Benchmarking is the process of comparing the performance of a product, service, or process to industry standards or best practices. Benchmarking studies can be conducted to evaluate various aspects of a business, such as efficiency, effectiveness, quality, and profitability.
There are several types of benchmarking studies that businesses can conduct, including:
Internal Benchmarking
This involves comparing the performance of different departments or divisions within the same organization.
Competitive Benchmarking
This involves comparing the performance of a business to its competitors.
Functional Benchmarking
This involves comparing the performance of a particular business process or function, such as marketing or manufacturing, to other businesses that are known to excel in that area.
Generic Benchmarking
This involves comparing a business to other businesses in a different industry or sector that have similar processes or functions.
Strategic Benchmarking
This involves comparing a business to other businesses that are known for their best practices in strategic planning, innovation, and leadership.
We provide customised benchmarking studies for all types of inter-company transactions. The benchmarking analysis is performed in consultation with you to provide an optimal outcome.
- Routine trade-related transactions such as manufacturing, distribution, and services.
- Intangible-related transactions such as trademark and technology royalty.
- Service agreement search.
- Financial transactions such as loans and guarantees.
- We understand the inter-company transaction and search strategy proposed by you. If you do not have a search strategy, we will frame a strategy and discuss it with you.
- Once the search strategy is mutually agreed we will run the strategy on the database. Before extracting the data, we will share a screenshot of the number of companies appearing after applying the search strategy. We will modify the search strategy if you wish to change it at this stage.
- We will then extract a list of potentially comparable companies/ transactions/ agreements from the database;
- Using the extracted data, we will perform qualitative screening/ assessment (including website review, if required) to identify potential comparable companies/ agreements;
- Extract the relevant financial details of the comparable companies/ transactions so identified above;
- Draft full benchmarking report (including appendices)
- Discussing the draft benchmarking report and undertaking changes suggested by you (like removing or adding a company from the list of comparables, etc.)
- Finalise and share benchmarking reporting and backup documents (like website screenshots, database extract and its analysis, financial data, agreements, etc.) for your reference.