Industry benchmarking is comparing one’s business processes and performance metrics to industry best practices from other companies. Metrics typically measured are quality, time and cost. In this process of best practice benchmarking, we help you identify the best firms in your industry, or in another industry with similar processes. Afterward, the results and processes of the targeted companies are compared to your results and processes. This helps you know how the targeted companies perform and more importantly, their business processes which help them succeed.
Our services in Industry benchmarking strategies and analysis process is in use of businesses who are looking to compare their performance with the leader in the industry along with other competitors. By doing this they will get valuable insights on how different segments of the business are performing as compared to their competitors and industry leaders.
Financial & Non-Financial Metrics:
It proves to be beneficial for both financial and non-financial metrics. The financial metrics are more frequently in use as the financial information of the competitors is more easily available than the non-financial information. In most cases, the competitors are hesitant to share their operational information for benchmarking purposes. The reason for this is that competitors believe that their non-financial information is sensitive. It is sensitive because if given to the competitors they may figure out their competitive advantage. This may eventually result in lost competitive advantage.
Industry benchmarking by Escrow Consulting Group uses state of the art software to offer industry benchmarking results to its valuable clients. We are giving our Industry benchmarking service to all sectors. We have good experience working with North American businesses, especially in the USA. Because of this, we can offer you our service efficiently.
You can benefit from this service as well to see how your business is performing in comparison to your competitors. By getting these valuable financial insights, you can set targets for your business. As a result of this, you can manage your business better.