CEDIA has added new benefits for participants in the annual Benchmarking Survey.
The CEDIA Benchmarking Survey evaluates the state of CEDIA member electronic systems contractor (ESC) businesses and provides external references and best practices that help ESCs evaluate and improve their business operations.
This year, Benchmarking participants will receive a free customized report that compares their company against companies of similar size, the industry median, and the most profitable industry companies. In addition, each customized report will include suggested action items for building business and increasing profitability.
CEDIA has also made it easier for participating companies to submit their information for analysis. Companies may submit one of the following to participate: an online or printed questionnaire, a Microsoft Excel spreadsheet, or submission of financial statements.
“The additional participant benefits offer tremendous value to our electronic systems contractor (ESC) members, if they sought out a consultant to generate a custom report of this nature it would cost between $1,500 and $2,500,” said Erica Shonkwiler, CEDIA market research manager. “As a CEDIA member, they receive this custom report free of charge just for participating. The custom report will allow participants to clearly understand how they may improve and strengthen their business.”
Additional participation benefits include: access to the CEDIA EXPO 2012 Benchmarking course, access to the Benchmarking webinar, and a 10 percent discount off 2013 CEDIA membership dues. Companies that participate in the survey over multiple years will receive an additional customized trend report.
Data collected in the process analyzes company information in various categories such as strategic and business planning, financial performance and management, operations, and staffing and compensation.
To participate, a company must be an active CEDIA electronic systems contractor member located in the U.S. or Canada. Companies must complete the entire survey to receive a customized report. The survey is open Monday, April 2 – Friday, May 18.
Profit Planning Group, an independent consulting services firm, will conduct all facets of the survey. CEDIA staff and leadership will not have access to individual company information at any time, and will receive only a summary of the findings. Survey findings will not include company names or any information that could be used to identify participants. Customized reports will be mailed directly from Profit Planning Group.