What is Benchmarking ?
Benchmarking is the process of comparing and measuring your organization against others, anywhere in the world, to gain information on philosophies, practices, and measures that will help your organization take action to improve its performance. Benchmarking gathers the tacit knowledge—the know-how, judgments, and enablers—that explicit knowledge often misses.
Why Benchmarking From APQC Is Better
Traditional benchmarking suffers from two big problems: getting a critical mass of accurate data for comparison, and making sure that the data can be accurately compared. APQC leads the world in solving both of these problems. Our Open Standards Benchmarking® leverages the power of the Process Classification Framework® to ensure apples-to-apples comparisons, while our independence and global scale ensures critical mass in the measures that matter most.
APQC Benchmarking works better because:
- we have more than 1,500 benchmark measures with sufficient data to provide at least one peer group comparison,
- we have more than 37,000 measure/peer group combinations with sufficient sample size to provide some level of data,
- all benchmarking data passes through a rigorous validation process wherein each piece of data is scrutinized and validated using both logical and statistical tests, and
- APQC is an independent nonprofit organization. We don’t use our benchmarking data to try and sell you an engagement; our mission is to enhance your productivity.
Benchmarks Created Specifically To Help You
Need benchmarks more personalized to your individual organization needs? APQC can provide specific, customized benchmarks in a wide variety of ways, including cuts based on specific industry (using the NAICS coding scheme), region, revenue range, or combination thereof. We also have the ability to build surveys in areas we don’t currently offer – areas which may be specific to your industry or region.
Benchmarking Data Delivered Fast
APQC members have access to the largest set of benchmarking data in the world at their fingertips. APQC’s Benchmarking Portal exposes more than 1,500 unique process measures to APQC members. Members get immediate access to valid process performance data as a part of their membership. No other organization offers so much data directly to its users.
While having the right data right away is helpful for getting quick directional guidance, sometimes it is crucial to ensure that your organization’s performance is being compared accurately to the benchmarks in APQC’s database. APQC offers two validated benchmarking opportunities to its members: the Rapid Performance Assessment (RPA) and the full Open Standards Benchmarking Assessment. Both the RPA and the OSB assessment return results to the user within 5 business days; the RPA typically within 2-3 business days. Compare that to the 6-12 weeks typically offered by some APQC competitors.
Benchmarking for Professional Services Firms
We help professional services firms provide clients with the most reliable benchmark data as quickly as possible. From business case calculations to custom peer groups and specific data collection requests, we can help.