Businesses are usually very good at looking at financial statements, cash flow statements, budgeting and so on. These tactics are beneficial when trying to get the pulse of a company on a monthly, quarterly or yearly basis, but what about the tasks that build up into these documents?
When we consult with businesses about benchmarking, this is how we tackle the subject and basing it all around the tasks business conduct to make money. When the business breaks it down to this level, statements become much clearer when making business decisions. How does a business know where it is going and make the right decisions if they don’t know the benchmark of each task?
If you study the past and find out that a task was taking you an average of 4 hours to complete and now it is taking you 6, then what happened? This is the critical discussion that many businesses need to have, the process of benchmarking.