So you want to improve your key performance metrics in 2015 and you have already identified your top 3 business processes that will help you move the dial.
We have three quick questions.
- Who are your customers?
- Who are your direct competitors?
- Have you benchmarked your performance against your competitors?
Never underestimate the power of benchmarking and understanding the best practices in your industry, business, or organization.
Our friendly neighborhood internet encyclopedia Wikipedia defines benchmarking as the process of comparing one’s business processes and performance metrics to industry bests or best practices from other companies. This is an adequate definition and need no further explanation.
Benchmarking Example & Resources: Document Management System
One of the key processes that many organizations struggle with is document management. Inefficient document management systems has been known to be the root cause of increased waste, increased cost for storage space, and reduced overall efficiency and productivity. Most attempt to solve that problem with a document management IT solution.
We prowled google and developed a list of resources to assist with benchmarking various document management systems across various industries.
This is not an exhaustive list, but it is an attempt to demonstrate that benchmarking, even at that “prowling google” level, can help you compare what is happening in your key processes, industry, or business to that of your competitors.
- Online Resources
- Gartner compares (6) Leading Enterprise Document Management Software Vendors