BDO Greenlight were asked to undertake a value for money review and analyse what KPIs (key performance indicators) were in place or could be introduced by the client to provide the information needed by their internal managers and to satisfy investors. Our consultants looked at the use of benchmarking to assess business effectiveness and what measures a business KPI dashboard should consist of.
The work was conducted by one of our Senior Consultants who had an accountancy background, with the support of a second BDO Greenlight consultant. The project team worked together to conduct interviews with managers and to do desk research to see how similar organisations used KPI dashboards for VFM (value for money) purposes. It was important to establish with the client what their understanding was of VFM KPI measures and what they were expecting from them. The team also held workshops to challenge existing working practices.
The outcome was a new KPI dashboard developed in conjunction with the business. During the work, a better understanding was developed about what represented value for money, and the business committed to change what KPI data they capture so that all component parts of the business could start to demonstrate that they work effectively to provide a value for money service.
Key Skills Used:
Key Business Benefits:
The business was able to introduce a KPI dashboard to enable the client to demonstrate value for money in its services.