Continuously benchmarking your business performance and keeping abreast of the changes around you has always been one of those exercises you know you should do but don’t have the time. It often gets shelved amid day-to-day strife and is lost to that common tendency of busy managers to work in their business rather than on it.
Those that do find the time and energy to maintain a benchmark measure of their company against their rivals are often left looking at an incomplete picture. Such is the time needed to manually gather the data, analyse it in-depth and tease out key strategic data, most companies cut corners and focus just on a handful of local rivals and miss threats, opportunities and trends happening all around them.
Building and maintaining a complete benchmark assessment that looks at all facets of your business performance has never been more important than in the current economic climate. The coming years are predicted to be among the fastest-growing on record and those that power out of the pandemic are likely to be those best prepared and well informed.
Plimsoll believes that every business should be able to benchmark their performance and be able to quickly compare it to rivals and key market trends. We are committed to removing time, stress, and unnecessary cost so that level of analysis is available to all. We are dedicated to putting up to date, strategic analysis in the hands of decision-makers whenever and wherever they need it.
Plimsoll will soon launch its brand-new Benchmarking Module as part of the redesigned Plimsoll Analysis. Built with input from many of the UK’s most dynamic business leaders, this interactive platform will let you instantly understand your performance, your position in key markets, your comparison against key rivals and industry trends. All that intelligence will be continuously updated and presented in an easily digestible format, so you are ready to make decisions while others waste time staring at data and missing out on the actionable analysis.
The new Benchmarking Module within the Plimsoll Analysis is designed to enhance your competitive advantage by instantly allowing you to:
See your own business how others see it
You are a key component in the success of your own business and might not have had the time recently to take a step back and view your business how others see it, especially over the past year or so.
Plimsoll’s interactive module provides an independent “helicopter” view of your business and its trend in performance over the past 5 years. Key questions that have lingered in the back of your mind can be answered instantly, including:
The new Benchmarking Module gives an in-depth, independent view of your business, its value, its attractiveness to potential acquirers and its overall financial stability. Presented in an easy to understand format, you will have a completely different view of your company as it stands today.
See how you compare to others in your key market
Our new Benchmarking Module then takes the next logical step and reveals how your company is currently performing compared to every other company in your chosen market.
The interactive analysis includes easy to follow navigation to reveal how your company compares to others in the market and the latest overall industry averages. You will be able to instantly compare your performance on:
Comparing your business to every other business in your key markets allows you to plot your current position and identify where you could and where you must improve.
Compare yourself to those that matter to you
The Benchmarking Module will then allow you to take a forensic look at those companies that matter the most to you. Whether it is a localised study of companies in your region, the companies that service a particular niche or an entirely personal group of companies in your market, the module will show instantly:
For the first time ever, you will be able to build your own, completely bespoke studies in seconds that will provide a fresh perspective on your position and those that matter to you. As the data used to compile the analysis is continuously updated, you can be sure that you have the best possible view of your strategic landscape.
Benchmark yourself against the best
The final element of the Benchmarking Module is the ability to compare yourself to the best. While an overall comparison is interesting and a peer comparison is strategic, a comparison against the best instantly shows the level you need to achieve, or maintain, to be considered among the highest achievers in the market.
The Benchmarking Module does all the work for you and isolates the best in class across a number of industry KPI’s. It will then compare your own company in a series of ranking tables to show how you stack up. It will demonstrate where need to improve and where you need to consolidate already strong performance.
The new Plimsoll Analysis is launching soon, but we will be choosing one company from each of the 1600 industries we cover to have one-month advance access before anybody else in the market. To register your interest in being the first to view the Plimsoll Analysis on your own business please click here.
If you are not lucky enough to be the first, then why not register for product development and launch updates about the Benchmarking Module and some of the other exciting analytical tools Plimsoll are launching in Autumn 2021. Click here to register for updates.