How does Benchmarking Work?
The Process The benchmarking process has been designed for maximum simplicity and time-efficiency, with a commitment to generating organisational improvement and an efficient data collection mechanism. A number of benchmarking organisations and initiatives exist. Of these, the Benchmark Index is one of the most comprehensive. Using a computer-based system, it provides the objective results and expert human support that enable companies to implement new and effective business strategies. There are over 100 questions measuring business performance in areas covering not just financial results, but perhaps more importantly the drivers that have led to those results. There are four basic steps to the benchmark process: Step 1 – Gathering Information – The first step is filling in the questionnaire(s), by answering a series of quantitative and qualitative questions on your company. The process is facilitated by an experienced business advisor, who is on hand to help you with any questions. S
