Business Benchmarking

Business benchmarking is the process of comparing an organization’s performance, processes, and practices against those of top-performing peers or industry standards to identify gaps and improvement opportunities. It involves analyzing key metrics – such as cost, quality, productivity and customer satisfaction – across business functions like finance, human resources, information technology and procurement. Benchmarking helps organizations understand how they stack up against competitors, adopt best practices and set realistic performance targets. It is a strategic tool used to drive operational excellence, support transformation initiatives and align business outcomes with industry-leading standards.