How Benchmarking Can Improve Your Business Performance

Posted by Rumin Mann
July 16th, 2012

Sort of like the bumper sticker that asks ‘How’s My Driving?’, FPInnovations has developed a benchmarking tool that uses a company’s own data to identify strengths and weakness within their current operations, and provide recommendations for action.

Confidential benchmarking studies are established, well recognized methods that provide individual companies with the information they need to prioritize their improvement efforts. The information collected during benchmarking establishes a framework for businesses to measure and improve their performance year over year, and compare their performance to others in their industry sector.

Maintaining confidentiality during benchmarking is crucial. A company is not individually identified, nor is individual company information released to the public. Only aggregate sector information is used to compare an individual company’s performance to that of the sector

Recently, FPInnovations has been working closely with Canadian businesses in the Kitchen Cabinet, Millwork and Furniture sectors to define the performance criteria most useful to company owners and managers.

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