One of the biggest frustrations for companies when benchmarking is finding comparable industry data. If the data used is not comparable, benchmarking results can be irrelevant. The best place to find comparable data is from trade associations or other similar organizations but because companies are usually reluctant to share their “secret sauce”, the information received from these organizations can be spotty at best.
SVA professionals are able to provide our clients industry performance information from IBISWorld. IBISWorld has the largest collection of U.S. Industry reports. They cover 1400+ industries and identity, qualify and analyze nearly 4000 product segments. Report data and analyses are fully updated three times per year on average, ensuring the most accurate data, trends and intelligence.
In each financial area, there are Key Performance Indicators (KPIs) that are used to measure performance. A KPI is simply a quantifiable measure or metric that tells how a company is performing. Examples of common KPIs include debt-to-equity ratio, working capital, return on equity, profit and loss reports, current accounts receivables and payables, income and expenses, inventory turn, net and gross profit margins, etc. KPIs differ from one industry to the next.
After you determine the key KPIs for your company, we can collaboratively start putting together the information necessary to measure and analyze the KPIs for your business.