BENCHMARKING
Benchmarking remains one of the most effective ways of giving organisations the capability to identify and quantify areas for business improvement through comparison to their industry peers. However, the problem with traditional benchmarking is that it is resource intensive and the bulk of the effort is spent in gathering data about the past, rather than using the data to drive performance improvements for the future.
InsightNow's benchmarking solutions make data collection easier and less resource intensive, providing sophisticated analysis and reporting tools to enable our clients and partners to run cost-effective benchmark programmes - all from within the single environment of the InsightNow Benchmark Portal.
The key benefits of using our portal are:
- You have a robust end-to-end benchmarking system to fully automate every aspect of the process.
- You have control of benchmarking scope, questions, participation and time intervals.
- You are not constrained to rigid "rounds" with hard stop dates. Data from late participants can be amalgamated and analysed automatically by simply refreshing the data.
- You can run benchmarking assignments yourself or take advantage of our first class analytics and consultancy services. This will provide you with defined performance improvement programmes which are designed to "move the dials" and deliver significant results.
We have experience and extensive expertise of designing and running benchmarking programmes and one-off studies across multiple industry sectors and we operate benchmarking studies focussed on a variety of different business functions including:
- Service Operations
- Contact Centres
- Overall Customer Experience
- Strategy
- Outsourcing and partner/supplier management
Key Benchmarking Partners
Dimension Data
In conjunction with our partner Dimension Data, we support the most comprehensive and longstanding source of Contact Centre benchmarks, the Dimension Data Global Benchmark Report.
The annual Global Contact Centre Benchmarking Report is used by decision makers and managers in contact centres globally as the de facto industry standard for the management and development of their operations. With insight gained from contact centres in over 36 countries and the added benefit of historical data acquired since 1997, the report explores key topics and trends covering the entire scope of contact centre operations from performance, processes, organisation and technology to development strategy, financial and customer management. The report has been endorsed by ten international industry associations.
Navigant Consulting
For the past 8 years Navigant has provided a service to benchmark the customer facing operations of UK Life & Pensions Organisations and UK and Offshore Investment Management Companies. Over that period Navigant have benchmarked the majority of the leading life and investment management companies and have assembled a database that provides unparalleled insights into the comparative performance metrics and KPI’s of the industry. This database is used to track trends and provide peer group comparisons on a number of bases including operational strategies, outsourcing versus in-house and customer focus and simple volume products versus high value.
The Navigant benchmarking service, powered by InsightNow, is the only one of its type in the UK to focus on the operational customer facing processes conducted by providers. It provides comparisons in each industry across a number of key areas including:
- Productivity metrics on a transaction and customer basis
- Unit cost comparisons for all major processes
- Quality and complaints handling comparisons
- Internal rework levels
- End to end customer delivery standards and performance
- Performance of outsourced versus in-house operations
- Comparative measures on all key Contact Centre metrics
"Dimension Data has been producing the Global Contract Centre Benchmarking Report since 1997. In 2008 we made the decision to select a partner that could automate our approach to data collection and results publication. We were looking to reinvigorate the Report with on-line completion, analytics and results presentation. Our aim was to introduce the first interactive global benchmark portal for the contact centre industry.
We selected InsightNow because of their knowledge of the contact centre industry, a practical approach to consulting and research and the fact that their survey platform and analytics capability could be readily configured to meet our benchmarking needs.
The relationship has proved a great success and we have just released the 2010 version of the Global Contact Centre Benchmarking surveys which continues to evolve and improve to make it easier for participants to complete and view their results.
What sets InsightNow apart is their dedication, commitment and hard work, which is unrivalled in my experience.
Martin Dove
Managing Director
CIS Global – Dimension Data
For the past 7 years Navigant has provided a service to benchmark the customer facing operations of UK Life & Pension and UK and Offshore Investment Management Companies. In 2010 we made a commitment to transform the benchmark service with an ambition to improve the client ease of use, to extend the scope of outputs, to enable clients to interact with the database and to enhance the value that can be derived by way of interpretive analysis.
Following an RFQ process we selected InsightNow as our partners to deliver our new proposition. We selected them based on their technological capabilities, but perhaps more importantly, their complementary skills and experience in Benchmarking, Data Analysis and Customer Insight. We have formed a highly collaborative and professional partnership.We have developed a range of benchmarking and customer experience propositions that combine our core strengths with InsightNow's depth of experience and understanding of how to collect and structure customer feedback and then transform this into deep and actionable Insight. They can make a dramatic difference to customer service, employee engagement and costs in a very short period of time.
Andrew Stewart
Managing Director,
Financial Services
Navigant Consulting