Benchmarking is an important tool for any business, be that against other similar businesses, or against your past or forecast performance.
Using industry benchmarks to analyse your business financial performance provides the ideal platforms for performance improvement opportunities.
The numbers form part of the outcome, but the real discussion needed around the drivers and fundamental elements of your business.
To aid these discussions we work with you to delve into questions and perceptions around:
- Are your premises really suitable?
- Are you utilising your plant and equipment effectively?
Business Management and Risk
- Do you have adequate documented policies and procedures?
- Do you have a disaster recovery plan?
- Are your inventory management practices efficient?
- What is your customer relationship management like?
- Is your working capital under control?
- Do you monitor the performance of the business regularly?
- How many days leave do you have a year?
- Do you take time to work on the business?
- Does everyone understand their roles and responsibilities?
- Do you keep up to date with changes in the law and regulations that relate to your business?
- Do you have performance management processes in place?
- Do you understand carbon tax, climate change, water use and energy management an how they impact your business?
- Do have a marketing plan?
- How do you win and keep customers?
Brentnalls SA's approach is to pull together an assessment of business performance, challenges and opportunities over a series of workshops and use this as the foundation for determining agreed action plans and targets.
These plans and activities are then actioned by the client, in conjunction with us and other professionals as needed, with periodic meetings to review progress and outcomes.
"Snapshot" is a tool we have developed in conjunction with Rural Directions Pty Ltd, Agribusiness Consultants to underpin this process for businesses across the SME sector.
The process provides a principally non-financial-based approach to the questions that matter in business.
It is a process of collecting the views of different stakeholders in the business, and honing them towards the areas that need focus or alignment.
Gaining clarity and improving business performance and operational management makes a real difference both in financial rewards and owner/manager peace of mind in addition to making your business more ready for sale, succession or capital raising.
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The information provided in this information sheet does not constitute advice. The information is of a general nature only and does not take into account your individual financial situation. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you contact Brentnalls SA before making any decision to discuss your particular requirements or circumstances.