Posted By: Bala
Innovation Minds benchmarking service helps you identify potential improvement opportunities by comparing detailed financial and operational performance metrics against your industry peers and leading practices.
Leverage our proprietary benchmark database to better understand your current-state financial performance and to provide an enhanced ability to identify, prioritize, and monitor organizational effectiveness and cost improvement initiatives. We put benchmarks in context by collecting case studies from your peer companies. This helps you determine the magnitude of the potential change and create practical recommendations for focus and improvement.
What and how we assess Corporate Finance functions?
How the scores are calculated by our assessment?
The above exercise is pretty quick. It can be completed by any stakeholder in about 15-30 minutes, and results in a visual way to represent where one’s Innovation Program technology sits in comparison to industry benchmarks. Additionally, it can be completed by multiple individuals within an organization to calibrate a mutual understanding between their collective Innovation Program departments and/or other internal stakeholders. Maturity (scale of 1 to 10) is explained below.
- Just realized – Process not in place, however there is a realization of the need.
- Initial (chaotic, ad hoc, individual heroics) – the starting point for use of a new or undocumented repeat process.
- Repeatable – the process is at least documented sufficiently such that repeating the same steps may be attempted.
- Defined – the process is defined/confirmed as a standard business process.
- Capable – the process is quantitatively managed in accordance with agreed-upon metrics.
- Efficient – process management includes deliberate process optimization/improvement.
- Innovator – Started challenging status-quo and incremental innovation started at the edges.
- Disruptor – Tangible impact of the innovation has been proven, started institutionalizing the sustainable.
- Market leader – You are nailing it.
- World class – The true north of all.
And the final Report is:
** Blue bar represents Innovation Minds benchmark baselined from 25+ companies we worked with, and the black line represents where you may stand.