Benchmarking evaluates and identifies the products, services and work processes of similar or competing organizations that are recognized as best-in-class and then applies these best practices to its own operations. The process of benchmarking involves a performance comparison of your organization with these best-in-class organizations.

The goal of Benchmarking is to find examples of outstanding performance and then understand the processes and practices that drive that performance. Your organization can then improve its performance by incorporating these best practices into your own operations through innovation and customizing the practices to fit your unique environment.

Improves performance of the organization by identifying methods of improving operational efficiency
Identifies opportunities for improvement throughout organization
Provides strategic advantage to your organization by focusing it on the key capabilities that result in success
Increases level of innovation by bringing new ideas into your organization

Identify customers for benchmarking and customers’ requirements
Identify customers’ product, service or process to benchmark
Create benchmarking team with specific roles and responsibilities or assign this role to SilverQuest
Identify benchmarking sources of information—organizations, consultants, etc.
Identify key performance metrics of best practices
Collect data on high level performance and best practices
Analyze the data and identify outstanding opportunities for improvement
Customize and implement the best practices with goals and organization buy-in

Would like to explore the idea of benchmarking for your organization? Let’s Talk