February 6, 2012 from BusinessFinance– “Finance, like other key corporate functions, is under pressure to reduce operational costs while increasing the business value it generates for the larger enterprise. To do so, executives need reliable information that can help them understand whether they are accomplishing their objectives and how their performance stacks up against their peers. Such information can be acquired with benchmarking.
What’s surprising is that fewer than a third of finance organizations, according to Accenture’s own data, use benchmarking. That may be why, as reported in the Accenture report, “The Changing Role of the Finance Organization in a Multi-Polar World,” that only 29 percent of 350 survey respondents said they have a good understanding of where their organization stands in relation to finance functions in comparable enterprises…”
180 View – We agree with the importance of benchmarking but it’s not easy. It’s not easy to figure out which metrics, or to gather the data or find external benchmark data for comparison purposes. We have developed a benchmark tool at http://www.180benchmarks.com/ that will help. Check it out and let us know what you think.0 Comments