Mill Asset Management Group (MAMG), a public private partnership (PPP) Asset and special purpose vehicle (SPV) management company, responsible for managing over 40 PPP projects in the UK, has opted for Intuitive Dashboards to improve the delivery of its management information.
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Mark McDerment (pictured), group finance director at MAMG, said the organisation provides financial information to a range of director-level clients, both finance and non-finance, in public bodies, banks and other investment houses.
MAMG provides asset and SPV management and other advisory services to more than 50 projects in the UK, including 98 schools, 24 health and social care facilities and 12 police and justice facilities. The combined capital value of assets under management is more than £2.5bn. Stoke Mandeville hospital and two schools in the London Borough of Newham are among its projects.
“Some of these projects are 25 to 30 years long with changing top-level metrics, and the clients all want different things,” he said. “We have an awful lot of people to report to, and need to do so instantaneously”.
Until February of this year, his team of management accountants had been doing manual labour on Excel spreadsheets to provide reporting information.
The dashboard extracts financial information from MAMG’s existing OpenAccounts financial management system from Advanced Business Solutions.
MAMG’s own executive board and senior management team can now visualise the company’s financial performance, confirmed a press statement from Intuitive, “enabling them to easily identify potential issues and spot trends in key areas including revenue, profitability and overheads”.
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50% of the projects are now covered with dashboard-led reporting.
“We’ve gone from 50 sheets of paper presented at board level to five or six,” McDerment said.
He anticipates that all projects will be dashboard-led by the start of 2014. And one of the group’s major investment funds, requiring a different type of reporting than individual projects, will be covered next. The group has two major funds, and has set up a third. McDerment confirmed they are looking to deploy Intuitive in a joint asset and SPV management venture with Infralink in Australia, InStruct.
“Our reputation rests on the output we deliver to our clients”. They don’t care so much about all the hard work behind the scenes, he said.
“The goal was to deliver a visually-rich, at-a-glance perspective of our real-time financial performance,” he said.
“It is a fast-to-implement, effective dashboard that provides a real-time view of financial KPIs.”