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The Benchmarking Financial Software template included with this Benchmarking Guide title (valued at $105) runs in conjunction with Microsoft Excel 97 or later. Developed in conjunction with FMRC Benchmarking, it is an essential tool to help you better manage your business and improve your bottom line.

OVERVIEW

Simply enter your financial data and within minutes you can analyse your business' performance against the specific industry averages. The software even provides commentary on the key areas of your business which need attention and suggests action strategies for improvement! Like this Benchmarking Guide itself, the software is a tool which will help you better understand the benchmarking process and how your business compares to others in your specific industry. Once completed, the financial overview of your business will be the start to improving your business. It will also indicate some strategies you can use to obtain better performances.

Plus, as an added exclusive offer for guide purchasers, you can submit your performance results to our experienced benchmarking consultants who will check and review your performance for free ($105 value). We will then send you a more comprehensive & detailed analysis of your performance against the wider industry.

SOFTWARE LAYOUT & DESIGN

The spreadsheets have been designed to be user-friendly. All reports in the workbook are linked, meaning that data is only ever entered once. The software automatically recalculates the effect of any changes made in one section, throughout other linked spreadsheets.

The workbook contains four main sections. The first is your data. The format of the software enables you to enter your latest financial figures from income through to expenses and gross profit, and obtain your results virtually immediately. The format of this spreadsheet closely follows the format of the statistical figures in the KPI chapter. This ensures you are inputting figures which are directly related to the statistical data we have provided in this guide for comparison.

The next section places your data side-by-side with the industry average for certain key areas. You will also be able to compare your figures with those in the KPI chapter once they have been sent to MAUS and verified. These figures will give you the average, high and low results for your industry for each particular line item and they are grouped exactly the same as they are in the guide - Location, Turnover and Profit. You will see at a glance exactly where your figures fall in relation to the rest of your industry.

You might want to compare your figures with the industry average first. If you are above average, then compare your figures with the "High" for your industry. These figures are the most challenging to achieve and will give you a higher goal to strive for. If your figures are below average, then compare them to the "Low" figure for your industry to see where your company falls. Again, it gives you an idea of the sorts of figures you need to achieve, even if that is the industry average.

The third section gives you a graphical representation of your figures against the average, high and low results for the industry. That way you can see a brief, graphical representation of how you are doing. Each major financial area is broken down into a bar chart, with your results, and the industry high, low and average clearly defined.

The fourth section analyses your results, based on the industry average, and provides you with a comment on the main areas in the financial report. It will tell you if your result was good, or not so good, when compared to the industry average and suggests areas you could look at to achieve even better results.

Once you have worked your way through each section, you can either print out your results or save your report to disk. You can keep using this software as often as you like to compare your figures with others in your industry and discover what effect any changes have had on your business and your overall results, when compared to the industry average.

Importantly, each benchmarking guide is updated annually, allowing you to continually measure the effectiveness of your strategies. Special discounts are available for previous purchasers.