This feature is available for Xero clients only. If you have any questions, please just let us know.
Using the Benchmarking insight, Precision can benchmark both Turnover and Expenses for your clients, within their region, industry, or all other clients, either against your own practice or across a wider Precision dataset.
Region and Industry are based on Companies House data cross-checked against GL data (using a degree of AI matching) to select the best fit.
Benchmarking requires a minimum number of clients to provide our insights, or you will see the warning ‘Not enough data for comparison. Try changing your filters.’. This minimum client requirement also applies to the filters for the number of clients within the same Region and Industry.
You can benchmark within your practice, or against a wider Precision dataset. When benchmarking a client against wider Precision data (not just your own practice) the information is displayed as a heat map, rather than data points.
Benchmarking data is presented graphically but we also provide statistics below the graph, e.g. “Demo Company’s expense is 40% higher than other businesses for its age.”