What is Benchmarking?

Benchmarking is the process of comparing a business’s performance against peers, industry standards, or other entities within a group. It helps answer essential questions like:

• How are we performing compared to others in our industry?
• Where are we over or under-performing?
• What best practices could we adopt from top performers?

For advisors, benchmarking provides a framework to guide strategic discussions and set realistic, data-backed goals.

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How can you leverage benchmarking?

When it comes to benchmarking at scale, Spotlight Multi gives advisors the power to compare performance across multiple entities, industries, and timeframes, all in one place. An aggregated report, including financial and non-financial KPIs, will provide a good overview of the performance of the group of entities, but the real magic starts when you look at what’s happening with individual entities, and how each is performing in comparison with the rest. This is called benchmarking. When you can see different entities side by side with visual charts, you'll begin to gain a better understanding of how they compare and can be improved. With Spotlight Multi, benchmarking across like-for-like entities is easy.

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Boosting performance and sharing insights

Some entities will inevitably be more successful than others across different performance metrics. Identifying high performers can improve the success of other branches by allowing the sharing of insights and strategies across the group, effectively boosting performance overall. Spotlight Multi's aggregation and benchmarking tools enable you to anonymise entity data, allowing the entire group to see how they’re tracking against other entities without revealing individual identities. This gives everyone a chance to see their strengths and weaknesses in comparison with their peers and identify opportunities for improvement. It’s a proven way to spark inspiration and collaboration.

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Benchmarking is a superpower

As an advisor, your value lies not just in reporting the numbers, but by interpreting them in context. Benchmarking brings that context to life and with Spotlight Multi, you’re equipped with a powerful, flexible platform that turns raw numbers into real insight to drive better business outcomes—for every client, in every sector.

Whether you're working with five or 500 entities, Spotlight Multi has been designed for Industry Specialist Accountants, Franchise Systems, and Networks that need to aggregate financial and non-financial information seamlessly, benchmark against KPIs, compare and rank, visualise and share. 

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Find out more at www.spotlightreporting.com/multi