Label converters are invited to enter a Benchmarking Programme to compare their performance with others across the industry and pinpoint areas for improvement. The survey is a chance for converters to gather valuable information about their business, says Latma board member Frank Gavrilos, who is helping to coordinate the programme. 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.

Frank Gavrilos

“It is an opportunity to take a good hard, honest, look at how we are operating compared to others.” The survey is back after a one-year hiatus, after members contacted the board calling for its return. With analyst Shawn Six at the helm, US consultant Industry Insights will analyse the 2013-14 financial results for converters across Australia and New Zealand who choose to take part. 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 tells APP, “In this market, with 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.

Shawn Six

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.” The survey is free for Latma members, with the association’s board throwing in the funding. Gavrilos says non-members can also take part, though a subsidy will be involved. 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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