Knowing where you stand in comparison with competitors and customer's perceptions can be critical to survival particularly when your business has been specifically targeted. It is often thought that benchmarking only involves competitive comparisons but this is wrong. Most of the time, the processes which are most vulnerable are non industry specific, for example accounts payable and receivable, staff turnover, delivery performance, product support etc.
DHI can help you develop and implement benchmarking strategies that feed directly into your key performance indicators and thence to the project by project process.
Example:
Business Process - Financial Budgeting and Analysis
Possible KPI's:
Financial budgeting and analysis
Total financial budgeting and analysis department cost as a percentage of revenue
Annual number of financial budgets developed
Type of budgeting
Financial budgeting structure
Cycle time to prepare budgets
Variance of budget to actual as a percentage of the budget
o DHI will provide you with the templates and toolkits to conduct these benchmarking studies.
o Working with the client to establish why, what, who, when, where and how to Benchmark competitors and best-in-class processes and performers
What may be currently widely accepted as 'Best practices' are not necessarily the definitive answer to business problems but they are worth knowing for they may be a source of creative insight for business improvement. Adapting best practices to your specific needs can dramatically affect performance -- leading to breakthroughs that save time, improve quality, lower costs, improve customer retention and increase |