Compass model offers significant savings and social value
How an innovative shared service model is generating social value for local authorities
Innovation in the public sector will be key to the future. Speaking at the Local Regeneration and Growth Conference in February this year, Compass Point's managing director, Marcus Coleman, outlines how a local authority controlled company is delivering savings and social value.
Compass Point Business Services (East Coast) Ltd was established by East Lindsey District Council and South Holland District Council as a Teckal company.
It is solely owned by the councils as shareholders, with all the savings made helping to protect the councils' frontline services. Operating as a shared service delivering ICT, HR, Revenues, Benefits, Finance, and Customer Services to the two authorities the company has saved £2.1m in its first 12 months, a 20% revenue saving and met its key performance targets for both authorities.
The model is an interesting one for the public sector as it offers the savings councils need, the flexibility to adapt to changing circumstances and the transparency demanded by residents. The company dynamic creates new ways of operating and delivering public services.
With the introduction of the Public Services Social Value Act in January this year the attraction of a Teckal local authority controlled company that offers an easy way to share services and keep the public's money invested in the future of public services is one which many authorities are being urged to consider. Managing Director Marcus Coleman addressed the conference in February to explain more about the approach and the benefits it offers for others.
Tel: 01775 764745
Compass Point Business Services (East Coast) Ltd
Lincolnshire PE11 2XE