Strategic Benchmarking

STRATEGIC BENCHMARKING AS A TOOL

Benchmarking as Their Tool:

  • Understand the purpose and use of benchmarking.
  • Understand the difference between benchmarking and competitor research.
  • Gain insight to ensure that benchmarking is in alignment with the company’s management objectives.

Benchmarking is a process for obtaining a measure – a benchmark. But benchmarking is not a quick or simple process tool when applied to the complex and fragmented world of organizational document production.

Benchmarking Versus Competitor Research

Benchmarking

Focuses on best practices
Strives for continuous improvement
Partnering to share information
Needed to maintain a competitive edge
Based on customer needs after examination of the best

Competitor Research

Focuses on performance measures
Bandage or quick fix
Considered corporate spying by some “nice to have"
Attempting to mirror another company/process

Strategic Benchmarking

Conducting research outside one’s own industry for preview of best practices is often challenging for a company. Experienced Consultants understand that customer satisfaction in this space is driven by critical-to-quality measures that are similar regardless of the industry. They strive to insure that the cost of services and products should not have inflated or varied cost because deployment into vertical business sectors that may be perceived by vendors to have greater tolerance for premium pricing programs.

Strategic benchmarking is used when identifying and analyzing world-class performance. Often, these benchmarks are obtained from outside industries. Experienced Consultants look at best practices across all enterprises and deliver implementable recommendations for your consideration.

Benchmarks Provide Answers to Key Questions:

  • Is this a competitive market price for the services being provided?
  • How do services, service levels, terms, etc., compare to the market?

Understanding of the Current MPS Marketplace

  • Experienced Consultants understand the key issues faced by organizations in this space.
  • They offer support throughout the full sourcing lifecycle. Whether you're in the initial strategy phase or revisiting/updating your strategy, experienced consultants help you determine if outsourcing any program components financially feasible or desirable.

Evaluation of Competitive Pricing

With either a competitive RFP process or sole-sourcing situation, you need to know you are getting the best pricing. Only benchmarking ensures competitive rate structures that encourage proper behavior by both parties for service levels required by your business.

Negotiating/Renegotiating Contracts

Benchmarking provides assurance that you are entering into a properly structured agreement for both terms and charge mechanisms — accounting for your unique market factors requirements, and setting realistic and achievable results. Experienced consultants will recommend the most advantageous and cost effective contract terms.

That is where partnering with an experienced Copier and Printer Management Consultant, to benefit from their collective knowledge, brings results that can maximize process improvements and cost savings.