Small businesses such as bookstores, fabric retailers and auto accessory retailers share a common goal - they have a distinct need for sound advice to help their businesses grow.
Failure to receive such advice could result in a company growing too quickly or failing to grow at all. In fact, 30 per cent of businesses are considered unsuccessful in their first year of operation and a further 10 per cent are considered unsuccessful over five years*.
Taking on a business adviser can be costly, but thanks to a new integrated benchmarking tool from CCH and software developer Acclipse, companies can obtain sophisticated data through their accountants that will help grow their businesses successfully.
CCH Benchmarking allows accountants to secure customised and real-time benchmarking comparisons for clients from hundreds of industries, based on the ANZSIC codes. This allows firms to provide detailed analysis and reports for clients in need of business performance reviews, as well as those seeking to buy or start a small business.
"This is a very sophisticated application," said Sharon Bennett, Managing Director of CCH Australia Publishing. "We hold the exclusive rights to distribute this first-to-market application which could have a significant impact on a company's growth and profitability."
The system, designed to support all mainstream general ledger packages draws upon the benchmarking database built up over 20 years by CCH's Armidale operation (previously FMRC Benchmarking Team Pty Ltd). CCH chose to work with Acclipse on the project due to its intimate knowledge of accounting systems and accountants' workflows. (The developers were also the architects of CA systems - bought out by MYOB in 2000).
Ian Brown, General Manager of CCH Benchmarking has been working with Acclipse developers to ensure that the integrity of analysis remains under the automated system. "Users will continue to receive the same high quality analysis with added advantages of real-time data updates and a significantly larger data repository than any other benchmarking provider". Says Brown. "This application builds on our extensive industry knowledge and data screening process, by making the data entry process much simpler. This makes it more achievable for accountants to benchmark more of their clients, in a low-cost way".
The new software is currently being rolled out to all CCH Benchmarking customers and is now available for purchase.
Notes to Editors:
* Australian Bureau of Statistics, Catalogue No 8127.0
About CCH Australia
CCH Australia Limited is a subsidiary of Wolters Kluwer, a leading global publishing organisation. CCH Australia is the market leader in publishing for professional and academic markets and specialist fields. Our range of products and services include tax, accounting, company law, finance, superannuation, legal, occupational health and safety, human resources and training.
Acclipse Limited is a private company, a business developer that works to develop and grow innovative technology companies and products. Acclipse is the majority shareholder in a number of technology companies. A core executive team in Acclipse provide the management and services required to grow the businesses invested in. Acclipse invests in companies developing breakthrough technologies and business models that redefine the economics of an existing industry or create a new industry favouring the client or customer.