Promoting efficiency

Our activity

We have developed a number of approaches that support efficiency in the sector, and we have invested in pilot projects to encourage the adoption of good practice. 

 Our main areas of activity include:

• Benchmarking
  Tools and research to identify efficiencies and control costs.

• Procurement
  Funded activity to promote expertise in procurement across full range of goods and services.

• Shared services
  Support for collaborative and co-operative activity in the sector that supports financial savings and improvements in performance.

• Financial sustainability and TRAC (TRAC)
  TRAC is the methodology used by higher education institutions in the UK for costing their activities.

• University Modernisation Fund
  The University Modernisation Fund is a £152 million initiative designed to support a sustained increase in student places at universities and colleges in a period of economic recovery by adopting greater savings and efficiencies.

• Efficiency Exchange
  We are supporting the work of the Efficiency Exchange as a means of sharing innovative ways to deliver greater efficiency that will enable high quality teaching, learning and research.

• Innovation and Transformation Fund
  The Innovation and Transformation Fund is a joint initiative by HEFCE and the Leadership Foundation for Higher Education to prepare universities and colleges for a period of change and transformation.