By Suzy Strutner, managing editor at Grow Wire
In short:
- In the services industry, financial metrics -- like the ratio of revenue to FTEs -- are important markers of your company's overall health.
- And in any industry, one of the best ways to improve your business is to compare your performance to that of your peers.
- The chart below shows services industry benchmarks for key KPIs so you can compare your business’s financial prowess to others.
Ever wonder how many FTEs your fellow services companies require to manage their financials and IT? Analyzing their FTEs can be hugely helpful in refining your own hiring and management practices, making you more efficient overall.
The team behind Grow Wire routinely measures the financial health of services companies worldwide with help from Finlistics (opens in new tab), a sales insights company. Their recent research can help you analyze exactly how your business compares to others from a financials standpoint.
Take a look at your financials, then use the chart below to determine if you’re performing at a “Marginal,” “Competitive,” “Best In Class” or “Transformative” level.
If you want to improve your standing, then you may want to make some changes. Of course, reading stories on Grow Wire can help too.
Like what you see? Sign up for The Grow Wire Email Newsletter (opens in new tab).
