Corporate Performance Benchmark
For companies operating in a competitive environment it is essential to be able to measure performance against peer companies. Key Support functions such as Finance & Accounting, Information Technology and Human Resources, in contrast to the core business operations, are not directly and on a daily basis measured against competitors.
The Corporate Performance benchmark is a subscription service that gives participating companies a cost- and resource efficient tool to better understand how their main corporate support functions measure up to other large Nordic companies.
The benchmark is customised to each participant’s requirements with regards to scope, depth and time of delivery.
The benchmark allows participants to track performance relative other organisations instead of against static goals. Regardless of the initial relative position, goals can be set on how to improve ranking.
Cost and value perspective
The benchmark is designed to look at the corporate support functions from a business perspective. By not only measuring costs but also the satisfaction, the comparison becomes more valuable and relevant.
Benchmarking encourages a company to become open to new methods, ideas, processes, and practices to improve effectiveness, efficiency and performance.
Organisations who benchmark their performance report the following benefits:
- Identify areas with direct cost savings potential
- Gives an excellent baseline for planning and follow-up
- Facilitates budgeting
- Presents an objective evaluation of the operations to management
- Accelerates understanding and agreement on the real problem areas
- Gives a better understanding of your organisations’ needs and priorities
- Helps to prioritise work on improvement opportunities
- Use the results as a basis for negotiations with your suppliers
Key cost ratios
The cost benchmark is designed to let the participant compare key cost ratios that are universally used to track benchmark performance.
- Ratios by revenue. Example: Cost as a share of revenue.
- Ratios by volume. Example: Cost per employee.
- Ratios by cost. Example: Cost as a share of operating expenses.
The cost benchmark is designed to let the participants compare not only the total costs for corporate support activities but also the costs for the resources that are invested in the corporate support operations and the costs for each function that the corporate support operations are composed of.
The in-depth Value analysis provides a tool to measure quality and set the right priorities. It assesses the business value by measuring the business management’s satisfaction. By also measuring the importance attached to various issues it enables the identification of weak areas that need to be targeted for improvement.
The value analysis enables the prioritisation of resources to achieve higher value combined with maintained cost effectiveness.
The individual data of the participating companies is guaranteed confidentiality. Each company receives results where the individual data are evaluated against comparison figures such as averages, medians and percentiles.
The data collection is carried out by means of a questionnaire. The participating companies fill out the questionnaire with support from an analyst at Waagstein Research.
The measuring of value is carried out by means of a web survey to leading decision makers within the participating company.
Companies are grouped and compared in the industries Manufacturing, Trade and Services.
- Participants get an individually developed report and a presentation that facilitates the presentation of results within the organisation.
- Web access, with an unlimited number of web users, to our online Research Center with benchmark results in the form customised interactive charts and tables. Via the web interface users get continuous access to new and updated research data.
- Participants have the right to personal telephone or e-mail contact with our analysts. Skip the search and let us find the information you are looking for. If the information is available in our database and covered by your subscription we will compile it for you free of charge. If the information is not available we will keep your question in mind for our upcoming research.
Since the needs and requirements of different companies vary the benchmark is customised to each participating company.
Examples of questions that are taken into consideration are:
- Which areas (F&A, IT, HR) should be included in the benchmark?
- How comprehensive should the benchmark be within the selected areas?
- When and how often should the company specific data be collected?
- Is there a need for adaptation of the analysis?
Please contact us if you have any questions or want more information about this study:
Staffan Johansson, Project Manager
+46 704 306 691