Best in Class Finance Functions For Police Forces

Background

Police funding has risen by £4.8 billion and 77 per cent (39 per cent in real terms) since 1997. However the days where forces have enjoyed such levels of funding are over.

Chief Constables and senior management recognize that the annual cycle of looking for efficiencies year-on-year is not sustainable, and will not address the cash shortfall in years to come.
Facing slower funding growth and real cash deficits in their budgets, the Police Service must adopt innovative strategies which generate the productivity and efficiency gains needed to deliver high quality policing to the public.

The step-change in performance required to meet this challenge will only be achieved if the police service fully embraces effective resource management and makes efficient and productive use of its technology, partnerships and people.

The finance function has an essential role to play in addressing these challenges and supporting Forces’ objectives economically and efficiently.

Challenge

Police Forces tend to nurture a divisional and departmental culture rather than a corporate one, with individual procurement activities that do not exploit economies of scale. This is in part the result of over a decade of devolving functions from the center to the.divisions.

In order to reduce costs, improve efficiency and mitigate against the threat of “top down” mandatory, centrally-driven initiatives, Police Forces need to set up a corporate back office and induce behavioral change. This change must involve compliance with a corporate culture rather than a series of silos running through the organization.

Developing a Best in Class Finance Function

Traditionally finance functions within Police Forces have focused on transactional processing with only limited support for management information and business decision support. With a renewed focus on efficiencies, there is now a pressing need for finance departments to transform in order to add greater value to the force but with minimal costs.

1) Aligning to Force Strategy

As Police Forces need finance to function, it is imperative that finance and operations are closely aligned. This collaboration can be very powerful and help deliver significant improvements to a Force, but in order to achieve this model, there are many barriers to overcome. Finance Directors must look at whether their Force is ready for this collaboration, but more importantly, they must consider whether the Force itself can survive without it.

Finance requires a clear vision that centers around its role as a balanced business partner. However to achieve this vision a huge effort is required from the bottom up to understand the significant complexity in underlying systems and processes and to devise a way forward that can work for that particular organization.

The success of any change management program is dependent on its execution. Change is difficult and costly to execute correctly, and often, Police Forces lack the relevant experience to achieve such change. Although finance directors are required to hold appropriate professional qualifications (as opposed to being former police officers as was the case a few years ago) many have progressed within the Public Sector with limited opportunities for learning from and interaction with best in class methodologies. In addition cultural issues around self-preservation can present barriers to change.

Whilst it is relatively easy to get the message of finance transformation across, securing commitment to embark on bold change can be tough. Business cases often lack the quality required to drive through change and even where they are of exceptional quality senior police officers often lack the commercial awareness to trust them.

2) Supporting Force Decisions

Many Finance Directors are keen to develop their finance functions. The challenge they face is convincing the rest of the Force that the finance function can add value – by devoting more time and effort to financial analysis and providing senior management with the tools to understand the financial implications of major strategic decisions.

Maintaining Financial Controls and Managing Risk

Sarbanes Oxley, International Financial Reporting Standards (IFRS), Basel II and Individual Capital Assessments (ICA) have all put financial controls and reporting under the spotlight in the private sector. This in turn is increasing the spotlight on financial controls in the public sector.

A ‘Best in Class’ Police Force finance function will not just have the minimum controls to meet the regulatory requirements but will evaluate how the legislation and regulations that the finance function are required to comply with, can be leveraged to provide value to the organization. Providing strategic information that will enable the force to meet its objectives is a key task for a leading finance function.

3) Value to the Force

The drive for development over the last decade or so, has moved decision making to the Divisions and has led to an increase in costs in the finance function. Through utilizing a number of initiatives in a program of transformation, a Force can leverage up to 40% of savings on the cost of finance together with improving the responsiveness of finance teams and the quality of financial information. These initiatives include:

Centralization

By centralizing the finance function, a Police Force can create centers of excellence where industry best practice can be developed and shared. This will not only re-empower the department, creating greater independence and objectivity in assessing projects and performance, but also lead to more consistent management information and a higher degree of control. A Police Force can also develop a business partner group to act as strategic liaisons to departments and divisions. The business partners would, for example, advise on how the departmental and divisional commanders can meet the budget in future months instead of merely advising that the budget has been missed for the previous month.

With the mundane number crunching being performed in a shared service center, finance professionals will find they now have time to act as business partners to divisions and departments and focus on the strategic issues.

The cultural impact on the departments and divisional commanders should not be underestimated. Commanders will be concerned that:

o Their budgets will be centralized
o Workloads would increase
o There will be limited access to finance individuals
o There will not be on site support

However, if the centralized shared service center is designed appropriately none of the above should apply. In fact from centralization under a best practice model, leaders should accrue the following benefits:

o Strategic advice provided by business partners
o Increased flexibility
o Improved management information
o Faster transactions
o Reduced number of unresolved queries
o Greater clarity on service and cost of provision
o Forum for finance to be strategically aligned to the needs of the Force

A Force that moves from a de-centralized to a centralized system should try and ensure that the finance function does not lose touch with the Chief Constable and Divisional Commanders. Forces need to have a robust business case for finance transformation combined with a governance structure that spans operational, tactical and strategic requirements. There is a risk that potential benefits of implementing such a change may not be realized if the program is not carefully managed. Investment is needed to create a successful centralized finance function. Typically the future potential benefits of greater visibility and control, consistent processes, standardized management information, economies of scale, long-term cost savings and an empowered group of proud finance professionals, should outweigh those initial costs.

To reduce the commercial, operational and capability risks, the finance functions can be completely outsourced or partially outsourced to third parties. This will provide guaranteed cost benefits and may provide the opportunity to leverage relationships with vendors that provide best practice processes.

Process Efficiencies

Typically for Police Forces the focus on development has developed a silo based culture with disparate processes. As a result significant opportunities exist for standardization and simplification of processes which provide scalability, reduce manual effort and deliver business benefit. From simply rationalizing processes, a force can typically accrue a 40% reduction in the number of processes. An example of this is the use of electronic bank statements instead of using the manual bank statement for bank reconciliation and accounts receivable processes. This would save considerable effort that is involved in analyzing the data, moving the data onto different spreadsheet and inputting the data into the financial systems.

Organizations that possess a silo operating model tend to have significant inefficiencies and duplication in their processes, for example in HR and Payroll. This is largely due to the teams involved meeting their own goals but not aligning to the corporate objectives of an organization. Police Forces have a number of independent teams that are reliant on one another for data with finance in departments, divisions and headquarters sending and receiving information from each other as well as from the rest of the Force. The silo model leads to ineffective data being received by the teams that then have to carry out additional work to obtain the information required.

Whilst the argument for development has been well made in the context of moving decision making closer to operational service delivery, the added cost in terms of resources, duplication and misaligned processes has rarely featured in the debate. In the current financial climate these costs need to be recognized.

Culture

Within transactional processes, a leading finance function will set up targets for staff members on a daily basis. This target setting is an element of the metric based culture that leading finance functions develop. If the appropriate metrics of productivity and quality are applied and when these targets are challenging but not impossible, this is proven to result in improvements to productivity and quality.

A ‘Best in Class’ finance function in Police Forces will have a service focused culture, with the primary objectives of providing a high level of satisfaction for its customers (departments, divisions, employees & suppliers). A ‘Best in Class’ finance function will measure customer satisfaction on a timely basis through a metric based approach. This will be combined with a team wide focus on process improvement, with process owners, that will not necessarily be the team leads, owning force-wide improvement to each of the finance processes.

Organizational Improvements

Organizational structures within Police Forces are typically made up of supervisors leading teams of one to four team members. Through centralizing and consolidating the finance function, an opportunity exists to increase the span of control to best practice levels of 6 to 8 team members to one team lead / supervisor. By adjusting the organizational structure and increasing the span of control, Police Forces can accrue significant cashable benefit from a reduction in the number of team leads and team leads can accrue better management experience from managing larger teams.

Technology Enabled Improvements

There are a significant number of technology improvements that a Police Force could implement to help develop a ‘Best in Class’ finance function.

These include:

A) Scanning and workflow

Through adopting a scanning and workflow solution to replace manual processes, improved visibility, transparency and efficiencies can be reaped.

B) Call logging, tracking and workflow tool

Police Forces generally have a number of individuals responding to internal and supplier queries. These queries are neither logged nor tracked. The consequence of this is dual:

o Queries consume considerable effort within a particular finance team. There is a high risk of duplicated effort from the lack of logging of queries. For example, a query could be responded to for 30 minutes by person A in the finance team. Due to this query not being logged, if the individual that raised the query called up again and spoke to a different person then just for one additional question, this could take up to 20 minutes to ensure that the background was appropriately explained.

o Queries can have numerous interfaces with the business. An unresolved query can be responded against by up to four separate teams with considerable delay in providing a clear answer for the supplier.

The implementation of a call logging, tracking and workflow tool to document, measure and close internal and supplier queries combined with the set up of a central queries team, would significantly reduce the effort involved in responding to queries within the finance departments and divisions, as well as within the actual divisions and departments, and procurement.

C) Database solution

Throughout finance departments there are a significant number of spreadsheets utilized prior to input into the financial system. There is a tendency to transfer information manually from one spreadsheet to another to meet the needs of different teams.

Replacing the spreadsheets with a database solution would rationalize the number of inputs and lead to effort savings for the front line Police Officers as well as Police Staff.

D) Customize reports

In obtaining management information from the financial systems, police staff run a series of reports, import these into excel, use lookups to match the data and implement pivots to illustrate the data as required. There is significant manual effort that is involved in carrying out this work. Through customizing reports the outputs from the financial system can be set up to provide the data in the formats required through the click of a button. This would have the benefit of reduced effort and improved motivation for team members that previously carried out these mundane tasks.

In designing, procuring and implementing new technology enabling tools, a Police Force will face a number of challenges including investment approval; IT capacity; capability; and procurement.

These challenges can be mitigated through partnering with a third party service company with whom the investment can be shared, the skills can be provided and the procurement cycle can be minimized.

Conclusion

It is clear that cultural, process and technology change is required if police forces are to deliver both sustainable efficiencies and high quality services. In an environment where for the first time forces face real cash deficits and face having to reduce police officer and support staff numbers whilst maintaining current performance levels the current finance delivery models requires new thinking.

While there a number of barriers to be overcome in achieving a best in class finance function, it won’t be long before such a decision becomes mandatory. Those who are ahead of the curve will inevitably find themselves in a stronger position.

10 Facts About Office Business Centers

In today’s economy, office business centers (OBCs) represent a viable alternative to commercial space for established organizations, professionals and entrepreneurs. Here are 10 facts you should consider in evaluating their relevance for your business.1. OBCs help you to focus on your core competency.
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Our clients include international organizations and entrepreneurs, as well as professionals such as accountants, lawyers, doctors and financial consultants.4. OBCs provide flexible working arrangements.
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OBCs offer a multitude of meeting venues including conference rooms of varying sizes, seminar rooms and auditoriums. Videoconferencing enables virtual meetings, saving both time and money. OBCs are typically located in upscale buildings with attractive grounds and amenities.10. OBCs are particularly valuable when the economy is volatile.
Though a valuable resource at any time, OBCs are particularly in demand during economic recessions or uncertain business environments. The items mentioned above become even more urgent when you are unsure what tomorrow will bring.

4‌ ‌Digital‌ ‌Marketing‌ ‌Strategies‌ ‌for‌ ‌Small‌ ‌Businesses‌ ‌

Why Digital Marketing?
Nowadays lack of online presence can kill the business growth and hammered your business badly. With the increasing number of internet users and the number of online searches for services, online presence becomes the need of every business. But all businesses, especially small ones can not afford to hire an agency for online marketing services. So, here we will discuss 4 budget-friendly digital marketing strategies that can be implemented on your own.

Digital Marketing tips for small business
First, identify

What is the demographic base of your customer?
Which online platform uses search for products similar to your products?
What do your competitors offer to users?
What is your budget for online advertisement?
Answers of these questions help you to build and implement digital marketing strategies more effectively.

Digital Marketing Strategies for Small Businesses
Google My Business
Google My Business is one of the powerful digital marketing tools for small and local businesses. Ranking in Google My Business listing improves your business online visibility and sale. If you are running a business that targets the local people then Google My Business is the first tool of your list to make an impact on online searches.

For example, if user search for “digital marketing training institute in Mumbai”, Google shown result as,

Google My Business
Google My Business not only helps users with businesses related to the search query but also guides them with maps to reach at particular locations and provide contact information for the businesses.

GMB is the best way to gain online visibility and credibility for the business in a short period of time. If you are running a local business then It should be top in your list.

How to optimize GNB profile and rank your business
Fill up all details of your business.
Include Keywords in business title and description.
Update your business opening hours accurately.
Update your business location correctly.
Add photos as much as you can.
Manage and respond to customer reviews.
Let users contact or message you.
Add a local post regularly.
Add product catalogue for the users.
Remember, your business listing ranking will be improved when you get the good reviews and update the post regularly. Google My Business listing is absolutely free of cost service from Google.

Facebook Marketing
Facebook advertising is also a great option to reach more people and improve your business social presence. Facebook marketing can be done in two ways, either organically or paid advertising.

What is Organic posting:
Facebook organic posting means creating user interested content regularly and posting it on your Facebook business page in order to gain more followers and likes to your business page. Though organic posting takes more time to get the result, consistency and patience are important to get good and long term results for your business. You can also add offers on your business page inorder to get more visibility and user engagement.

Paid Advertisement:
Facebook paid marketing
Facebook paid advertising is widely used by many small and medium businesses to get the result instantly. With Paid advertising you can select which area and interest of people want to display your ad. Based on your ad objectives the cost will vary for advertisement. For lead generation campaigns cost be higher compared to the awareness and reach campaign.

Facebook paid advertising is marked as a “Sponsored” post when showing for the targeted audience. You need to create the Facebook ad account in order to start with Facebook paid advertisement.

Facebook paid advertising helps businesses to reach more users in a short time, with targeting to specific location, gender and age groups but it is bit costly service for local small businesses.

Google AdWords
There are thousands of search queries made on Google every second. No other advertising option has the potential to get the quick and good result for your business than the Google Adwords.

Google Adwords is like the Good father of all online marketing strategies. For a long time it’s competitive, it’s expensive yet to be an effective online marketing strategy. Adwords goal is to deliver the relevant search results for the queries and it will be less expensive when you set it up and optimize properly. Adding negative keywords and a detailed audience can help you to get a good click through rate.

The question is, how does it work?

Adwords display your ad for the query searched related to your product or keyword you mention. These results are shown at the top of search engines and at the bottom as well. When a user clicks on your ad then the amount will be debited from your ad spent whether the user goes with your service or not. That’s why right targeting and optimization of campaigns is important.

How to Set up a result driven AdWords campaign?
Map your campaign strategy.
Targeting the right keywords.
Targeting the right audience.
Check competition of keywords.
Competitors analysis to build result driven ad copy.
Optimize your campaign for the best time of search.
Search Engine Optimization
Search engine optimization is a long process and it takes time but once you rank for the particular keywords then the result will be given for a long time. Search engine optimization is not instant result and it needs knowledge of search engine and Google algorithms, how it works? That’s the reason businesses go with consultants to search engine optimization strategy.

SEO
SEO means ranking for the search query on top of the search engine results. When users search for any queries, they hardly check the first page of the search result. So it is important to rank on at least the first page for the relevant queries. Ranking is dependent on the search volume and competition of keywords. Large search volume and high competition keywords are difficult to rank and it takes more time.

Takeaway
These are the commonly used digital marketing strategies to improve the online visibility of the business. Based on your business type, the user can go with the strategy which is best for his business and give them a good result. For small and local businesses Google My Business and Organic posting on social media is the best strategy to go with.