BenchmarkingEver wondered how your organization stacks up against others in your sector? We created a benchmark tool which was discussed in our artilce on benchmarking in the December 2010 ediition of CAmagazine.
Benchmarking is a way of comparing your organization’s performance with that of other organizations to expose possible problems and targets for improvement. It allows you to study the best practices of the best firms and use them as a standard to meet or even surpass.
Today, with so many outsourcing firms claiming they can handle most functions cheaper, faster and better, more financial leaders are asking for benchmarking data to measure the overall effectiveness of their current organizations. Combining high quality with low cost has become an imperative for internal departments. Hence the usefulness of collecting data that can be used as supportable and tangible evidence in presenting a compelling business case.