The Australian Benchmark Initiative was established in 2011 to build a set of Finance benchmarks, and facilitate the sharing of Finance better practice between Australian companies. Now entering its third year, it has quickly become the leading source of Finance benchmarks and better practice in Australia.
51 leading Australian companies have participated in the 2012 Australian Benchmark Initiative, and results have been published for:
Purchase to Pay - Receivables - Payroll - Budgeting & Forecasting
The 2012 Australian Benchmark Initiative's study focused on a number of key areas, to allow you to assess:
What does good look like?
How am I performing against my peers?
What are the attributes of a high performing function?
What is the optimal headcount for my team?
What should the cost of my function be?
What are the key trends?
The responses provided interesting trends and insights into the way Australian companies are performing, and where their future strategies lie.
The 2012 studies were published in February 2013.
Benchmark studies will be provided at no cost to organisations that participated in the study. For organisations that did not participate, but would like to have access to the results, they can purchase the 2012 studies of their choice here.
Many organisation's are looking to rapidly understand how they are performing against benchmark results and better practice process maturity. The Australian Benchmark Initiative offers both desktop assessments (questionnaire based) and accelerated assessment (interviews & workshops) based on the benchmark studies. These assist organisation's in rapidly identifying improvement opportunities to realise benefits. More information can be found here.
After a fantastic response from 34 of Australia's leading companies in 2011, 51 companies participated in 2012. The 2012 study built upon the success of the core transaction areas studied in 2011, and add one new area as follows:
Participation was by completing a questionnaire that included both quantitative and qualitative questions in relation to your business processes. All information provided was treated as confidential, and only shared with others at the aggregate level.
The Australian Benchmark Initiative is proudly sponsored by:
optim2 is a management consultancy focused solely on assessing and improving clients' Financial processes, operating models and structures. optim2 areas of expertise include:
> Finance assessment and transformation
> Finance process improvement and re-design
> Finance Shared Services
> Finance business partnering
optim2 has built an enviable client list, with a large number of ASX listed, multinational and private enterprise references.
For further information contact visit us at:
Chartered Magazine, in their March 2013 edition ran an article on the Australian Benchmark Initiative. That article can be downloaded here.