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Mar 17, 2015

Benchmarking is a comparison of a business’ operating Key Performance Indicators (KPIs) and financial ratios with best practice and average performance data relating to similar businesses.

The utilisation of benchmarking tool is an integral part of an accountant supplying a business advisory service to his/her business clients. It’s very difficult for small businesses to find authentic data against which to compare their performance to that of their peers, as this information is generally not known or released.