News Articles

Benchmarking


By Rick Albertini, Partner

22 January 2022

Animation of a red question mark on its side with a white cartoon figure of a person thinking with their hand to their mouth in a thinking pose.

Benchmarking is an important tool for any business, be that against other similar businesses, or your past or forecast performance.


Snapshot for Business Improvement

To aid discussions, we work with you and delve into questions, such as:


Infrastructure

  • Are your premises really suitable?
  • Are you utilising your plant and equipment effectively?


Business Management and Risk


Operations Management

  • Are your inventory management practices efficient?
  • What is your customer relationship management like?


Business Performance

  • Is your working capital under control?
  • Do you monitor the performance of the business regularly?

The numbers form part of the outcome, but the real discussion is needed around the drivers and fundamental elements of your business.

Self Management

  • How many days leave do you have a year?
  • Do you take time to work on the business?


Human Resources (HR)

  • Does everyone understand their roles and responsibilities?
  • Do you keep up to date with changes in the law and regulations that relate to your business?
  • Do you have performance management processes in place Performance Reviews?


Environmental Sustainability

  • Do you understand climate change, water use and energy management and how they impact your business?


Marketing and Distribution

  • Do you have a marketing plan?
  • How do you win and keep customers (Competitor Advantage)?


Brentnalls SA's approach is to pull together an assessment of your business performance, challenges and opportunities over a series of workshops and use this as the foundation for determining agreed plans, actions and targets.


The plans and activities are then actioned by you, in conjunction with us and other professionals as needed, along with periodic meetings to review progress and outcomes.


Our snapshot tool provides a principally non-financial-based approach to the questions that matter in business. Put simply, it is a process of collecting the views of different stakeholders in the business, and honing them towards the areas that need focus or alignment.


Essentially, gaining clarity in improving business performance and operational management makes a real difference both in financial rewards and owner/manager peace of mind in addition to making your business ready for sale, succession or capital raising.


An example of snapshot:

Example of what our snapshot for business looks like.
Download PDF

Discuss Further?

If you would like to discuss, please get in touch.

Disclaimer

The information provided in this article does not constitute advice. The information is of a general nature only and does not take into account your individual financial situation. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you contact Brentnalls SA before making any decision to discuss your particular requirements or circumstances.

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