Benchmarking means…
The comparison of operating figures, both financial and non-financial, from one firm with another, or a group of others, to assist in comparing your business to other similar businesses so as to assist in achieving Best Practice Management by comparing your business to others undertaking the same sort of work.
WHAT’S IT MEAN? Quickies
This post is part of the “What’s it Mean?” series of short and sweet responses.
Be sure to check the other posts in the series for more quick definitions. You can follow the series along on the blog or read them first by subscribing to our popular Business Plus+ newsletter.
Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
Christie has written 799 awesome articles for us at Alan Lewis Accountants – BLOG
Twitter: @christielewis
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