What is Benchmarking

Benchmarking is like matching yourself with best in your industry. In our business sense, benchmarking is a process to compare the organization, process and results in the other organization in your industry. It can be applied to any project, process or industry.

It is an indirect guide/force to ensure that your business does not lose the growth-path. The importance of Benchmarking has increased in manifold due to a big rise in competition and has become a separate value-added service for the business. Common focus point of Benchmarking are-

•Customer Satisfaction
•Processes
•Cost Effectiveness
•Better Result
•Costing System

 

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Why To Choose Centrik?

Our experts are hand-picked who has in-depth knowledge and versatile experience in their respective field. After received all details, we work closely to provide you the best possible solutions.

How Do We Work?

We design personalized solutions based on your requirements. We would study your business model, objectives and advice you the right option and procedure. The expert would also discuss the case with you and take your valuable inputs. After completion of this process you would get a well-crafted report by an expert.

What Are The Charges For Consulting?

We at Centrik, reply every single query we receive. Our first and preliminary reply is always free. The exact consulting fees would be communicated only after knowing the complete scope of work. Whatever the fees, it shall be communicated to you, prior to start of work, through proper mail.

Why Should Your Firm Benchmark?

The case for benchmarking suggests that a particular process in your firm can be strengthened. Some organizations benchmark as a means of both improving discrete areas of their business and monitoring competitor’s shifting strategies and approaches. Regardless of the motivation, cultivating an external view of your industry and competitors is a valuable part of managing in this world of change.

There are a number of core drivers of benchmarking initiatives in a firm.

  • The most common driver for benchmarking comes from the internal perspective that a process or approach can be improved. Organizations will collect data on their own performance at different points in time and under different circumstances and identify gaps or areas for strengthening.
  • Many organizations compare themselves to competitors in an attempt to identify and eliminate gaps in service or product delivery or to gain a competitive edge. The data gathered in a competitive benchmarking initiative offers specific insights into the competitor’s processes and thinking.
  • The term: strategic benchmarking, is used to describe when a firm is interested in comparing its performance versus the best-in-class or what as deemed as world-class performance. This process often involves looking beyond the firm’s core industry to firms that are known for their success with a particular function or process.

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