by Richard Goldstein
Benchmarking is a great way to gage your performance against other firms in the industry. It is often difficult to gage your agency against other firms your size because of the lack of creditable information.
Are you willing to turn your books over to a competitor?
Information supplied by companies such as Dunn & Bradstreet are good but do not focus on industry specific criteria. They are more focused on what I will label financial statement analysis.
What is benchmarking anyway? Benchmarking is a process of computing one’s business processes and performance metrics to the industry bests and/or best practices form other industries. Dimensions typically measured are quality, time and cost.
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