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Benchmarking the finance organisation
Benchmarking is a widely-embraced improvement methodology involving the systematic search for the best practices, innovative ideas, and highly productive operating methods that lead to pre-eminent performance.
It facilitates the comparison of similar processes across organisations and industries in order to measure performance, establish performance targets, and assess operational progress.
Given the climate of global business and technological innovation, methodical study of the metrics, practices, and strategies of top businesses can expedite the average organisation's progress and improvement. By using benchmarking effectively, enterprises discover ways to reduce costs as well as increase efficiency, profit, and performance. In the process, they learn how to make more informed decisions and manage change more effectively.