Generating valuable insights into your competitors and potential future disruptors to support transparent, objective, and value-accretive decisions to grow your market share.
Benchmarking is a valuable exercise for businesses striving to improve their operational efficiency and effectiveness across the enterprise. Benchmarking can be applied against any process, approach, function, or product in the business. Specific performance indicators can be compared with other internal business units or externally with corporate entities in the same industry or in the broader marketplace. Bâton Global (B|G) has experience charting performance improvement across industries. We work with our clients to provide access to hard-to-find process or performance benchmarks, uncover functional best practices, and identify organization gaps. Unlocking these insights allows clients to discover new opportunities, improve operations, boost performance, and achieve real business goals.
Benchmarking is especially critical when addressing broader organizational challenges such as:
Understand how your business performs compared to competitors.
Identify areas for growth and pragmatic starting points for change initiatives.
Discover and adapt best practices of successful organizations.
Overcome complacency by tracking progress towards company goals and objectives.
The typical benchmarking process consists of four steps as outlined below:
We first seek to understand the purpose of the benchmarking initiative within the strategic framework context of the client. This allows us to devise a plan that includes a definition of the scope of the initiative, desired metrics to evaluate, and relevant companies or internal areas to benchmark.
Information is gathered through primary and secondary sources and consolidated by our consultants. Data and sources are verified by cross-checking multiple references, ensuring accuracy.
Next, peer data are analyzed against client internal data. Cost and performance gaps are identified and the root issues causing them are unearthed.
Recommendations are developed, highlighting opportunities for efficiency and effectiveness.
Benchmarking has helped our clients:
Their enthusiasm is genuine and positive. Our industry is a little odd and they didn’t shy away from it. We wanted perspective and that’s what they provided us.