Benchmarking the Finance Function - Finance Count 2012
Finance Count is a financial management benchmarking tool tailored specifically to the needs of the third sector, designed by the Charity Finance Group and Agenda Consulting.
Over 140 organisations of different sizes and sub sectors are involved. The organisations taking part get a clear picture of how the financial processes in their organisation compare with those in other voluntary and community organisations. This provides a powerful, tailor-made tool which they can use to contribute to performance improvement. The reports also contain case studies on good practice from high performing organisations involved in the study.
Every year we run a free information session for those interested in finding out more about Finance Count. The session will give you a chance to talk to us about Finance Count and hear a case study from a participating organisation. To find out more please contact Brita Benson on 01865 263720 or email.
There are two ways that organisations can be involved, as a participant and as a non-participant.
Participants complete the on-line questionnaire and receive:
• Bespoke organisation executive summary looking at improvement opportunities
• Colour-coded organisation scorecard
• Sector-wide Report
• Detailed Statistics Report
• Drill down Reports
• 1-1 telephone consultation
• Online access to our benchmarking database for 12 months
Non-Participants do not complete the on-line questionnaire and receive:
• Sector-wide Report
• Detailed statistics Report
Benefits experienced by participants include :
• Provides early warning signs of potential issues
• Gives reassurance for what is already working well
• Helps determine priorities for action
• Provides evidence to support change
• Useful in setting meaningful and realistic targets
• Gain new insights on good practice and how to achieve it
• Enhances your ability to report back to management and trustees.
Key topics covered include:
• Transaction processing: purchasing, the purchase ledger, expenses, payroll and income processing
• Internal and external reporting, and use of performance management techniques
• Control and decision support: planning, budgeting cash and treasury management, financial governance and public service delivery
• Finance function: staffing levels, qualifications, training, internal audit, effectiveness, leadership and planned changes
• Central function costs, trading, and investment management.
Comments from previous participants:
“It provided a good picture of where our finance team stands compared with what peer teams elsewhere are doing and achieving." John Crowther, Head of Finance, Action for Blind People
"To me benchmarking is one of the most powerful tools in an effective finance department’s armoury and is key to the development, and operation of a world class function." Peter Bradbury, Chief Financial Officer, Arthritis Research Campaign
Finance Count 2013 brochure
More information can be found on the Finance Count website.