Iris launches benchmarking tool for firms
Benchmarking tool could provide accountants with new revenue stream
Iris has launched a benchmarking tool that will enable practices to provide
clients with more analysis and advice on their business’ performance by
comparing it with others in their sector.
Developed in conjunction with accounting network AVN, the tool could open up
additional consulting work, as accountants use the tool to help clients with
their business development plans.
Information on 11,000 businesses, held in a central database by Iris, allow a
client to be compared to about 100 metrics across 19 areas, including:
productivity, profitability, sales effectiveness, asset management, leverage and
return on investment.
Steve Pipe, founder of AVN, said: ‘Benchmarking provides accountants with a
very profitable new revenue opportunity and it is something that both the
profession and clients have been crying out for, for years.’