Value for Money (VfM)
“Making the most efficient use of our assets and resources to deliver high quality services that successfully meet customer needs and expectations at lowest possible cost”
For Onward, value for money (VfM) is about finding that balance between the cost of the services that we provide, the quality that we deliver and how efficiently we do it. To make value for money effective we need to see it at work through everything we do; a real challenge but one which we are working at.
We have a clear vision of “make a difference in the communities we serve” and we aim to do that by delivering value for money through everything we do in order that we can do more. If we get that right we can protect what we have, strengthen our viability, retain and attract customers, invest more in neighbourhoods, communities and people and make better decisions over the risks and challenges that we face.
Our updated Value for Money (VfM) Strategy sets out our framework for value for money to ensure that we meet both our customers’ expectations and our business objectives.
Our Annual Report and Financial Statements 2017 set out our financial results and our Value for Money Self-Assessment gives a view on what we have done to date and how far we have to go to be more efficient, effective and cost conscious.
The work we need to do on value for money is not complete and, as such, continues to be one of our key Business Plan projects for 2017–18. As we implement changes across Onward we are on the lookout for opportunities to improve services and do things in a better way. Some of this will save money but sometimes it will be about a better outcome for customers.
We would welcome feedback on our self-assessment and any other aspect of value for money for Onward.