Australian label converters are being asked to enter a Benchmarking Programme, which aims tocompare their performance with others across the industry here and overseas and pinpoint areas for business improvement.
Funded by Latma and available free to all its members the programme will use leading business analyst Shawn Six to crunch the numbers, and is produced by US consultantcy Industry Insights.
Non-Latma members can also take part, a though there will be a subsidised fee for them.
Latma board member Frank Gavrilos, who is helping to coordinate the programme says all label printers should go through the process as it will help them to gain valuable information about their businesses, especially in comparison with others.
He says, “I have been a strong advocate of this programme for years. We do not get a chance to see this kind of data often and in this market, in this economy, the analysis will be invaluable to all business owners.
“It is an opportunity to take a good hard, honest, look at how we are operating compared to others.”
Latma says the survey will confidentially compare the ANZ industry’s results to overseas averages.
It aims to provide companies with a picture of where they sit against other businesses, in the local region and in different parts of the world.
Gavrilos says, “In this market, with the margins and price pressure and all the things we battle, financial management is probably more critical than ever.
“Big companies have an army of financial people to tell them where they are in the market, and where they could do better. Little companies like us do not have those kinds of resources, and that is why I am passionate about this survey.”
After the results are compiled each participant will receive a full package with their individual results, as well as a second package with comparisons to industry averages.
Gavrilos says, “The survey gives converters a tool to take a good close honest look at how they are performing, how they stack up compared to others of a similar size and across the industry. It gives you a chance to see how you are really doing and pinpoint areas to improve on.
“It is confidential and fully funded by Latma – it is free for members, all you have to do is input. The more people who participate, the stronger the data.”
Latma is currently distributing the surveys, and completed forms must be submitted by October 31.
Final results are due by December 1 this year, and Six has offered to go through the results with businesses to help them get the most out of the process.
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