Binswanger Binswanger

Resource Center

White Paper

Corporate Services

Often we have been asked what is benchmarking and how does it add value to what we do?  According to the International Benchmarking Clearing House, benchmarking is “a systematic and continuous measurement process; a process of continuously comparing and measuring an organization’s business processes against business leaders anywhere in the world to gain information which will help the organization take action to improve its performance.”  The benefits of such initiatives are many…a sampling of such benefits includes:

  • It can and most often does stimulate innovation;
  • Most often it provides for an urgency for change;
  • Almost always it uncovers new ways of improving processes;
  • It usually motivates action given the external example;
  • Helps ensure the organization strives for excellence
  • Promotes continuous quality improvement
  • It stimulates innovation
  • It promotes breakthrough thinking
  • Stimulates quantum improvement
  • Encourages creativity