Benchmarking is the systematic process of evaluating the work processes of organizations that are recognized as representing best practices for the purpose of improving performance.
Benchmarking was developed by Xerox as a solution to a problem. Benchmarking is being used as a crucial performance improvement tool.
Benchmarking has moved on over the last 40 years and there are now many reasons why organizations benchmark and many benefits that they gain. Performance improvement, budgeting, testing ideas, technical problem solving and resolving disputes are just a few of the reasons why organizations benchmark today.
Factual Solutions© offers training and consultancy services in Benchmarking. Please contact our office for more information.