The ROI of Benchmarking
The ROI of Benchmarking Return on Investment (ROI) is one of the most common and important measures of financial performance in the business world. It is the ultimate measure of success for any business. Most companies, business units, and departments track ROI on an ongoing basis, and use this metric not only to make intelligent business decisions, but to justify their very existence.
Like any good business decision, benchmarking should be undertaken with the expectation that it will produce a positive ROI. Thankfully, it is relatively easy to make the business case for benchmarking, and as a veteran of more than 4,000 IT service and support benchmarks, I have plenty of data to back that claim up. The ROI of benchmarking includes both hard benefits, such as cost savings and improved user productivity, as well as soft benefits such as improved customer satisfaction.