Grant Thornton UK LLP and the Chartered Institute of Public Affairs (CIPFA) today jointly launched a new insights and benchmarking platform to support and champion high performance in public services.
CFO Insights is designed for use by financial directors of local authorities and public sector suppliers.
Clearly presented in scorecards and charts, and based on Grant Thornton's Place Analytics platform, the platform enables users to rapidly analyse, segment and visualise all the key data relating to the financial performance of 407 local authorities across England, Scotland and Wales.
CFO Insights is the only tool that allows finance directors to compare any local authority's income and spend by category, as well as the outcomes for that spend, in the context of the local socio-economic conditions. Access to this type of detailed data will give finance directors insight to drive, and the evidence to support, financial decisions for their own authority.
Phillip Woolley, Partner at Grant Thornton UK LLP, said: "We have partnered with CIPFA to create CFO Insights because we share a desire to support and champion high performance in public services. We believe that this can only happen through better insight and understanding that is based on the transparency of data and the sharing of best practice throughout the UK."
Rob Whiteman, Chief Executive at CIPFA, said: “Finance directors are on the frontline tackling the huge challenges that face public service. CFO Insights enables local public bodies to compare costs, outcomes and other indicators, so that they are able not only to work on what has happened in the past, but also to find better ways of managing demand in the future.”
The financial data is populated by CIPFA and is combined with Grant Thornton's data analytics expertise. The service is subscription based and will be fully supported with training and a key account manager.
For more information please visit CFO Insights.
We will be releasing a series of articles with The Municipal Journal using data from CFO Insights – please view all of our existing articles below.