Executives and senior managers have an increasing appetite for accurate, comprehensive and current data on their comparative effectiveness to ensure that they are positioned where they want to be in the market, and ultimately to help improve performance.
Typically used in management, process benchmarking is used to evaluate a business's processes against industry best practices. This then helps a company identify where improvements can be made in order to better their performance and success within a particular industry, through a plan which is put together using all of the information from benchmarking.
You are able to gain this valuable insight through pbl’s numerical and best practice benchmarking service, and in addition to continually monitoring your relative effectiveness, you can:
- Identify best practice processes to enable you to understand where opportunities for improvement/process efficiencies lie.
- Demonstrate to your Board, internal stakeholders and regulators that you are actively managing policies and making informed decisions, enabling you to prioritise investment.
- Interpret principle based regulations by sharing views and considerations with your peers to aid understanding
To find out more about our benchmarking solutions please contact us and we will get back to you.