A global economic downturn, pressure on cash flow, and increased competition are driving even the most elite companies to seek out ways to work smarter. Benchmarking and best practices research firm APQC reports that consumption and use of its process and performance improvement research findings and content have increased by more than 20 percent in the past year.
In response, APQC has launched a new membership model that includes an online portal to help organizations access relevant information quickly in financial management, human resources, supply chain, and knowledge management. The structure and tools enable organizations to assess their performance, find benchmarks and best practices, and connect with peers worldwide.
"More than ever, people are seeking out ways to work faster and smarter," says Carla O'Dell, president of APQC. "In our over-30-year history, we've never seen such a demand for benchmarks, best practices, and tools to help organizations improve." O'Dell cites increased pressure on margins, tightened budgets, and a smaller work force as driving forces behind the unprecedented demand.
APQC's new member model is more value-driven as members can opt to pay only for access to content and expertise in specific functional areas.
As part of the membership launch, APQC is introducing a number of self-service assessments and benchmarking tools that help pinpoint areas for improvement and benchmarks to aid in decision making. The online, automated tools leverage APQC's Open Standards Benchmarking database of performance metrics, reportedly the largest of its kind in the world.
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