Chartered Certified Accountants and advisers - Bathgate & Aberdeen

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Measuring and improving business performance

  1. Setting clear goals and objectives: We work closely with you to establish your long term strategy and establish measurable and specific targets helps to determine what needs to be improved and how progress will be tracked.
  2. Data collection: Gather relevant data and metrics, such as sales, customer satisfaction, and operational efficiency, to get a comprehensive view of the business performance.
  3. Financial analysis: We can provide insights into a company’s financial performance by analysing financial statements and other financial data, identifying trends and deviations from expectations.
  4. Cost control: We can assist in reducing costs by identifying areas of waste and inefficiency, and developing strategies for improving operational efficiency.
  5. Tax planning: We can help minimise tax liabilities and maximize tax savings by identifying tax planning opportunities and ensuring compliance with tax laws and regulations.
  6. Identifying key performance indicators (KPIs): Determine the most critical metrics that accurately reflect the performance of the business.
  7. Monitoring performance: Regularly review KPIs and other relevant data to identify trends, patterns, and deviations from expectations.
  8. Implementing improvements: Based on the analysis, implement changes to processes, systems, or other areas to improve performance.
  9. Continuous evaluation: Regularly reassess performance, collect and analyze data, and make further improvements as necessary to sustain and enhance performance over time.
  10. SWOT Analysis – assessing your strengths, weaknesses, opportunities and threats to develop your strategy.

Business benchmarking

Business benchmarking can be applied to various aspects of a company’s operations, such as financial performance, customer satisfaction, operational efficiency, and more. By comparing its own performance against established benchmarks, a company can gain insights into how it can improve and stay ahead of the competition.

  1. Internal benchmarking: Comparing a company’s performance against its own historical data to identify trends and areas for improvement.

  2. Competitive benchmarking: Comparing a company’s performance against its competitors to understand its relative strengths and weaknesses.

  3. Industry benchmarking: Comparing a company’s performance against industry standards and best practices to identify areas for improvement.

  4. Functional benchmarking: Comparing a specific aspect of a company’s performance, such as its supply chain, against industry benchmarks.

Benchmarking can be a valuable tool for companies of all sizes, helping them to identify opportunities for growth and improvement, and to stay ahead of the competition.

Example Reports