How Innovate MAT Are Using Their Personalised Benchmarking Report

Innovate Multi Academy Trust (iMAT) is made up of six primary academies in rural locations outside of Daventry, Northamptonshire. Its mission is to establish great primary academies that are centres for innovation and excellence for leadership and teaching, where pupils are safe and engaged in their learning. A long-standing IMP Planner customer, iMAT CFOO Lucy Flavell received her Trust’s IMP MAT Finance Benchmarking Report in September 2025. Here we speak to Lucy about her experiences.

What encouraged you to sign up for the Personalised Benchmarking Report earlier this academic year?

“I love benchmarking. I used to do lots of it years ago, but it fell off the radar as I don’t have enough time to do it. The Personalised Benchmarking Report offers a minimum input, maximum impact approach, which really appealed in an increasingly busy role, and this was a big tick for me. The process was straightforward – just five minutes to complete – and easy to understand, using a tool we were already familiar with, so it wasn’t a case of reinventing the wheel or creating extra work. The fact that this was free to do was also a no-brainer.”

What have you done with your report to date, and what has been particularly useful?

“I read the Personalised Benchmarking Report straight away and found it really interesting. It was comforting at a time when finances feel particularly pressured, and we’re having difficult daily conversations. It helped confirm that the financial challenges we are facing are not unique to our Trust. The benchmarking around reserves was especially helpful. While operating on a knife-edge is never ideal, it was reassuring to see that our reserve levels are OK, that other Trusts are in a similar place, and that our pay costs are in the best place they can be. This gave us confidence that we’re not doing anything wrong.”

Have you shared the report with iMAT colleagues, and how has this been received?

“I shared the report straight away with our CEO and also sat down with our school business manager to review it together. It was a positive tool to reassure and motivate, reinforcing that we are in a good place and should continue doing what we are doing. I also shared the report with our directors and the finance and audit committee. The clarity of the report made it easy for non-education professionals to understand, and it provided assurance at every level that the Trust is in as strong a financial position as possible given the circumstances. Although the report highlighted only minimal areas for potential improvement, it did prompt us to also consider a small number of points to hone in on.”

In terms of the peer groups – and your ability to see how your Trust compares to others of a similar size and context – what is the benefit?

“It is really, really powerful to look at peer groups in this way, as it allows the iMAT to benchmark itself in a meaningful and relevant way. By comparing with similar primaries facing comparable challenges, rather than much larger Trusts with different structures, the Trust can see that its approach, strategies, and resource management are appropriate and effective. It helps to highlight that whilst certain challenges, such as financial pressures associated with small primary schools, are inherent to the Trust’s situation, we are not alone. It also made me realise that we do run a tight ship financially, and in my busy world, I haven’t missed a trick somewhere that would make a world of difference. My CEO and Trustees took great comfort from that. It was like somebody marking our homework.”

With the School Benchmarking Toolkit also available, what value has this brought?

“It provides objective, data-driven insights that support schools in evaluating their performance. For example, it allows schools to confirm or challenge assumptions – such as the impact of pupil premium funding – by showing concrete evidence of key drivers and outcomes. This removes guesswork and counters anecdotal reasoning, giving schools clear facts about their context and performance.”

Would you recommend the Personalised Benchmarking Report and School Benchmarking Toolkit to other Trusts?

“Absolutely – it’s a 10 out of 10. I love the fact that I could tie everything back to my own data and have confidence in that. I love having full ownership of my data – I can trust the figures in the report, reconcile them myself, and stand confidently in front of people knowing exactly where they come from.”

As an additional resource for Trusts, what does this say about IMP Software?

“That IMP are ahead of the game, that they have their finger on the pulse, and they get it. They understand the challenges we’ve got, they’re hearing those, and they’re both sympathetic and empathetic. Crucially, they don’t just listen; they do something about it. I honestly can’t fault them, and I wish I received this level of service from all the systems we use. I feel truly listened to, and that matters. The communication is great, and the way they provide resources – videos, sessions you can join, flexible ways to engage – fits around my busy life. I can dip in when it suits me, whether that is on a Friday or at the weekend. Even as a smaller MAT customer, I still feel as important as anyone and that goes a long way.”

Finally, what are your top tips for other MAT leaders around making the most of IMP’s Personalised Benchmarking Report?

“I have five easy tips, based on my experience:

• Just do it. Don’t overthink it or put it off. The report is genuinely useful, and the value only comes if you engage with it.

• Read it properly. It’s concise, well-presented, and easy to digest – even if reading isn’t your favourite thing. Take the time to absorb what it’s telling you rather than skimming.

• Share it widely. The real impact comes from discussing it with others. Share it with relevant colleagues and leaders so it can inform collective understanding and decision-making.

• Be open about the uncomfortable bits. Don’t shy away from findings you don’t like. As a CFO or MAT leader, holding yourself and the organisation to account is part of the role. Avoiding difficult messages limits improvement.

• Use it as a catalyst for change. If the report flags something challenging – like costs being higher than expected – treat it as a prompt to reflect, ask questions, and think differently about how things are done.”

Discover how the IMP MAT Finance Personalised Benchmarking Report can support your Trust