Here at Bill Police, we live by Benchmarking. After all, as the saying goes: you get what you measure. BUT you have to know where to start measuring. Benchmarking not only allows you to take a snapshot of where you started but also allows easy comparison to measure success.
For instance, take a look at the below graphic from an actual client (not just one who plays a client on TV). This client is a major hospital/healthcare company in Virginia.
- The red line is our benchmarking line. It began at the point where the current client’s cost is before Bill Police began management. It is that’s the first benchmark and is the line which all actuals are compared.
- The blue bars are the actual costs. When measured against these benchmarks, it is easy to see progress and how Bill Police is doing for the client. Note that the blue bars have a continuing downward trend. That means measured costs are decreasing and that is a great thing, what we live for.
- THEN, Bill Police does one better: we renegotiate the benchmarks with our clients. (see the large drop in the red line – this is a renegotiated benchmark reduction). At this point, BP’s cost decreases to the client until BP does something big again to reduce the cost (re-optimize, negotiate carrier rates,etc.).
This graphic shows not only the value of benchmarking but the value of measuring actuals against the benchmark to gauge success and progress toward lower cost goals. So, use benchmarking: it works every time for a great measure of both performance and progress.
Still Protecting Your Wireless Rights,
Kae Zulager