What is a Competitor Benchmark Analysis Report?
Competitor benchmark reports are considered comparative analysis tools and are often used by CFOs, executives and analysts to measure internal company performance versus that of other companies. Some of the key functionality in this type of KPI benchmark report is that it is based on available data from competitors. Often, this is data from a web-site like Yahoo Finance or a government web-site like Edgar. The example consists of eight charts, each one displaying the trend for a specific metric for the past eight quarters. The metrics include Current Ratio, Return on Assets, Return on Equity, Profit Margin, Gross Margin, Debt to Equity, Revenue and Revenue Growth. Each chart shows data for your own company as well as the other companies selected when the report was executed.. You find an example of this type of KPI benchmark report below.
Purpose of Competitor Benchmarking Reports
Companies and organizations use Competitor Benchmarking Reports to supplement internal variance analysis with external comparisons to ensure that the business also measured against the performance of specific external companies. When used as part of good business practices in a Financial Planning & Analysis (FP&A) and Executive department, a company can improve its strategies as well as reduce the chances that it falls behind other companies in the industry.
Competitor Benchmarking Report Example
Here is an example of a Competitor Benchmark Report with comparison to selected companies.
You can find hundreds of additional examples here
Who Uses This Type of KPI benchmark report?
The typical users of this type of KPI benchmark report are: CFOs, executives, board members, and analysts.
Other KPI benchmark reports Often Used in Conjunction with Competitor Benchmarking Reports
Progressive Financial Planning & Analysis (FP&A) and Executive Departments sometimes use several different Competitor Benchmarking Reports, along with benchmarking dashboards, comparative variance reports, KPI reports, strategy summaries and other management and control tools.
Where Does the Data for Analysis Originate From?
The Actual (historical transactions) data typically comes from data services and manual entry from web-sites like Yahoo Finance and Edgar, as well as internal data from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.
In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards?
Examples of business software used with the data and ERPs mentioned above are:
- Native ERP report writers and query tools
- Spreadsheets (for example Microsoft Excel)
- Corporate Performance Management (CPM) tools (for example Solver)
- Dashboards (for example Microsoft Power BI and Tableau)
Corporate Performance Management (CPM) Cloud Solutions and More Examples
- View 100’s of reporting, consolidations, planning, budgeting, forecasting and dashboard examples here
- See how reports are designed in a modern report writer using a cloud-connected Excel add-in writer
- Discover how the Solver CPM solution delivers financial and operational reporting
- Discover how the Solver CPM solution delivers planning, budgeting and forecasting
- Watch demo videos of reporting, planning and dashboards