CIPFA VfM Indicators
About Us
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.
What will I get out of it?
You can use vfm indicators to:
- Self-assess your performance using robust and relevant indicators;
- Pinpoint your strengths and weaknesses, and identify areas for further review and action;
- Identify areas of efficiency and improve your use of resources;
- Compare your performance within your organisation (and learn from others);
- See how your departments compare individually and across the piece;
- Demonstrate your commitment to improving use of resources;
- Get evidence of progress in modernising corporate functions and delivering cash savings;
- Monitor the effectiveness and professionalism of your corporate services functions;
- Get help to demonstrate improvements, make decisions and manage performance;
- Learn whether the running cost of your corporate service components is in proportion to resources being managed.
How we evaluate you
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.
When will I get the results?
We will send you an interim report and then a final report at the end of the process - ensuring you’re well-prepared for the new financial year.
Email: vfmindicators@cipfa.org.uk with questions about vfm indicators. You can become a member today by completing our membership form
