Benchmarking: Accounting and Finance

Accounting and Finance Benchmarking Consortium

The Accounting and Finance Benchmarking Consortium (AFBC™) is an association of accounting and finance professionals that conduct benchmarking studies to identify the best practices for accounting and finance that improve the overall operations of the members involved.

To identify "Best in Class" business processes, which, when implemented, will lead member companies to exceptional performance.

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  • A free subscription to the E-Benchmarking Newsletter
  • The opportunity to become involved in upcoming round table discussions
  • Information on sponsoring studies.
  • The privilege of being invited into ongoing studies
  • The ability to participate in benchmarking surveys

       

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This service is provided by The Benchmarking Network, Inc., an international resource for business process research and metrics. We lead studies with over 140,000 process leaders in over 65 countries. We provide benchmarking training and research to individual companies, professional and trade associations, and industry and process based groups. Since 1992, our over 300 benchmarking studies have spanned virtually all processes and industries to identify measures and collect data.

Our Benchmarking Methodology

Creating Benchmarking databases to support benchmarking efforts including;

  • Organizing taxonomies of over 240 business processes used for analytic purposes
  • Creating over 600 study maps and guides to structure benchmarking efforts
  • Developing industry standard databases of performance measures
  • Gathering company responses to specific measures into databases
  • Administering databases of over 140,000 process owners categorized by industry and process interest
  • Leading individual companies in benchmarking efforts by;
  • Defining high payoff areas for research topics
  • Conducting short Fasttrakk™ surveys (typically 2-4 weeks) and long (site visit) benchmarking efforts typically 4-5 months
  • Facilitating project teams in benchmarking efforts
  • Attracting top companies to join efforts
  • Measuring performance
  • Performing Gap analysis
  • Leading site visits to best practice companies
  • Compiling results and making recommendations for action
  • Providing implementation services

Project Steps

TBN will meet with your project team to more closely define the project scope and intent to define specific areas to cover in each study. Each study will contain these major activities:

  • Detailed project definition;
  • Survey formulation;
  • Participant solicitation;
  • Data gathering;
  • Data tabulation and analysis;
  • Site visits;
  • Project meetings/Status updates;
  • Final report preparation; and
  • Final report meeting.