Specialties
Benchmarking
"How can this company have twice the turnover I do and a 6-figure profit?" we were asked by a client showing us a competitor's balance sheet and profit and loss account.
The client had the best technology available in his factory, ensured that the quality of his product was perfect, took the best possible care of his customers... but in the end what counts is the bottom line of the operating account, which is what measures the success or failure of a business. We sat down to "read" this balance sheet and the profit and loss account to see what the figures said to us. These two pieces of paper contain a great deal of valuable information if you know how to analyse them.
What our client really wanted to know is why this other company earned so much more money than he did. With pencil, paper and a calculator we explained to him the differences between the two companies. In the end we reached the conclusion that although the two companies might be dedicated to the same activity, it was not the same business and did not have the same strategic positioning.
It was at this point when we realised the power of comparison. Knowing the results of our competitors and comparing ourselves with them impacts our behaviour in a very special way. Knowing whether we are better or worse than others stimulates us, reveals us as we are and forces us to leave our comfort zone.
One way of finding out whether we are on the right track is to ask for our competitors' business figures. Analysing them can help us understand what their strategic positioning is. We must avoid hearsay and focus on what is important; we must back up what we say with figures. Standing back from day-to-day activity and comparing ourselves with our competitors is a good way of gauging our performance. That, in fact, is what benchmarking is: a business technique that consists of continuous evaluation and comparison of the products, services and working processes in different organisations.
Often companies do not have the specialists and time needed to dedicate to what is an extremely valuable analysis. Our team of specialists at AUDITIA will do the work for you. We will provide you with concise, simple, visual reports to help you understand what the weak and strong points of your company are with respect to your competition. You will be given the conclusions of our analysis at a meeting, after which you can use them to establish your strategy for competing better.
This tool will undoubtedly provide you with the information and stimulus you need to carry out the changes that can boost the value of your company.
Compare to compete and to win.