Benchmarking

What is benchmarking?

Benchmarking identifies the best way to produce the best product. The aim is for the organisation concerned to adopt the best practice and thus improve its efficiency, effectiveness, product quality, service or all of the above.

The benefits of benchmarking

Benchmarking enables organisations to compare their performance and approach with others and to identify elements that can be adopted and adapted in their business. It can be a one-off event or a continuous process where organisations continually challenge and improve their practices.

The process

Benchmarking looks at how others achieve their performance levels and examines the processes they use. There are many different approaches to benchmarking, ranging from models of quality measurement to basic, pragmatic comparisons. Many organisations have an approach tailored to their own organisational goals and business needs.

Four key steps

The are four key steps to any benchmarking process:

1. Obtain a detailed understanding of existing business processes
2. Analyse the business processes of others
3. Compare 1 and 2 to find gaps
4. Implement the steps necessary to close the gaps

Benchmarking Service for Premier Members

We provide an informal benchmarking service as one of the exclusive benefits for our Premier Members. Through our facilitation, we enable organisations to discretely consult with one another and share expertise and best practice on particular areas of interest.

Find out more

For more information on how we can help you with benchmarking your organisation, please call us 020 7654 5000 or contact us online.