In 2014, Barclays was awarded the financial services contract by Bury Council as a part of an Association of Greater Manchester Authorities (AGMA) financial services framework.
This pilot study aimed to assess how the Social Value Portal could be used to set targets retrospectively and then to measure the ongoing delivery of social value. This involves looking beyond the price of each individual public-private contract to its collective community benefit.
Key headlines from this study:
- The project unlocked an additional +80% SV for Bury at no additional cost
- The process required Barclays to make a specific and quantifiable commitment and encouraged them to consider how else they could help Bury.
- The Portal was simple to use and helped to unlock real additional benefits.
More importantly, the project showed that it is possible to agree SV deliverables retrospectively if there is mutual benefit in doing so to both the parties.