Benchmarking involves a business analysis process that identifies the performance of some key indicators in comparison to other businesses. The analysis process helps to realise opportunities for driving improved business performance and better industry outcomes.
Farming businesses get enormous benefit from benchmarking through simplicity of data presentation and the ability to answer the important questions for managing your farm.
At an industry level, benchmarking can highlight key impacts occurring on farms. It can facilitate meaningful practice change by helping industry to focus on the key performance indicators.
RMCG has developed the BizCheck method, from economic and financial farm surveys carried out over a range of agricultural and horticultural industries. Data collection is based on annual financial statements and physical farm information. This information is combined to provide performance indicators that anyone can use. It has been applied over many years to vegetables and onions, avocados, citrus, wine grapes, pome and stone fruit, grains, pork, dairy, rice and a range of other enterprises.
RMCG has a long history of providing benchmarking services for industry benchmarking projects, private farm clients, and hosting groups of like-minded farmers. Our services focus on confidentiality, and we recognise the sensitivities of our client’s information.