Why Your Construction Company Needs a Benchmarking Analysis

Date June 25, 2019
Article Authors

Michael Kapics, CPA, CCIFP, and Construction Industry Group Leader for HBK CPAs & Consultants, would like to share the following article written by Kyle Melewski, CPA, which highlights several important recommendations illustrating why a benchmarking analysis is so advantageous for a construction company.

Why A Benchmarking Analysis is Key

Knowing where you stand in your marketplace and how your operational and revenue/growth performance compares to that of your associates vying for the same customers is key to remaining competitive. You want to know where you stand among your construction company peers and HBK CPAs & Consultants (HBK) can help you acquire this knowledge by performing a benchmarking analysis on your business.

What is a Benchmarking Analysis?

A benchmarking analysis is a specific type of market research that allows organizations to compare their existing performance against those of companies similar in scope and services. This enables construction company owners and operators to make improvements that complement their overall business approach and ultimately benefit the company’s profitability. The main objectives of a benchmarking analysis are to determine what improvements are necessary and where they are applicable, to scrutinize how successful competitors achieve their high performance levels, and to use the data gathered to improve efficiencies, operations, and the overall performance of the construction company undergoing the benchmarking study.

How We Work with You

We compare your company and its performance to other companies of similar size, geographic region and scope of service. We evaluate your company’s financial performance by comparing key performance indicators (KPIs) against those of your peer group, including: working capital, amount of backlog, return on equity and assets, and generated revenue. We help you determine the effectiveness of operational functions, such as billing, collection, labor force efficiency, and how you leverage debt. By drawing these comparisons, we are able to assess the overall productivity and profitability of your organization.

HBK serves more than 500 construction firms across the eastern U.S., consulting owners and operators on ways to improve top and bottom line performance. We use our knowledge and experience in benchmarking to provide our construction firm clients with a blueprint for improving their bottom line and support their efforts to grow, expand, and succeed in all aspects of business.

To learn more about obtaining a benchmarking analysis for your construction company, please contact Kyle Melewski at kmelewski@hbkcpa.com or HBK Construction Group Industry leader Michael Kapics at MKapics@hbkcpa.com.

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See Penguins Coach Mike Sullivan Talk Competitive Advantage, November 8th

Date October 26, 2017
Categories
Article Authors
HBK CPAs & Consultants

Join us at the Marriott City Center on November 8 for the first part of a three-part series, “On Goal,” featuring Pittsburgh Penguins Head Coach Mike Sullivan

What keeps the Penguins at the top of the NHL? What does it take to be a consistent winner in such a competitive environment? The same focus on strategy and development, the same competitive nature and determination it takes to be a winner in any business.

Keeping the Penguins at the top of their game, at their most competitive, is the job of Penguins Head Coach Mike Sullivan. On November 8, you can be one of 100 Pittsburgh businessmen and women to participate in the inaugural episode of On Goal, a three-part series on business excellence.

  • Meet Coach Sullivan and network with your peers in a pre-presentation happy hour.
  • Enjoy a dynamic presentation from Coach Sullivan on building and sustaining Competitive Advantage.
  • Interact with Coach Sullivan in a follow up Q&A session hosted by Penguins radio broadcast and PensTV host Josh Getzoff.

 

On Goal

Wednesday, November 8 at 4:30pm – 6:30pm at the Marriott City Center in downtown Pittsburgh – Featuring
Mike Sullivan, Head Coach of the Pittsburgh Penguins.

December – Penguins President and CEO, David Morehouse, who will speak about Brand Management.

January – Penguins Chief Operating Officer, Travis Williams, will speak about Customer Experience.

 

Speak to one of our professionals about your organizational needs

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