Empowering Growth with Real Data

Creating a benchmarking study, especially your first one, can look like a daunting task. As you begin to look at what data you want to collect, you should consider, first and foremost, what will your members find most valuable? What key performance indicators do you measure to give the most accurate, and meaningful, peer-to-peer comparisons? As a CFO, I tend to place a high value on financial and operational data. To me, they are the truest indicators of the health of an organization, are easy to quantify, and one of the most accurate ways to compare one’s performance against that of your peers. Basic financial statements are used worldwide as a means of assessing the value, performance and growth of businesses making them a great starting point for developing a successful benchmarking study. 

During this holiday season our thoughts naturally turn to family, as this is the time of year that families come together to celebrate and reflect. We come together and give thanks for all that we have and, as the year comes to a close, make plans for what we will accomplish in the new year ahead.