Benchmarking

Benchmarking is a method of discovering how your competitors are performing and how your business ranks in comparison.

This information can then be used to identify gaps or improve your business or organisation’s processes. Using the information gained by the benchmarking process can help you to better understand your industry, improve profitability and business performance - and ultimately gain a competitive advantage.

Is this for me?

You can undertake benchmarking at any point in your business journey. It ensures your business is competitive and - importantly - can help to establish a culture of continuous improvement.

What’s involved:

We start off with a thorough discussion to understand your business, its industry and competitors.

We’ll identify what metrics you should use to benchmark your business against your competitors, and develop an action plan with strategies to improve your business’ profitability and competitiveness.

Together we’ll decide the next date to check the metrics, and provide follow up to ensure the tasks and actions are on track.

Benefits of Benchmarking:

• Gain an independent perspective about how well you perform compared to other entities.

• Drill down into performance gaps to identify areas of your business for improvement

• Develop a set of metrics to monitor the performance of your business compared to competitors

• Enable a mindset and culture of continuous improvement

• Propell your business to the top of your industry