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-