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Our competitive advantages in financial benchmarking are that we offer:
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A customizable program. Our program includes sector-specific reports and tools for users as well as industry sponsors. For each individual industry, CoopMetrics designs electronic tools as well as customized written reports for individual users and/or groups of users.
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Significant time savings for data submission. Once a common chart of accounts has been developed for a sector, we map each company’s current chart of accounts to the common chart. When a user submits data, it is a simple electronic upload of the trial balance and any other non-financial data required by the program – all of the data sorting and categorization is automated. This reduces what is often a laborious and time-consuming process into a simple and quick task. More time may be needed to collect and submit non-financial data.
- Timely and frequent comparisons. Our system’s design enables us to receive data, produce reports, and have reports available for users quickly. Many benchmarking systems offer annual comparisons and those are often available months after the end of the comparison year. Our users can begin analyzing their individual business trends within days of their submission and compare with their peers through group reporting as soon as enough participants have submitted data.
- Historical trends as well as current comparisons. These reports allow users to analyze what is happening within their own companies over time as well as against their group as a whole or a subset of the larger benchmarking group.
- An easy system for selecting peers. A user may select its own peer group for benchmarking. Variables for sorting peers are determined by the user group and may include geography, business size, types of products sold or markets served, competition, and so on.
- A strong emphasis on customer care. The customer care component helps users learn and use our benchmarking system to its full potential. This hands-on approach to customer care also helps us anticipate members’ needs and to continuously develop new tools and to revise existing tools in response to the changing needs of our users.
- Securely encrypted data. We use a customized security model that enables users to easily access the data while restricting external access. High grade encryption and periodic auditing of our infrastructure ensures that users have access to their data and reports, but no one else does.