Reports are the picture, you are the storyteller
Our business benchmarking software helps accountants to work productively and in a highly targeted way to address very specific performance issues with their business clients. Business benchmarking falls under the umbrella of business advisory, but we believe it is such a valuable and specific area to be targeting that we have given it its own category.
Our business advisory report can be specifically tailored to focus on benchmarking factors by using benchmarking filters and specific benchmarking strategies.
This allows accountants to quickly produce a report targeting client data and strategies for improvement in critical areas like:
- Increasing sales
- Reducing cost of goods sold and materials
- Reducing wages
- Reducing overheads
- Reducing subcontractors, and
- Reducing owner’s compensation
The report can be produced at any time. An ideal time is at the conclusion of a BAS service. Instead of just providing your client with numbers and ticking a box to meet BAS deadlines you can also produce a benchmarking report to round off the service with helpful analysis and advice for improvement. Keep your client in business, on track and improving. That’s your job.
Improvement strategies can lead to more compliance work or chargeable services for implementation.
Competitive benchmarking
With benchmarking, a business’s performance, practices and processes are compared against industry leaders or competitors. We have chosen to base TaxFitness benchmarks on the top 20% of performers in each Australian business type.
Comparing your client’s business against top performers in the same field provides ideas, insights, opportunities for improvement and a better understanding of a business’s market position. Constructive change is then possible.
How many benchmarked business types?
We’ve made it our mission to benchmark over 400 business types.