The FM Model is an online analytic toolkit helping public bodies transform and improve their financial performance.
It allows you to assess the financial management and sustainability of your organisation. This is crucial if you are seeking to transform your organisation – and robustly prepare for change in these challenging times.
Recently revised, the FM Model helps you review your financial management. You can also use it to focus on a particular aspect of financial management that you wish to improve.
Read our thought piece on transforming the performance of public bodies through financial management:
Accountability, Performance and Transformation.
How can the FM Model help you?
The FM Model allows you to both identify weaknesses within your organisation and confirm its strengths. It will also help you develop and put in place a target-driven plan. This will allow progress to be closely monitored.
The FM Model has been completely updated to reflect today's public sector. The latest developments are now reflected: issues such as business partnering, a commercial focus, governance, procurement and the CFO's role.
And it has now enhanced functionality. We have improved the online diagnostic. It is slimmed down, paperless, faster to complete and more intuitive.
What they say
“Excellent value for money and information at my fingertips… for this kind of information, you could easily spend four times as much on consultants coming in to tell you exactly the same thing." Margaret Lee, Section 151 Officer and Executive Director for Corporate and Customer Services, Essex County Council
"The value was credibility within the organisation of a respected independent professional body, carrying out a review of the financial environment within the organisation against best practice standards." Derek Lindsay, Director of Finance, NHS Ayrshire and Arran, Ayr
"A very useful benchmark of the organisation’s financial management and where improvement is needed the most… a must for senior management wanting to make sure they are in the strongest possible position in these financially challenging times." Nigel Addison Smith, Finance Director, Exports Credit Guarantee Department
The new version helps with:
- sound decision making and accountability
- improved understanding of finances
- enabling businesses of all kinds to manage their risks
- an assessment of total financial management capability
- providing the finance function with focus
- identifying cost-cutting opportunities and efficiency gains by accurately pinpointing weaknesses and acknowledging strengths.
Who uses the FM Model?
Over 300 central government departments, government agencies and local government bodies in the UK and abroad have used the CIPFA Financial Management Model.
Central government departments include HM Treasury, the Ministry of Justice and associated departments, HM Prison Service, HM Court Service and the Tribunal Service, while 240 local authorities and 26 health boards have also found it beneficial.
The FM Model is also used extensively in North America and the Middle East and is being piloted in New Zealand.
Start the journey to transforming your financial health
Buy the FM Model