Benchmarking is a proven approach for determining any organization's competitive position and for setting its future course. Companies of all sizes began turning to business benchmarking in the early 1990s, using the basic principle that "you can't manage what you can't measure."
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This industry had limited industry metrics to benchmark company performance.
Solution: Developed an annual Balanced Scorecard program involving leading firms in the industry. Funding was provided by a key industry supplier who understood the long-term value of financially healthy customers.
Result: The BSC firms now have objective metrics for performance evaluation and accountability for operations improvement. The BSC metrics have enabled individual firms to focus on those areas with the most need for improvement.
Wholesale growers of agricultural products needed a standard for comparison to determine financial productivity and approximate market value for each company.
Solution: Developed customized survey that measured financial rankings and operating profile of each participant in areas of production, sales and distribution.
Result: Participants used individual rankings to identify areas of strength and weakness for use in driving Stratigic Planning and Profit Improvement action steps and to determine competitive position in industry for M&A opportunities.
Industry leaders wanted to introduce business benchmarking techniques as a means of educating members to measure business performance more effectively.
Solution: Worked with task force to develop basic performance ratios for the industry and a survey that would collect relevant data.
Result: Selected business metrics were developed and shared with participants to demonstrate the value of benchmarking as a performance diagnostic tool.
A fortune 50 manufacturer, planning significant changes in sales and marketing programs, wanted to measure retail customer opinions and perceptions versus its competitors.
Solution: Developed and implemented on-line survey of retail executives before and after implementing the new sales and marketing programs.
Result: The manufacturer, knowing the current retailer perceptions, was able to move forward with confidence that it had the right strategy and could develop appropriate market communications.
A company wanted to market proprietary financial benchmarking software to target a market in which the company or software brand were not known and to whom benchmarking was a new concept.
Solution: First, we developed the software system, then developed a high-profile relationship with influencers, trade press and consultants, created a website for educational and selling purposes and distributed promotional materials to qualified prospects.
Result: Software brand has achieved national awareness, an accounting journal's Innovation Award and an expanding user base.