Menu
You are here: Home > Services > Service Packages > Benchmarking

Brentnalls SA providing Efficiency Reviews for businesses. Chartered Accountants and Advisors.

Benchmarking

Blue banner for efficiency review overview of service.

What is benchmarking?

Benchmarking is an essential process by comparing the performance of a business to other businesses within the same industry.

Why is benchmarking important?

Benchmarking process for any business is valuable, be that against other similar companies, and your past or future forecast performance. Our approach is to pull together, using our snapshot tool, a report of your business performance, challenges and opportunities over a series of workshops and use this as the foundation for determining agreed action plans and future targets.

"If you always do what you've always done, you'll always get what you've always got." - Henry Ford

What is a snapshot tool?

Snapshot is a tool which provides a primarily non-financial-based approach to the questions that matter most in business. It is a process of collecting the views of different stakeholders in the firm and honing them towards the areas that need attention or alignment. The numbers form part of the outcome. However, the discussions needed is around a business's key drivers.

The power of benchmarking enables you to identify those critical issues before they develop into a tricky problem in the future. Through identifying your high and low performing outliers, threats and opportunities, we can assist you in driving your business strategy for the future.

Blue banner for efficiency review benefits.

Gaining clarity from our snapshot tool, we can improve your business and operational performances, through making a real difference both in financial rewards and owner/manager peace of mind. Some other benefits are:

  • Knowing how your business is performing compared to industry standards with consideration to size and location.
  • Identifying the areas of the company that are performing poorly and need urgent attention.
  • Identify the financial and non-financial key indicators of the businesses performance.
  • Stimulate strategic discussions regarding aspects of business performance.
  • To provide a reference for setting performance expectations – therefore improving the business performance. To enhance the financial viability of your business, to make it more attractive to prospective business partners (succession planning) and to illustrate levels of financial management to financiers.
Blue banner for efficiency review service inclusions.

The benchmarking appraisal will involve:

  • A review of the practice's financial records over the past three years,
  • A review of non-financial information such as levels of staffing, the numbers of practitioners, appointment structures of practitioners, the operational details of the practice,
  • Analysis of financial performance against similar businesses with consideration to size and location, including identifying the profit improvement potential of your business, and
  • The benchmarking exercise is repeated annually. Which provides insight into the changes, what has happened in the sector and so on.

These plans and activities are then actioned by the client, in conjunction with other professionals and us as needed, with periodic meetings to review progress and outcomes.

Cost

Your investment in our Benchmarking service is advised once the full scope of the assessment has been determined.

Learn more

Helping businesses achieve their dreams is our passion and our strength is in our dedicated professional team

Make the time today to book an appointment with one of our professional advisors.

If you would like to print this information please click here for PDF format.

Our Services

Our services go beyond compliance to find out more about your goals, your priorities and establish plans to grow and protect your future wealth. We will take the time to listen, ensuring we meet your goals, as well as guide you so you have a better understanding of the financial decisions being made. Our services include:

Accounting & Tax
Business Advisory
Wealth Creation & Preservation

Our People

Our Partners & Principals want to be part of your team that drives your future success, that provides you with solutions to your challengers. More importantly, who listens and knows exactly where you are going and what you want to achieve financially. 

"Helping you achieve your dreams, is our passion, and our strength is in our dedicated professional team."

 

News & Resources

Our priority is to ensure your kept up-to-date on trends, industry legislations, accounting and tax updates, business advisory information, superannuation and much, much, more. All of which, may have an impact on you and your business. Our resources provide additional supporting information in the following areas: 

Newsletters
Fact Sheets
Checklists
News Articles
COVID-19 - Information Sheets
COVID-19 - Brentnalls SA Response

Our Location

255 Port Road
HINDMARSH SA 5007

PO Box 338
Welland SA 5007 

View location map

P: (08) 8241 8444
F: (08) 8241 8488

E: [email protected]

Connect with us on Facebook. Connect with us on LinkedIn.