The Benchmarks tab in LivePlan offers averaged financial data, collected from U.S. companies across a wide range of industries. You can search for your industry and region of the U.S., and see metrics showing how companies similar to yours have performed in the past.
These metrics can help you compare your own forecast against the actual performance of similar companies. Industry benchmarks can tell you whether you are matching the profit margins of your peers, keeping too much inventory on hand, or getting paid faster or slower than others.
Note: LivePlan's Benchmark data is U.S. data. We continue to search for international sources of benchmark data, but as of yet have not found any with large enough data sets to be helpful for our customers. if you are outside the U.S., we recommend searching for your industry and then using the data for the entire U.S. as a point of comparison to your forecast.
To see the Benchmarks tab in action, watch this short video:
The articles below will show you how to search for and view benchmarks data for your industry: