Colleges are increasingly turning to financial benchmarking to manage cost, evidence and support decision-making, and inform their action-planning. Below we hear from 3 senior leaders why it's so relevant to their colleges.

Stewart Cross, Capital City College Group

“We’ve got to that stage in our post-merger recovery where we are now looking really closely at how we get that final 20% of efficiency that will take us into a more comfortable financial position. And we know (Benchmarking) can tell us which of our departments are more or less efficient, and what the underlying reasons are behind any lack of efficiency in our delivery."

Ian Rule, Richmond upon Thames College

“What we like with the Tribal model is that we get down into the college - it’s not just high-level financial health information. We didn't just benchmark the financials; we didn't just benchmark the budget; we did a construct of the two... it has helped sharpen internal contribution accounting, financial performance, and curriculum areas, as well as confirming or challenging us on how much we're spending on certain central services.”

Jon Rollings, Greater Brighton Metropolitan College

“Ultimately this [Tribal Benchmarking] is a tool designed to do a very specific task and it does it in a very helpful, clear, objective way. What we’ve got with that is some helpful comparison and granularity in terms of how we’re operating financially as an organisation to support any of our detailed conversations.”

Free extract of our Benchmarking analysis for Further Education colleges

We're currently making available a bespoke extract of our Benchmarking analysis for Further Education. Better understand how financial operations at your college stack-up against the backdrop of the wider sector.