Ever wondered how your business compares with other businesses in your industry? Do you know how well your business is performing against similar sized competitors or against competitors in other regional areas?
Research shows that 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.
Companies who take benchmarking seriously are found to have better business performance, including:
- higher levels of customer satisfaction;
- increasing market share;
- positive cash flow;
- better return on assets;
- lower product costs; and
- higher productivity growth.
Your Twomeys accountant now has access to benchmarking data for over 120 industries, and can help you identify key areas to improve your business' performance. We will work with you to develop strategies and processes that will enable your business to perform to its potential.