How is my business performing compared to my competitors?

Benchmarking your business against those of your competitors is an enlightening exercise. It is an invaluable way to understand where your business is performing well, and where it can be improved.

benchmarkThe benefits cannot be over-emphasised, they are extraordinary and include:

  • Identifying and prioritising specific areas of opportunity
  • Understanding your customer needs better
  • Identifying your strengths and weaknesses
  • Set goals and performance expectations
  • Monitor your performance and effectively manage change
  • Understand your competitors to become more competitive

Our Benchmarking package includes:

  • Review of your current financial information in preparation
  • Obtaining data for similar companies from our external benchmarking data provider (data comes from 100s of businesses of all shapes and sizes across each industry)
  • Comparing your information to the comparison data
  • A report with executive summary and detailed notes
  • A 1 hour meeting with your choice of our senior advisors to discuss the above and key strategies you may wish to implement to improve your business

The Benchmarking Report contains:

  • ABS data about the industry
  • Current industry trends
  • Key Performance Indicators
  • Personnel Productivity with traffic light indicators for your business
  • Comparison to ATO benchmarks - the data the ATO use to select audits
  • Financial Ratios
  • Action list
  • Comparison of your business financials to your competitors

Further meetings and reviews are recommended at scheduled intervals thereafter, to harness the full opportunity to use this information to realise true growth and improvement in your business.