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Financial Benchmarking Service

The benefits of Financial Benchmarking

  • By comparing your business’s key performance indicators to other like printing businesses, you can identify comparative key strengths and weaknesses. You can then start improving those areas.
  • You have a system to consistently monitor your performance.
  • It’s a reality check. Businesses that do not make competitive comparisons tend to be over optimistic about their relative position, preventing them from making realistic and fruitful changes. 
  • Research shows that benchmarking is linked strongly to both business performance and operational performance.

Through the Future Print program, almost 100 print companies have now entered their financial benchmarking data and received comparative reports.

The reports provide vital and valuable comparative data of their business performance against industry averages.

Ability to compare with like-sized turnover businesses, also capital city vs regional operations, as well as against the general market.

Includes:

  • Income, gross and net profit
  • Financial ratios
  • Overhead ratios
  • Personnel ratios

Immediately highlight areas of positive performance and /or underperformance.

This valuable business improvement tool is now available to all business members of the Printing Industries Association of Australia as part of their membership benefits.

It’s for business owners or managers that understand the value of confidential comparative financial benchmarking data to assist to improve and monitor their business performance.

For example:
The vital question: As a business owner, how much are you earning for your time, effort and risk?

Something like “in the top 25% of performers in each turnover category, the net profit before owners’ salaries and benefits is $x ” – with a little table, “What are you as an owner earning – do you know and how do you compare to the industry average?”

Financial Benchmarking Average Results for Top 25% of Performers

 

Turnover less than $700,000

Turnover $700,000
to $1,499,999

Turnover $1,500,000
to $2,999,999

Turnover $3,000,000
to $8,999,999

Net profit before owners’ salaries & benefits

$90,942

$311,397

$414,945

$720,554

Another question: How much income comes into your business per employee?
And “in the top 25% of performers in each turnover category, the total income per employee is” – with a little table, “What is it in your business – do you know and how do you compare to the industry average?”

Financial Benchmarking Average Results for Top 25% of Performers

 

Turnover less than $700,000

Turnover $700,000
to $1,499,999

Turnover $1,500,000
to $2,999,999

Turnover $3,000,000
to $8,999,999

Total income per employee

$186,493

$179,234

$189,386

$198,841

 

Is my data secure?

Absolutely. The benchmarking programme is run in complete confidence by an external provider, Benchmarking.com.au. No one else sees your data or knows that you are in the program, including Printing Industries.

What is the cost?

The $575 purchase fee is waived for Printing Industries members giving complete access to this valuable service and the information it provides. Thanks to Media Super for supporting your business and the Industry through sponsoring this initiative.

Next steps

Financial Benchmarking is now available to all Printing Industries members. Click here to register now.


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