benchmarking
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According to a recent survey published by the Global Benchmarking Network, “Those that
are using (benchmarking) to its full capacity are achieving significant financial and non-financial results”.
The same survey revealed that “improved performance of processes”, “major strategic issues addressed” and
“improved financial performance” topped the list of benefits benchmarking delivered.
These are challenging times for all businesses and the need to manage costs and improve
performance has never been greater so maybe now is the time to consider benchmarking?
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What is benchmarking?
Benchmarking has been defined as 'the search for industry best practices which lead to superior performance'.
Benchmarking is an established tool to improve business performance with origins going back almost 40 years.
It is used to compare performance between different organisations or business units within organisations:
- informally to address a specific challenge
- to improve performance in a particular domain
- to identify best practice elsewhere
The insights generated may then be used to set new goals & targets to improve performance, and processes.
Benchmarking can be an ad-hoc project focused on a specific issue and with specific goals or, more productively,
an ongoing activity with selected partners within or outside the industry and coordinated by an appropriate industry body.
Why Max for benchmarking?
- With the internet now widely available even small companies can create and participate in benchmarks to help
improve business performance in challenging times
- Max.net has streamlined the collection and reporting of benchmark data via the web,
regardless of the industry or performance domain of interest
- Max Benchmarking solutions help your company or association to gather and compare
performance data openly or in private, respecting competition and privacy needs
- Max.net can help you set up your online benchmark, create KPI's and give your company or
membership organisation all the tools necessary for an online benchmarking service
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