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Set up a centralized functional benchmarking center
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Proprietary & external benchmarks to support ~2,500 consultants globally
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Over 25,000 metrics for ~200 companies
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Covering 20 functions (HR, Finance, IT, etc.) across 10 sectors
CLIENT CHALLENGES
- A US-based Strategy Consulting Firm advising on sustainable cost structures
- Required to create a proprietary tool to bring together all functional benchmarks from different consulting projects into one platform
- In the existing setup, the firm followed a hard disk model, wherein benchmarks used in projects were maintained at different places by different practice areas, leading to the firm either missing out on valuable information or encountering delays in accessing the information
- Acuity Knowledge Partners partnered with the client to create and manage a central repository for functional benchmarks in the form of their Proprietary Benchmarking module
- Our experienced research team was roped in to build a Centralized Hub of Functional Benchmarks, serving Global Consultants
- Our team functioned as an extended arm of the client’s team by working in a highly interactive environment
OUR APPROACH
- Identified a single point of contact at Acuity Knowledge Partners to interact with respective client counterpart
- Structured and sanitized the existing benchmarks repository
- Aggregated with benchmarks maintained by different practice areas
- Created a Centralized Benchmarking Center and launched it across the client organization to support consultants seeking benchmarks during assignments
- Updated the existing benchmarks regularly with the addition of external benchmarks to further strengthen the center
IMPACT DELIVERED
- Acuity Knowledge Partners research team worked in a highly integrated manner
- The launch of the Centralized Benchmarking Center at Acuity Knowledge Partners provided the client’s consultants easy access to the existing benchmarks, which earlier had to be purchased or took longer to be fetched
- Research teams also involved technology experts to create an online module to fetch top level benchmarks, which further helped to improve turnaround and efficiency
- The engagement helped the client to focus on its strategic intent to drive its knowledge management initiative
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