When companies are pressed to find real-time market intelligence that provides the necessary insights into their industry, there are few resources that offer in-depth data or action plans to pave the way for a competitive edge. One definite resource towards not only market data, but also continuous improvement, is discussed in Source One’s latest white paper, Attain Best in Class Status and A Competitive Advantage through Cross-Industry Benchmarking.

The exclusive Source One Benchmarking White Paper allows readers to gain insights into the road to strategic advancement, an explanation of benchmarking, why it is done, the process, the benefit of a third-party benchmarking consultant, and case studies of improved operations from benchmarking. For organizations focused on improvement, benchmarking can help identify problem areas where there is opportunity for renegotiated contract terms, a more efficient supplier, or more competitive pricing.

A 2008 study by the Global Benchmarking Network indicated an average financial return of $100,000 to $125,000 per best practice benchmarking project with over 20% reaping benefits of more than $250,000 per project. With the use of benchmarking, a company can evaluate its pricing, workflows, contractual relationships, spend profiles and other parameters against the marketplace to gain insights on current operations and recommendations for continuous improvement. This type of information is extremely valuable for companies with a vision towards ongoing success and profitability. Our free white paper can serve as a first step towards evaluating and aligning future goals with present strategy.

To learn more about Source One, visit our supplier benchmarking services webpage.

To read the white paper, visit http://sourceoneinc.com/sourcing_whitepapers.html#benchmarking_white_paper.

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Rebecca Lorden

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