Veja como você pode melhorar suas previsões financeiras usando benchmarks do setor.

These can be significantly improved by incorporating industry benchmarks. By comparing your company's performance metrics against industry standards, you can identify areas for improvement, set realistic goals, and make more accurate projections. These benchmarks provide valuable context for your financial data, allowing you to assess your competitive position and adjust your forecasts accordingly. Additionally, industry benchmarks can help validate your assumptions, uncover potential risks or opportunities, and provide credibility to your financial projections when presenting to stakeholders or investors. Regularly updating your forecasts with the latest industry data ensures your financial planning remains relevant with market trends.

We are gathering data to understand the industry rate and how to use and read the data, thus improving the KPIs. While using the KPIs you can use it to analyze the variances to reach the best industry standard rate. Also, considering forecasting product-wise or department-wise will assist to enhance.

Apple-to-apple comparison is essential; We can't compare the Performance of a particular Company with another till time we have established at least 80% common areas. There cannot be exact comparables, We will have to work with near to exact Comparables and adjust comparables for the differentiator factor. Internal YoY comparables and External Benchmarking could derive the ranking in the Industry and will put forth the path for achieving the Goals. Usually in Benchmarking exercises, Data from hearsay sources should not be considered and sources should be reliable and mostly Published.

Gosto daquela máxima: Conheça-te a ti mesmo! ou trazendo para o corporativo, Conheça a sua empresa (nos detalhes). Conhecer todas as variáveis e o reflexo delas nos indicadores é o mais indicado para que quando se colha variáveis externas, se consiga comparar de maneira efetiva.

During Budgeting and Forecasting, Usually, we tend to see and compare ourselves with the competition and we try to reach to particular goal. Variances should not be seen in Numbers only, It should be more about What value additions we can make to our existing offerings in comparison to the competition and what is our Strengths are acting as USP for our Consumers. Variances should also lead to Positives and should be focused on building a roadmap to overcome the challenges. Using the Whiteboard and checkbox method with different parameters listed in the Open board room meeting will be the Key to successful Benchmarking.

Ambitions have no limits, But Business House needs to be realistic and control its horses and not jump to Conclusions and put the Budget across; This will backfire. Step by step plan and breaking the goals into 3 Years will lead to comfort and Confidence will be built and the team will be motivated to achieve the Targets. Every Business house is unique and no 2 Companies cant be exactly similar, similarly, goal setting will be different. The negative side of Benchmarking is it pumps up the expectations. Benchmarking is a Scientific process and not an Emotional Motivation process.

Uncertainty is everywhere, So course correction will be always needed and to do so we will have to be always on alert mode with all information quickly available for changing the direction. For instance, we Forecasted a new service Launch, But due to some environmental policies we might not be able to launch our services; These kinds of external factors will always prevail and we might be totally off our Forecast. All we can do is to have timely information to minimise the impact or build an alternative. Modern Tools will have to be evaluated like Power BI or Tableau to display quick information for monitoring. We monitor to make decisions, So Not Just monitoring but Supporting decision-making with Monitoring is the objective.