Benchmarking is one of your best tools for determining whether your company is performing particular functions and activities efficiently, whether it's costs are in line with those of similar industries, and whether it's internal activities and business processes need improvement.
In our experience companies that set targets from benchmarks do much better than those who don't simply because it keeps the business focused.
Examining your business against the industry average helps you identify opportunities for improvement and also gauges your business performance overall.
We have access to up-to-date business benchmarking data from 405 industry categories involving over 3,000 New Zealand small to medium size enterprises.
The data provides financial ratios covering income, profitability, and overhead structure, ratios per person, liquidity, and capital structure for a range of NZ industries.
Reports typically aggregate results for all businesses within each classification, showing the range of results in different percentiles, and the average result for the best three performers based on Net Profit per Working Owner.
A second level of reports provide additional breakdowns of total income, net profit per working owner, and location.
This data becomes a starting point to help you set your own targets and can be very helpful to clarify what you would like to do.
Wouldn't you like to gain or perhaps maintain a competitive edge?
Would you like to know how much revenue you could earn by setting simple targets from this benchmarking data? We can show you what is possible, give us a call today to find out more.