Benchmarking as we understand it

Benchmarking as we understand it

Benchmarking as we understand it

One of the specialized services of Digital Perspectives GmbH on bewertungsmarketing.ch is professional benchmarking. Under the term Benchmarking we summarize all measures and possibilities which allow to evaluate a company in its concrete positioning on the market.

This means that for a meaningful benchmarking not only the facts and figures of the individual company have to be available but also those of as many competing companies in the same industry as possible. Only then can the market position and the corresponding value of a company be meaningfully evaluated.

In conclusion, benchmarking is a data-based process that allows best practices to be identified that lead to excellence. The benchmark for comparison is always the performance of the best in the industry, because the dynamic target horizon in competition can also be seen here. The direct competitor can also be used as a benchmark in the step-by-step development.

Best Practice is the benchmark for successful benchmarking

The main benchmark criteria are as follows

– aims

– organization

– quality

– collaborations

– Strategies and

– Standards,

which are the most important factors for the success of a company. Of course, this also includes processes, products and services.

If, for example, one compares one’s own company with a best practice company in benchmarking, then a factual gap becomes visible, which ultimately reveals the development potential of one’s own company. This development potential is at the same time the improvement potential that defines the distance to the top in comparison.

Benchmarking is an ongoing process

Since companies are constantly evolving, benchmarking does not only depend on the unique impression or the current status. The benchmark is the benchmark of a determined peak performance. But even this peak performance is seldom static, but variable. The benchmark develops accordingly dynamically, which is why benchmarking itself must also be regarded as an ongoing process.

Procedure

A company first has to know its own values, figures and facts before it goes into benchmarking. Using comparable sizes of competing companies, it is possible to determine the distances to the market participants, which ultimately determine the position of the individual company in the market environment or in competition. It is therefore less a matter of conjecture than of clear, comparable facts and figures.

The advantages of benchmarking can only be exploited if a suitable partner is available for benchmarking. Otherwise, the possible costs may exceed the expectations for a feasible result with a manageable data density to the competition. Not every benchmarking provider is the right one, especially in terms of data intensity. Insufficiently comparable figures and facts create unclear images of the market situation and falsify the benchmark.

Digital Perspectives GmbH has a clear market overview in many industries and a large database that allows comparisons of individual companies with best-practice companies. This also generates the benefit of benchmarking for the individual company.

The benefits of benchmarking

If the benefits of benchmarking are to be defined, we distinguish between direct benefits and indirect benefits.

The direct benefit is defined by

– concrete improvements

– Uncovering potentials

– Evaluation of alternative solutions

– Assessment of strengths and weaknesses

– Identification of performance deficits

– Comparison of companies and business units, and

– the systematic and neutral company analysis

The indirect benefits are as follows

– Monitoring the development of the company

– Preparation of impact prognoses

– Improved / consolidated competitive position

– Initiation of a continuous improvement process

– Review of corporate strategies

– Determination of corporate goals

– Understanding your own business processes

A distinction must also be made between benefits and effects. Finally, good benchmarking aims at effects that can improve the competitive position of the analysed company.

There are four types of benchmarking: process benchmarking, product benchmarking, strategy benchmarking and performance benchmarking. In addition, the differences lie in internal or external benchmarking. Different organizational forms are based on objectives and method selection.

The benchmarking experts of bewertungsmarketing.ch are well versed with the entire range of benchmarking instruments and master the complete methodology from the first survey and planning of the objectives to the analysis of the results and the updating of the benchmarking process. Thus the specialists of bewertungsmarketing.ch are the competent partners for benchmarking in many industries and if necessary also across industries.

This post is also available in: Deutsch (German) Français (French) Italiano (Italian)

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