Benchmarking Strategies

Enterprises operate in an environment where learning from peers, partners and competitors can be cornerstone for success using tools such as benchmarking. Benchmarking involves the process of comparing one's business processes and performance metrics to industry bests or best practices from other companies.

Benchmarking in Action


1.  Identify what is to be benchmarked
2.  Identify comparative companies
3.  Determine data collection method and collect data


4.  Determine current performance ‘gap’
5.  Project future performance levels


6.  Communicate benchmark findings and gain acceptance
7.  Establish functional goals


8.  Develop action plans
9.  Implement specific action and monitor progress
10.  Recalibrate benchmarks


11.  Leadership Position Attained
12.  Best Practices Fully Integrated into Process