Did you know that a UK local authority scored favourably when benchmarked against leading global organisations such General Electric, Shell, BT and many others? Try it for yourself and find out how you score!
As specialist accountants for the public sector, Moore Stephens Insight are experts in supporting finance professionals through financial transformation and continuous improvement programmes.
In order to improve finance function effectiveness, organisations need to:
- Understand where they are (compared to where they want to be and/or to other organisations)
- Identify areas for improvement
- Adapt and change
- Measure results over a period of time
Benchmarking is part of a process of continuous improvement and enables you to assess where you are against where you want to be and/or against other organisations. This in turn allows you to set specific objectives for improvement, change and measure results.
Benchmarking will help you to:
- Set objectives to support business cases for change – by highlighting measurable inefficiencies which can be addressed
- Understand and improve practices in support of your business strategy by measuring and comparing your performance against other organisations
- Support your internal review to achieve continuous improvement
- Learn from others who may excel in the area(s) you need to improve
- Access comparative data and share knowledge with other organisations
- Measure results over time (e.g. before and after a transformational project)
Moore Stephens Insight & APQC
Moore Stephens Insight has teamed up with APQC to support you to benchmark your finance function effectively. APQC is the leader in benchmarking best practice. They are a ‘not for profit’ organisation and:
- Support organisations around the world to improve productivity and quality
- Facilitate and compile comparative data
- Maintain a database of core business benchmarks
- Encourage organisations to submit data for comparative purposes
- We use APQC best practice benchmarking knowledge and methods and combine them with our accounting and public sector expertise. This means you gain access to global knowledge of best practice applied to your specific environment to help you to achieve financial efficiency.
To take part in benchmarking your finance function (or any part of it):
- Register with APQC (free of charge)
- Download and complete the benchmark questionnaires. Your data is totally confidential between yourself and APQC. The only public exposure of your data is in anonymous aggregates with other organisations
- Receive a free copy of your report showing performance against others
How Moore Stephens Insight can help you
We provide independent advice to support you to:
- Apply the most appropriate benchmarking approach and strategy for your organisation
- Set up a benchmark project – whether as part of an internal continuous improvement programme or a financial transformation project
- Interpret and complete the APQC questionnaires
- Interpret the report results – to identify areas for improvement; assess the basis for change; evaluate your strategic options (e.g. shared services)
- Facilitate introductions with other organisations to compare your results and share knowledge and lessons learnt
Insight MSC Welcomes New Director Brian Mahon*
Insight MSC are delighted to announce the appointment of Brian Mahon, FCMI, CMgr, MBA, BSc (Hons), as a Director of Insight MSC. Brian has over 15 years’ experience as a business change and transformation expert specialising in Finance/ERP change projects.
For the last fifteen years, Brian has led enterprise scale change initiatives at Board level across a wide range of public and private sector organisations including Central Government, Local Authorities and Higher Education Institutions as well as large private companies. Prior to this Brian managed IT operations and systems development teams in the UK and overseas.
Brian’s key areas of expertise are Programme and Project Management, Business change management, organisational transformation and implementation of large scale ERP systems solutions. He has experience of many ERP systems such as SAP, Oracle, JD Edwards and Agresso.
Clients have included Manchester Metropolitan University, University of Leeds, East Sussex County Council, the House of Commons, the Office of the Rail Regulator (ORR) Atkins plc and others.
We are excited by the wealth of experience, passion and enthusiasm Brian brings to Insight MSC management and look forward to working together and building the business further.