For the enterprise striving to improve its operational efficiency and effectiveness, business benchmarking offers several key benefits: helps making performance optimization discussions within the enterprise more tangible and specific, shows how your operational performance compares to your peers and to industry leaders, helps identify the most promising areas for business process engineering initiatives and finally will help build a compelling business case for change.
Our best practice business benchmarking helps propel clients to sustainable improvements in operational efficiency and effectiveness. The Hackett Group's business benchmarking team uses a rigorously defined taxonomy of corporate functional processes and activities that ensures reliable comparisons across different firms. Hackett's database is the most comprehensive in the world and contains data and business best practices from more than 8,400 individual business benchmarks.
Hackett business benchmarking consultants work with client teams to quickly complete the acquisition of business benchmark data, using customized client portals and online data-validation tools. After analysis, they deliver their fact-based findings to the client to establish a baseline for the organization's current performance, providing results against an appropriate peer group and world-class; defining and quantifying the organization's performance gaps, both in terms of functional efficiency and effectiveness; and prioritizing business process improvement initiatives, ranging from quick wins to longer-term projects. The entire business benchmarking process can be completed in as little as 6-12 weeks, depending on scope, and minimizes disruption to the client team.
The Hackett Group's premier business benchmarking and business best practices database is available to our executive advisory program members as well as to our business benchmarking clients. This exclusive intellectual capital also backs our consulting services for specific business needs such as finance strategy, HR strategy, supply chain process consulting, global business services, and more.
Sample business benchmarking data - G&A cost gap (in US$ millions) between the world-class and industry averages has increased by 33% over the last three years to $141 million for the typical Global 1000 company.
When discussing performance levels without a fact-based business benchmark, you are just having a debate of ideas, and you cannot achieve clarity and direction in a debate of ideas. Hackett's business benchmarking information provided the insight we needed to identify our biggest opportunities and move with speed and alignment to solve them.