Meaning ● Competitive Benchmarking, for SMBs, is the systematic process of identifying, analyzing, and adapting superior strategies, processes, or products from industry leaders or direct competitors to enhance performance and achieve sustainable growth. It’s a critical tool for informed decision-making, ensuring resource allocation aligns with proven methods. ● Specifically in automation, competitive benchmarking helps SMBs understand which technological implementations are most effective in comparable businesses, potentially streamlining operations and reducing costs.
