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Benchmarking - 6 advantages of FrachtPilot compared to the industry
Katharina Rösner
benchmarking on the basis of turnover and Returns on Investment (ROI) Can help, the To measure performance and Potential for improvement to point out. An important benchmark is customer satisfaction, which can be found at various KPIs (Key Performance Indicators) Can determine the number of existing customers, but also the frequency and quantity of orders. ERP software On the one hand, it can be a success catalyst, on the other hand, it also evaluates the various KPIs that contribute to success. We'll show you a use case from Freight pilot.
benchmarking Is the comparison of a company within the industry or between different departments, which is carried out on the basis of relevant standards, the so-called benchmarks. The aim is to identify and close gaps for improvement and highlight best practices. Benchmarks can varies depending on the sector be.
The measures you want to implement can be learned from the competition: What might make them better? In terms of a software company, this can the Implementation of industry-specific features be. For regional direct marketers as software users, on the other hand, this can be the Investing in ERP software be. More You can find case studies at FasterCapital.
that benchmarking Is divided into 5 phases. In the Objective setting phase It is determined which products, processes or key figures are to be compared. In the Comparative phase It is determined which competitor should be used for comparison, i.e. as a benchmarking partner. That is when the Data collection phase, in which the relevant data is collected. From this data, it is then identified where there is potential for improvement, from which Measures derived become. Last but not least, these will Best practices then implemented. Read more about this at Karrierebibel.
During KPIs, the key performance indicators, the Performance measurable in terms of goal achievement Do, do benchmarks as Comparative standards It is possible to compare internal departments or with other companies in the sector. Customer satisfaction, for example, is a key benchmark. This is measured by KPIs such as the number of existing customers or sales.
Sales increase, productivity, and customer satisfaction are important benchmarking indicators. Even the Return on Investment is an important benchmark because it assesses how worthwhile the investment in your ERP system was, for example. How you calculate it We described the break-even point in the blog. You can then use the percentage as a benchmark for industry or competitive benchmarking.
What does ERP software like Freight pilot Now to do with the benchmarks? A customer who uses FreightPilot, has competitive advantages over competitors who do not use (industry-specific) ERP software, as business processes become more efficient. With the help of the software, important Data evaluated become:
Efficiency and automation also reduce costs. IIn our last article, we also noticedthat the Investing in the ERP system pays off after just 2 months and the ROI as a benchmark is correspondingly high. On the one hand, the use of ERP software is an important factor for increasing sales. On the other hand, KPIs, which contribute to increasing sales as automated business processes, can be observed and evaluated with the software. With FrachtPilot, you can have all the data that the software collects evaluated. In this way, potential for improvement is identified and implemented.
Another Key Performance Indicator are the storage costs. In order to save resources, the warehousing is as efficient as possible. With the ERP system inventory management Do you have the best overview of it. Warehousing should be as efficient as possible to keep storage costs low. Products that have been in storage for a long time indicate low demand. A high inventory turnover indicates that the products reach customers quickly. This makes warehousing efficient and increases sales.
An important logistics KPI is also shipment, which is characterized by flexibility, speed and Efficiency of delivery routes distinguishes. This ensures customer satisfaction, which is reflected in high sales quotas and order volumes. You can also read more in our blog about optimized delivery routes.
For the agricultural direct marketing for example, it is possible or usual to exchange ideas within the framework from industry networks or associations in order to be able to identify industry standards. You can learn best practices related to marketing or the online shop from the competition, which social media and other search platforms can help with.
Benchmarking provides an overview of the competition with which you are comparing yourself. Internal benchmarking can help to take measures to optimize business processes in order to be able to compete better. ERP software is also a KPI and can evaluate other KPIs in order to be able to evaluate their efficiency. Which benchmarks, or comparative standards, should be used may differ from sector to sector. ROI is an important indicator as well as customer satisfaction and productivity.
If you're still looking for a ERP software that meets these criteria, take a look at FrachtPilot ;) You can test the ERP system for free or a book a free webinar to get to know us and FrachtPilot. Also keep yourself up to date with our Instagram channel ;) We're looking forward to seeing you!
