita
logo on the website homepage.

Troubled outsourcing giant Capita is launching a consulting arm with the imaginative title Capita consulting.

The outfit is trying to paddle its way upstream with its hefty debt burden and perception issues.

The new division has 30 partner-level consultants and 270 analytical and technical consultants; this will grow to 450 consultants in total by the end of next year.

CEO Jon Lewis said: “Our new consulting business will challenge the established companies in this market, by offering practical, hands-on expertise drawn from 30 years of designing, building and running the processes of hundreds of organisations.”

Capita is back in the black

Posted on March 18, 2019 by - News

Capita is starting to show signs of recovery, but its IT services division did not get the memo.

For the year ending 31 December, 2018 Capita reported sales of £3.9 million down 7.7 percent on the previous year.  Its operating income, however, improved from a £420  million loss to £34.9 million as it continues its radical restructuring.

Bytes was the king of government IT contracts

Posted on January 14, 2019 by - News

Bytes Software Services was the fifth largest supplier to central government last year but ranked ahead of IT behemoths Capita, DXC Technology, Atos, IBM, and Fujitsu.

Number crunchers from public sector consultant Tussell said that the software reseller won £328 million worth of government contracts making it the largest IT-dedicated supplier to the government last year.

Generally it ranked behind four other organisations: defence contractor QinetiQ (£359 million), outsourcer Mitie (£514 million), infrastructure provider Amey (£641 million) and

Government asks outsourcers to write their wills

Posted on November 21, 2018 by - News

Outsourcers are drawing up “living wills”, which lay out contingency plans should they die.

The government was caught off-guard by the collapse of construction giant Carillion earlier this year and wants to avoid a repeat of the mess that followed.

Cabinet minister David Lidington said that Capita, Serco and Sopra Steria have volunteered to create protocols if they drop down the loo.

Capita scores £5.7 million health contract

Posted on October 22, 2018 by - News

Capita has won a five-year contract worth £5.7 million with Essex Partnership University NHS Foundation Trust (EPUT) in the largest HSCN contract to date.

Under the deal, EPUT move to the Health and Social Care Network (HSCN) which is a new data network designed to replace the NHS’ legacy N3 model.

The contract will cover 400 EPUT sites – including hospitals, GP surgeries and NHS clinics – and Capita claims it will provide the trust with increased bandwidth as well as efficient access to the internet and N3’s legacy applications.

Mark Madden, CFO at EPUT, said: “We need a reliable and robust connectivity solution to deliver enhanced connectivity. We are confident that this implementation will enhance user experience for our employees and enable greater interaction and sharing of resources between our sites in the Essex region.”

Joe Hemming, executive director at Capita IT and networks, said: “Capita is an experienced provider of IT networks, and this contract further reinforces our strategy. We look forward to using our technology capabilities to add value and efficiencies for NHS sites across the region.”

Capita’s share price plummets after profit warning

Posted on February 1, 2018 by - News

2408Capita shares have plunged by 50 percent after the outsourcing firm issued a profit warning and announced a major restructuring

Chief executive Jonathan Lewis said the company had become “too complex” and “driven by a short-term focus” and needed to change its approach.

This is the second year in a row Capita has issued profit warnings. This time it has revealed plans to raise £700 million by issuing new shares.

Life should be good for Capita after its outsourcing rival Carillion collapsedlast  month, but it seems to be suffering from similar problems.

Capita operates the London congestion charge, runs the government’s Jobseekers Allowance helpline and administers the teachers’ pension scheme. It also collects the TV licence fee on behalf of the BBC.

A Cabinet Office spokeswoman said as a “strategic supplier” Capita was always monitored by the government and called for the government to make sure that it does not go the same way as Carillion.

The firm employs 70,000 people, about 50,000 of whom are in the UK.

CEO Mr. Lewis, who took over two months ago, said a review had found the company worked across too many markets and services, meaning it was difficult to “maintain a competitive advantage” in every business.

Capita had relied too much on acquisitions to drive growth and had also seen weakness in new contracts, he added.

The company does have some financial strengths. It can call on £one billion in cash and credit facilities, has a significantly higher profit margin than Carillion did and has been taking steps to reduce its debt burden.