Nottingham City Council shows potential to achieve £5.7 million efficiency saving with a 6:1 RoI
Organisations of all kinds demand evidence before they can justify strategic investment. This new case study – ‘Return on Investment Analysis: Assessing the socio-economic value of address and street data to Nottingham City Council‘– should be of huge interest to all local authority decision-makers.
The findings show that for every £1 invested in the use of accurate and integrated addressing, there lies the potential to make efficiency savings and increase revenue organisation-wide by up to £6. The report predicts that the benefits could generate a NPV of £5.7 million over the period 2023 to 2026.
Using data to return hard efficiencies: Nottingham City Council is seeing impressive returns from its investment in geocoded address and street data, and the use of that data across the organisation. Results of an in-depth study show the council generated an estimated Return on Investment (ROI) of over 4:1 between 2018 and 2022. That indicates a Net Present Value (NPV) of an estimated £4.1 million – the difference between the present value of cash inflows and the present value of cash outflows.
Over the whole study period from 2018 - 2026 the total net benefits after applying the Treasury Discount Rate are predicted to be just over £9.8 million representing an overall RoI of just over 6:1, but equally significant are insights supporting decision making in key council strategic initiatives including climate change adaptation.
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