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Benchmarking Report

Benchmarking with the Business Benchmark Report

Our innovative online benchmarking software has been created to produce insightful and individualised Business Benchmark Reports. With our Benchmarking Suite accountants and business advisors can generate unlimited benchmarking reports for clients.

Every report is tailored for each business and industry; meaning business owners receive high-value, relevant information to drive business improvements.

Business Benchmark Report Graphic

Features of the Report

Every report produced includes the following areas:

Industry Analysis

Benchmark Comparison

Key Performance Indicators Feedback

ATO Benchmarks

Business Value

Strategies for Growth Opportunities

INDUSTRY ANALYSIS

Learn about the associated industry including growth forecasts and the economic drivers behind it, employment trends and forecasts, wage comparisons against other Australians, average business sizes and, factors influencing the industry’s performance.

BENCHMARK COMPARISON

To assess how a business performs operationally against industry peers. This includes analysing productivity, asset usage, employee performance, stock turn rates and investment decisions.

KEY PERFORMANCE INDICATORS FEEDBACK

Review the complete analysis utilising the KPI Feedback and Recommendations. This section is designed to improve business performance by addressing core performance metrics such as profitability, productivity, capacity growth opportunity, asset usage, employee performance and unnecessary costs. Business owners receive a KPI score against key measurements relevant to each industry. Our report further highlights what the score means and what owners can do to improve their score year on year. Business owners can therefore use this tool as a baseline for annual business improvement. Find out more about our ratios here.

ATO BENCHMARKS

Undertake a complete 360-degree review by seeing how a business performs against the ATO Small Business Benchmarks. Businesses that score outside of the ATO Benchmarks are more likely to receive a tax audit. Read more about ATO Benchmarks here.

BUSINESS VALUE

Get a clear idea of much a business would be valued on today’s market. Our analysts use the Fair Market Value approach which gives business owners a real business value figure. Business owners can use this figure as a starting point to develop more in-depth analysis with their accounts and advisors to assess the true financial position of the business.

STRATEGIES FOR GROWTH OPPORTUNITIES

Drive business improvements utilising our tailored growth strategies. Each strategy is built based on industry wide growth opportunities and forecasts. Strategies are tailored for each business and include the following high-level themes:

► Implementing new technologies to drive business automation

► Increasing brand awareness to create more business opportunities

► Building customer relationships to increase customer satisfaction and ensure strong reviews and referral

► Increasing gross margins via streamlining of business administration

► Leveraging compliance requirements to promote the business skills

► Upskilling crucial management and employees to retain employees

► Exploring economies of scale options to reduce costs

► Undertaking market research to develop niche positioning in the market

► Developing minimum standards for desired premises upkeep

► Analysing premium product opportunities to increase competitive advantage

► Leveraging trends to reduce costs and increase market demand

► Utilising market proximity to drive increased traffic to business premises

► Implementing relationship management systems to leverage B2B relationships

► Investing in high value specialist equipment to drive new products and services offerings

► Researching market needs to develop value added offerings

► Conducting a competitor analysis to establish current market position to ensure correct price points

► Building project management systems to effectively implement projects

► Ensuring multi-sales channel opportunities for customers to purchase

Each theme also offers a range of actions for business owns and human resource managers to consider implementing. All strategies are created to support small businesses improve performance and achieve sustainable growth.

How to Compare Your Business

So how does it all work?

Our benchmarking methodology involves taking a wide range of high-quality data to ensure business owners are given accurate and relevant benchmarking information. Our data primarily comes from our using of clients across Australia, enabling benchmarking.com.au to hold the most accurate database of businesses in Australia. We further utilise the ATO benchmarks and the Australian of Bureau of Statistics (ABS) reports to generate a complete picture of every industry.

When new business information is entered into our system, we quality check the inputted benchmark data to ensure it meets our standards. This means that our customers can be confident that our data is second to none in accuracy, quality and relevance.

Find out how you can use our reports to support business growth.

BENCHMARKING FOR ACCOUNTANTS

The Benchmarking Suite has been designed specifically for accountants and business advisors. With the Benchmarking Suite, you can create unlimited Business Benchmark Reports for your clients, giving your accounting firm a competitive edge.

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BENCHMARKING FOR BUSINESS ADVISORS

The Benchmarking Suite is a specific platform, designed for accountants and business advisors. With the Benchmarking Suite, business advisors can create unlimited Business Benchmark Reports for clients, adding a new offering, and revenue stream, to your advisory services

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BENCHMARKING FOR BUSINESS OWNERS

Ever wondered how your business compares to your competitors? The Australian Business Benchmark Report has been designed to give business owners understanding and insight into what is driving success in your industry, and how well your business is performing.

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BENCHMARKING FOR LEGAL FIRMS

The Australian Legal Industry is highly competitive. So how do you know if your law firm is performing better than your competitors? Working with FMRC, benchmarking.com.au has developed the Legal Business Monitor: a tool designed to take the guesswork out of assessing your law firm’s performance.

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BENCHMARKING FOR SPECIAL PROJECTS

Our benchmarking software is not only used for business comparisons, we also work industry groups, franchises and governments to create customised benchmarking projects. All our projects are created to enable large and/or diverse organisations to both undertake collection of high-quality data and easily analyse results.

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