Benchmarking & Analytics Service
LPP's service of benchmarking and analysing spend data identified £8.3m of savings opportunities in its first year of operation. In addition, members have access to (and training on the use of) the PredictX analysis tool for their own internal use.
Benefits of the contract
- By providing the PredictX tool to members, LPP is acknowledging that trusts have limited resources available for investment in analytical software and benchmarking.
- Local staff resource is also at a premium and so LPP formed an in-house analytical team that adds real value to the information fed back to members.
- Through the addition of context, industry insight and review of local, national and LPP contracts and frameworks, the analysis team provides clear opportunity assessments and work packages that are tailored to each member's specific requirements.
Access to the full spend picture of our membership also enables LPP to have overview of all opportunities that exist for members, to decide where best to focus our resources, and to track the benefits of our service.
LPP is a centre of excellence and needs to be leading the way in the use of information to drive and deliver value and results. By pooling resources and expertise into a central organisation, the membership is able to focus on its core business and deliver value at the local level. This is one of the largest benchmarking 'clubs' in the country.