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Benchmarking is perhaps the most valuable tool for gaining a fact-based understanding of how the business is performing — not only in isolation, but also in comparison to similar firms. The combination of internal and external metrics provides a perspective that enables management to make optimal decisions. However, to get the maximum value from the benchmarking process, there are best practices that must drive the implementation of the initiative. The 10 best practices listed in this white paper provide a framework that will help firms maximise the benefits and deliver the game-changing capabilities that come from an effective benchmarking process. Benchmarking best practice:
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