The digital transformation of planning is essential to the UK government’s growth strategy, according to TPX Impact.
- Björn Conway, head of TPX Impact, emphasises the need for improved service efficiency within the planning system.
- Despite financial challenges, the company is focused on enabling digital updates for the Land Registry to enhance efficiency.
- The government’s planning process aims to expedite home building targets, aligning with economic ambitions.
- TPX Impact acknowledges short-term financial impacts, yet observes new contract gains and anticipates steady revenue.
The digitalisation of the UK’s planning system is crucial in supporting the government’s growth objectives, according to TPX Impact. The company’s leader, Björn Conway, highlights the need for enhanced efficiency within the Ministry for Housing, Communities and Local Government. “It’s the kind of enabling that allows the manifesto pledge and the mission around growth to be carried out,” Conway told UKTN.
Land Registry, predominantly reliant on paper-based processes, exemplifies areas where digital transformation is needed. TPX Impact collaborates with Land Registry to provide digital updates on applications, thereby reducing inbound calls and enhancing organisational efficiency.
The company faces financial challenges, reporting a 9% fall in turnover to £37.8m over six months and halving its pre-tax losses to £4.1m. These difficulties are attributed to a slowdown in government spending, TPX’s major client, amid a well-publicised £22-40bn “Black Hole” in government finances. This has led to delays in decision-making regarding new contracts and the postponement of existing commitments.
Despite these issues, TPX Impact notes an increase in new contract wins. However, the company expects flat revenue growth for the year, with adjusted EBITDA anticipated between £7-£8m. Their shares have decreased by 6.9% to 37p in early London trades, illustrating the market’s cautious stance.
In July, the UK government introduced proposals to expedite the planning process, aiming to meet its target of building 1.5m new homes. The government asserts that “sustained economic growth is the only route to improving the prosperity of our country and the living standards of working people.” Decisive reform in the planning system is emphasised as urgently required.
Digitalising planning processes is pivotal for advancing the UK’s economic growth, despite financial hurdles.
