Socitm turns finances around after 2007 crisis

Socitm has reported a turnaround in its finances after starting 2008 unsure if it would survive the year.

The organisation had been losing six-figure...

Socitm has reported a turnaround in its finances after starting 2008 unsure if it would survive the year.

The organisation had been losing six-figure sums for the past four years, leaving reserves badly depleted. After an organisational overhaul, Socitm made a small surplus last year, according to its Position Statement.

A 2007 KPMG report found that business processes were not defined, governance was "unwieldy", leadership was unfocused, and strategic direction was uncertain.

The first main change was the revision of Socitm Consulting's "badly flawed" 2006 contract, which had led to a large drop in income from consulting.

The second big change was removing the 30-strong National Council which led the organisation until April 2008, and replacing it with a board of 12 directors. The bi-monthly meetings of the Council were, the society said, "packed and chaotic, and its decision-making ponderous".

Socitm has also revamped its membership model, offering membership to bigger swathes of the public sector IT profession. It has increased transparency by communicating more about its decision-making through the president's blog and a monthly progress report.

In 2009, Socitm wants to further improve interaction with members, and is seeking their views on its transformation over the past year.

The society said, "Socitm is on a journey to transform itself from a niche club managed by members into a professionally run and managed organisation."

Read more on IT outsourcing

Start the conversation

Send me notifications when other members comment.

Please create a username to comment.

-ADS BY GOOGLE

SearchCIO

SearchSecurity

SearchNetworking

SearchDataCenter

SearchDataManagement

Close