Your financial statements provide you with valuable information on how well your company is performing. But the numbers on your financial statements and your financial ratios only tell one side of the story - yours.
Even though you might be making a profit, you will not know if you are really doing well unless you compare or benchmark your financial data against the competition. Doing so will identify your strengths and weakness, areas to focus on, and opportunities for improvement.
Benchmarking your company's financial performance against similar companies in your industry and geographic region is important to fully understand where you are compared to where you should or could be. McCarthy & Company's professionals will benchmark your financial ratios and asses your performance based on key performance indicators (KPIs):
to determine how well you are actually doing compared to industry standards and fully explain what the numbers mean. We will then help you develop a plan to optimize your performance.
Benchmarking is also important if you are thinking about buying a company. We can measure the past performance of the business to see how it performed against industry averages. Having this information will make it easier for you to decide if the business is a good investment and the purchase price is reasonable.
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