The process for obtaining a measure – a benchmark: Simply stated, benchmarks are the “what,” and benchmarking is the “how,” of the process. Benchmarking without the right tools is not a simple process. Before undertaking a benchmarking opportunity, it is important to have a thorough understanding of the company’s guidelines around data and communications. You […]
Research clearly shows successful businesses aren’t afraid to compare themselves to their competitors and ask the hard questions. Businesses that do not make competitive comparison, furthermore, tend to be over optimistic about their relative position, preventing them from making realistic and fruitful changes. Hard data provided by benchmarking.com.au takes the guess work out of assessing […]
Benchmarking is an essential resource if you are thinking about buying a business. The best starting point is to obtain a copy of the Australian Benchmark Report for the industry or sector your looking at buying into. It can help you to measure the past performance of a business to see how it performed against […]
Looking at this list below, you will quickly draw an understanding of the benefits of benchmarking and if your company or organization should in fact start a benchmarking process or project. On top are the top 5 benefits a client provided back to us after recently completing a benchmarking project. Below the top 5 characteristics […]
Our pharmacy records yield some interesting results from the following odds ratio analysis: High performing pharmacies, i.e. the top quartile based on Net Profit per Principal before owners salary as a percentage of total income, are 2.21 times more likely than low performing pharmacies to have a high over the counter sales / dispensary area […]
The Benchmarking team has over the years seen a consistent pattern observed in contractor industries. They have found that, as turnover increases, net profit margin tends to decrease. An even more interesting fact is that the net profit dollar per working owner increases, rather than decreasing with profit margins. They explain this in terms of […]
As part of Benchmarking.com.au’s ongoing In-Focus series, the Optometry Industry is the next to go under the microscope. We have received a growing number of enquiries for Optometry benchmarks as a number of large buyer groups have entered the market, placing a squeeze on smaller competitors. Whilst buying power may be an issue within the […]
As at June 2014 Benchmarking.com.au is integrating with Xero for an easy data import. This facilitates a much faster data entry for companies benchmarking their performance against industry peers. Similar to the Excel / CSV import, the Xero import loads the data and then let’s you drag and drop your accounts into the benchmarking account […]