vfm indicators

Value for Money (VfM) Indicators is the leading benchmarking tool for assessing value for money in the public sector. HM Treasury specifically recommends collecting and reporting against indicators, for organisations with more than 250 employees.

VfM Indicators has the widest coverage of back office functions, which are under scrutiny in many parts of the public sector at present. You can assess performance of finance, human resources, information and communication technology, estate management, procurement, legal functions and communications.

VfM Indicators will assess your organisation’s performance, and pinpoint its strengths and weaknesses, helping you to make more informed decisions on budget and improvement. The system also provides you with solid, data-related evidence to support decisions.

Benefits

You can use VfM indicators to:

  • self-assess your performance using robust and relevant indicators
  • pinpoint the strengths and weaknesses in your organisation 
  • identify areas of efficiency and improve your use of resources
  • compare your financial performance with your peers
  • see how your departments compare individually and across the piece
  • demonstrate to the 'board' your commitment to improving efficiency
  • compare your financial satisfaction with your peers.

If you don't measure up, how can you manage it?

We use cost and productivity indicators to measure your economy and efficiency. And your effectiveness is measured by indicators assessing user satisfaction, modernising approach and impact on organisational performance.  

We are continually expanding the depth of reporting available, drawing on our extensive historical database. By taking part you will be able to compare your organisation to a wide range of members across the public sector.  

What do we cover?

CIPFA VfM Indicators cover a wide range of back office services giving you the opportunity to benchmark up to seven key areas of your organisation:

  • communications
  • estates management
  • finance
  • human resources
  • ICT
  • legal
  • procurement.

In addition, our survey tool provides a mechanism for you to survey users and commissioners of the services that you sign up to. It also allows you to collect data around user ICT competence for those taking part in that area.  

Get your results when you want

We can now get your report anytime, enabling access to information and data that will be essential to help you modify and plan your work programme.

Simply return the questionnaires as best fits with your internal requirements – we will deliver your comparisons (benchmarked against your sector and across the whole public sector) within 15 working days (first reports available from September 2014).

Sign up

If you have any questions contact E: John.Wallace@cipfa.org or fill out the membership form below.