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The
Enterprise Benchmarking
is add-on module for Pharos - Business Navigator. The another add-on module "Advanced
Data Export - Import" allows effective
data
transfer between Pharos and other software
which may be used in enterprises.
The objectives of the benchmarking module
development were as follows:
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Obtaining information about absolute and relative change of major
business indicators for the current date compared to some
reference date in the past.
-
Presenting this information in both radar graph, time
series graphs, tables and relevant reports.
-
Providing trend identification and analysis tools by
using simple averaging method.
-
Allowing flexibility in defining any desirable averaging
period within interval of 1-12 months.
-
Using actual data available in Pharos and Produce
Plus enterprise databases for obtaining objective results.
-
Minimizing possibilities for subjective judgments by management and
intermediaries.
-
Minimizing use of questionnaires, human errors and incompetence as well as delays in getting results
after data processing.
-
Obtaining benchmarking results easy, simply and quickly at
any moment of time.
-
Presenting in business reports only figures of relative change in percent
thus avoiding revealing sensitive information about absolute
values of some key performance indicators. It facilitates public
discussions of performance management issues and knowledge distribution.
The
benchmarking module allows presenting major indicators as time series
within the period selected between current date and some date in the
past called “benchmarking analysis period”. Current business results are
compared with those which took place some time ago called as “reference
date”. The reference date can be selected within the benchmarking
analysis period which is limited only by availability of data in the
enterprise database.
The information is calculated accordingly to particular indicator
formulas used in Pharos and Produce Plus and presented in graphs, tables
and benchmarking reports. The data used for the benchmarking is
extracted from the actual enterprise database available in Pharos and
Produce Plus.
The example of the user screen presenting the selection of 5 key
performance indicator time series is provided below. It includes radar
graph with all indicators in one picture allowing quick analysis of
relative change.
(click the picture to expand,
its quality may depend on your monitor resolution)
The benchmarking module allows
entrepreneurs and consultants obtaining the estimation of change for following indicators:
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Net Profit (Pre Tax),
-
Expenses Overall,
-
Sales Revenue,
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Overall Added Value,
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Overall Added Value per Employee
-
Labour Ratio
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OEE (Overall Equipment Efficiency)
The indicators are calculated in two formats: actual and averaged. The
duration of averaging period can be varied by users within the interval
between 1 and 12 months to identify trends.
The output information is available in tables, graphs and business
report document. The report provides only relative figures to avoid
revealing sensitive financial data. The information about relative
change is available in benchmarking report and can be used in
presentations for various third parties (banking, investors, industrial
association, image making events, etc).
The absolute monetary data is available in on-line graphs supporting
entrepreneurs in in-house analysis of results. All indicators are
presented in the radar graph providing for overview of change at a
glance as follows:
(click the picture to expand)
The reference data for each indicator
is presented in blue radar line.
Some examples of benchmarking module
implementation are presented as follows:
The module was introduced as part of the UNIDO Pharos
software suite for Business
Performance Measurement, Management and Benchmarking for
consultants and entrepreneurs. It can be run by selecting the
"Benchmarking report" item in
the Reports item providing for simple and easy monitoring of the
results. The copies of the reports are always available in the XML
format under the particular enterprise database subdirectory XML. The
benchmarking reports are available in short or extended format. The
extended report provides time series for each indicator over the whole
selected period of analysis.
The benchmarking applications
The benchmarking module provides enterprise
management as well as business consultants with simple evaluation of main business indicators facilitating
prompt identification of corrective actions. Its application differs
from typical benchmarking approach based on interviews with senior
management and questionnaires as follows:
-
The
entrepreneurs and assisting personnel are provided with Pharos suite and
take part in the introductory training workshop
-
The
enterprise database is developed by entering backlog data for one or
more years. Pharos needs very minimized data to calculate key
performance indicators and generate benchmarking reports
-
The
benchmarking consultant runs quick audit of enterprise, verify the
database completeness, runs diagnostics and print benchmarking reports
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The reports
from multiple enterprises can be saved in electronic format XML for
further comparison and calculating accumulated statistics.
The procedure allows improving data quality and
its verification based on actual enterprise results. It facilitates changing business culture of entrepreneurs
while using IT tools for business benchmarking, measurement, management and
decision preparation.
The application can decrease costs and enrich
enterprise certification programmes as well by minimizing the overall
costs and time for business audit per enterprise. Further
Pharos software can be used for
real time performance monitoring
for enterprise groups, e.g. in regions or industrial sectors.
A simple statistical analysis of data about relative change for
multiple enterprises would facilitate actual picture of
economic developments in SMEs industries in clusters.
The examples of applications:
1. Providing valuable additional information when applying for business development loan by some
financial institution or investment agency.
2. Presenting business results to owners or shareholders
or potential investors by existing enterprise management.
3. Reviewing business results after making certain
strategic changes in enterprise business, for example, introducing new management,
innovation, new technology, shift in production pattern, etc.
4. Evaluating of particular business strategy for future
development among other options.
5. Assisting business consultants in management upgrade
programmes.
6. Evaluating of particular results in business games and
educational applications.
7. Presenting of particular business development
examples in public events such as seminars, conferences, workshops, etc.
The module implementation allows further expanding of the
benchmarked set of indicators.
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