Understanding Benchmarks

When benchmarking statistical and ratio data is available to benchmark client businesses, access to this data is available without having to re-key this information in more than once. For example, your firm may have 30 restaurant clients all doing different volumes of business and if making the benchmarking data available on a repetitive basis is desired, you would not want to have to key in the same data 30 times over. This procedure is time consuming and prone to human keying errors, which could lead one to question the integrity and veracity of the data.

 

Score's benchmarking database takes data capturing and data mining to a whole new level of ease. By keying statistical information and ratio data in once, it can easily be imported into client files over and over again.

 

To access these individual benchmarking modules, open the Caseware file named "JZBM". Under the "Industry Benchmark" folder on the document manager there is a list of Benchmark modules. "Double click" on any benchmark module to open it to key in benchmark data. 

 

There is one industry sample benchmark template and ninety-nine blank industry benchmark templates included for your firm’s use. We would suggest to review your client listing and compile a listing of common types of businesses. (For example: restaurant, physicians and lawyers etc.) Once completed, identify which industries require to be set up and include in your Score firm-benchmarking database.

 

Within each of these industry-benchmarking templates, there are 10 free format columns allowing to key in the ratio information.