Benchmark your organisation’s key financial metrics with other third sector organisations - Join Finance Count 2013
23rd October 2012
Finance Count 2013, the sector’s leading financial management benchmarking study, has been launched by Agenda Consulting and Charity Finance Group. Over 140 organisations of different sizes and sub-sectors have participated over the past three years of the study, which benchmarks each charity’s finance function against a customised group of other participants, as well as the sector as a whole.
This year’s study takes the form of a new, streamlined questionnaire, focusing on key financial management metrics, and aims to enable organisations to pinpoint key improvement opportunities and areas of concern.
Caron Bradshaw, CEO of CFG, said “Benchmarking is increasingly important in the sector. We have worked hard this year with Agenda Consulting to ensure that Finance Count captures the most relevant, meaningful and worthwhile information for charities today, ensuring that it offers a cost-effective opportunity for organisations to explore how their management and performance compares with their peers. This is an invaluable service to any organisation in a period of adaptation.”
A CFG member who recently participated in the study commented, “Benchmarking ourselves against others has given us a better sense of where we are, and where we need to improve.”
Finance Count 2012 provided detailed insight into how charities are reacting to the current economic climate and where they could make efficiency savings. It demonstrated:
• Where charities were top performers, such as in the area of credit repayment, leading to significant benefits to these organisations when negotiating costs.
• Where there were common issues across the sector, such as balancing income and total costs when delivering public service contracts.
• Which areas of the finance function were being prioritised by different organisations seeking to adapt to the changing environment.
Kate Sayer, Partner at Sayer Vincent said “Rather than being part of an admin cost, finance functions should be focussing on how they contribute value to the organisation. This study helps them to identify how they can do more to add value”.
A free information session is being held for the survey at NCVO on Thursday 15 November from 2-4pm, where attendees can to talk to Agenda and hear a case study from a participating organisation.
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Notes to Editors:
1. CFG is the charity that promotes best practice in charity finance management, supporting finance managers with conferences, training and a wealth of web-based information. CFG is also active in the policy arena, working on issues that affect charity finances. CFG’s circa 2100 members are responsible for the finances of charities with a wide variety of income levels. Between them our members manage some £21.75 billion in charity income per year, around half of the sector’s income.
If you would like to discuss any of these issues further please contact the CFG Policy team at email@example.com or on 0207 2508347
2. Agenda Consulting is a HR management consultancy specialising in employee surveys, reward and benchmarking in the not-for-profit sector. Agenda provides participants in their benchmarking studies and employee surveys with unique and constructive comparators that empower organisation to position themselves against its competitors and proactively address areas where action is needed to improve efficiency and cost-effectiveness.
For more information please contact:
Tracy Jarvis, Head of Marketing, Agenda Consulting,
Tel: 01865 263720, firstname.lastname@example.org
Roger Parry, Director, Agenda Consulting,
Tel: 01865 263720, email@example.com
Or visit http://www.agendaconsulting.co.uk/benchmarking/finance_count/