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The demand for
enterprise benchmarking grows continuously as the only approach
providing objective and effective measurement of actual status, its
evolution, positioning among the regional, national and international
industries.
The benchmarking is a component in various national and
international economic development studies such as competitiveness,
productivity, investment climate, business operating conditions, etc.
The benchmarking data are required in certification, audit and
investment promotion programmes. Policymakers and investment promotion
intermediaries benefit from the benchmarking data as well.
Among the problems related to
benchmarking there are are as follows:
-
different
approaches and methods toward benchmarking
-
difficulties
in obtaining valid data in volume
-
accuracy of
data
-
reluctance of
entrepreneurs in providing data in detail
-
the gap
between demand for information and its availability in time, location,
industrial or economic sector
-
overall time
and costs of implementation
Pharos software suite supports enterprise benchmarking by calculating
several key performance indicators of plants based on enterprise
database. The benchmarking report and content is customizable and can be
modified to meet benchmarking objectives.
The results can be easily statistically processed and analysed by
industry and region.
The executives are able to compare the performance of their assets by
KPI against their peer group to monitor competitiveness. Performance
gaps become quantifiable for use in strategic planning processes and
lead to more effective capital allocation and overall performance.
The objectives of the Pharos benchmarking
implementation were as follows:
-
Providing valuable add-on tool for enterprise benchmarking using
existing simple Pharos enterprise database,
-
Increasing accuracy of benchmarking results using actual
verifiable data,
-
Minimizing errors and subjective judgments by management
and intermediaries,
-
Providing valuable additional data to supplement
interviews and questionnaires, if required minimizing human errors and incompetence,
-
Making
benchmarking results immediately available
upon each monthly update in easy, simple and quickly way
at any moment of time,
-
Facilitate real-time processing of results from multiple enterprises to
make aggregated data easily available by location, sector, region,
country, etc for further studies
The information is calculated
accordingly to particular indicator formulas used in Pharos suite and presented in graphs, tables and benchmarking reports.
The procedure allows improving data quality and
its verification based on actual enterprise results. In
addition it facilitates changing business culture of entrepreneurs in
using IT tools for business benchmarking, measurement, management and
decision preparation.
The Pharos benchmarking implementation allows further
expanding of benchmarked results by adding indicators which can be
calculated using data available simple Pharos enterprise database.
From this prospective Pharos software suite provides simple data
collection tool for various benchmarking applications.
Further details regarding Pharos benchmarking module
implementation >>>
Contact
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