New Features for the Benchmark Suite!
Tim explains the new and improved benchmark suite reporting feedback section for SMEs in Australia. Are you an Accountant or Business Advisor? Fill out the below form for a FREE TRIAL of the Benchmark Suite.
ATO Small Business Benchmarks Explained
The Australian Tax Office (ATO) provides a high-level benchmark tool for business owners to compare their company’s performance to a wider range of similar businesses. There are essentially three purposes behind the ATO Small Business Benchmark Tool. These are: encourage business owners to perform annual health checks to see if their costs are above or […]
Increasing Franchisor Transparency and Accountability in Australia
Franchises are often considered, and sold as, a win-win business-model by both franchisors and franchisees. However, the recent Fairness in Franchising Report by the Federal Parliamentary Joint Committee on Corporations and Financial Services, released in March 2019, highlighted that franchisors are currently winning at the expense of their own franchisees. The scathing report has recommended […]
What is ‘Employee Wages as a Percentage of Total Income’?
What is ‘Employee Wages as a Percentage of Total Income’? Home Author: Markus Reviewing employee wages is a crucial activity for any business owner. When monitoring and evaluating employee wages, the owner’s wage should be excluded. Employee wages also excludes all superannuation and bonuses. Total income refers to the total revenue (being sales and other [...]
Financial Benchmarking Against Your Competitors
As a business owner, competition can be intimidating. However, it can also drive us to achieve impressive results. The important factor is knowing how to beat the competition. With this sentiment in mind, for business owners and advisors, gathering intelligence on a business’s competitors in a systematic and rigorous format is critical to success. […]
Revenue Per Employee Benchmark Calculation
How it’s calculated Revenue Per Employee is calculated as: Revenue Per Employee = Total Revenue / Total Full Time Equivalent Employee See here for explanation of Full Time Equivalent Benchmark Calculation How it’s used Revenue per employee is an important financial benchmark because it aids in determining the relative average financial [...]
How to calculate FTE (Full Time Equivalent)
CALCULATE FTEs NOW - Jump to our FTE Calculator What's an 'FTE'? Full-Time Equivalent (FTE) is the measurement of how many full-time and part-time employees a company has. It is NOT headcount. Some people in your business may have only worked for part of the year, or are on part-time/casual arrangements. In these cases, the [...]
The Meaning of a Benchmark
A benchmark is often considered as the optimum performance to be strived for, or, the average performance which is either outperformed or fallen short of. The meaning of a benchmark, in a nutshell, is a reference point or a standard which something can be measured against. In the context of business, there are many benchmarks, […]