Benchmarking

Knowing how you are doing

It’s often difficult to understand how your business is performing when you have no yardstick against which to measure it. But yet, because we are so frequently out to market we have a very good understanding of what represents value in the many markets in which we buy. We never release any confidential data on our client’s pricing, but we frequently give benchmark feedback that our clients find highly useful and relevant.

Benchmarking

We can provide a wide variety of benchmark information. Most of our clients like to focus on the benchmarking of price, but we have a wide variety of other metrics available which include areas like vendor volumes, invoice and payment volumes – we even have the capability to benchmark your purchase to pay process against best in class organisations.

On price, our approach is “traffic light” based. We take pricing data from you on a line by line level, and qualify the data carefully to ensure that we have a full understanding of specification, pack size and delivery requirements. We then evaluate each product against our database, establishing a fair market price for each line. We then feed this back using a red/amber/green matrix – quickly and easily guiding you to areas which need specific attention.

Why use Prestige Purchasing to benchmark your business?

• It’s a low cost, quick and effective way of squeezing more value from your contracts
• It’s 100% confidential

Case study

Read how we helped Debenhams Food Services re-negotiate their food prices.