Plz guys tell me what is benchtrending and how it differ from Benchmarking?
1 Replies
Pavan Daga
(business)
(125 Points)
Replied 17 February 2010
Bench Marking is -
Benchmarking is the process of comparing the business processes and performance metrics including cost, cycle time, productivity, or quality to another that is widely considered to be an industry standard benchmark or best practice. Essentially, benchmarking provides a snapshot of the performance of your business and helps you understand where you are in relation to a particular standard. The result is often a business case and "Burning Platform" for making changes to make improvements.
Benchtrending is the The latest approach to benchmarking.
It involves - Continuous monitoring of specific process performance with a select group of benchmarking partners.
Recent Topics
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
CAclubindia
