The Power of Benchmarking
At WK, we understand the true power of benchmarking. Benchmarking is the process of comparing your business against other similar businesses in your industry.
Benchmarking can be everything from comparing financial results to full strategy comparisons, and it allows you to assess your performance against those of your competitors. From here you can tweak strategies and operational plans to improve your performance.
This year, as we prepare your annual accounts, you will receive a Ranqx Benchmark report. We will discuss what the benchmarks mean for your business when we catch up. The Ranqx report is designed to be simple, and give you valuable, and easy to understand information.
At WK we know the true value of benchmarking data. This is why we have assisted Ranqx from day one on their product specifications and development, and why we are foundation shareholders.
And, we are about to take benchmarking to the next level!
WK and Practice Paradox founder, MC Carter, have set up an accounting industry Think Tank called Pow!Wow!, which will see seven of the top Australasian accounting firms coming together to share ideas and drive innovation. It is truly exciting for WK to be involved in driving this exciting initiative.
The seven firms involved include multiple Xero award winners like Growthwise, from Sydney, and Consolid8 from Brisbane, as well as Mindshop award winners like Advise in Bathurst. Not forgetting to mention WK, with both Xero and Mindshop awards!
Vaughan Harris and Neil Sinclair will represent WK at Pow!Wow! in Brisbane early next month. We know our involvement in Pow!Wow! will ensure that we continue to provide our clients with the very best advice to help them achieve their business goals for the years to come.
Watch this space for all the exciting new initiatives that will flow out of Pow!Wow!