New Tool Idea: Industry Standard Reporting / Benchmarking

Related products: R&D, etc

Having the tool to make industry analysis to judge how well the clients are meeting the standard. Taking the NAICS to break down industries. This could be broken down by revenue number to get a more accurate picture. 

Hey @Helix Point  - benchmarking against industry has been something we’ve been wanting to do for awhile! A few questions:

  • How long does it take you to do the analysis now?
  • How often do you report the benchmark to your clients?
  • What does your clients do after they get the benchmark?

Hey @courtney, thank you for reaching out. 

  • As of right now we do not have a tool that we use for the analysis. We could not find one that reached the small to medium business. We use data from the years I worked at QuickBooks, our other similar business, and past jobs
  • When we feel confided about our data, we bring this up quarterly as a judgment on where they are. 
  • Most of our clients of our client appreciate the feedback. We do it verbally, so I think there is a disconnect with our clients because there is not a visual report. 

 


I know Syft does a rough benchmark analysis.  It is pretty difficult to use though.


@Judah Interesting! What makes it difficult to use?


@Lily It is difficult to know the details that go into the benchmark.  For example, you can look up Marketing Agency and it will give you a marketing industry… however, what level of marketing industry is a different story because you can’t really benchmark easily to all Marketing Agencies because they are all at different levels.  So… a revenue range may be helpful or perhaps something else to indicate better which level you are comparing to.