Participants sought for financial benchmarking study

SC&RA members are encouraged to sign up for SC&RA's Ratio Analysis/Financial Benchmarking Study, which is designed to provide a "snapshot" of the specialized transportation, crane and rigging industry. Participants will be able to compare their company to others of similar size and type. The 2009 study will use data from 2008 financial statements.

In practical terms, the study will help you answer important questions, for example:

• Exactly how much more money could I be making if I managed my cost of goods as efficiently as my top-performing peers?
• How does my operating profit compare to others in my type of operation?
• What specific action plans can I put in place at my company to get my numbers in line with the profit leaders?
• How do my cash flow and liquidity levels compare to others?
• Exactly how much more cash would I have in the bank if I achieved improvements in this area?
• Am I making the most efficient use of my assets and equipment?
• Are my employees as productive as others in SC&RA?
• Are my staff costs in line?

Barbara Carper at Profit Soup, Inc. in Seattle, Washington, USA will compile the study. Carper conducted a similar study for SC&RA in 2007, as well as several others before that. She understands the industry and how to help members be more successful. All information remains confidential and is submitted directly to Profit Soup.

There is no cost to participate. All participating members will receive a free customised analysis of their financials.

Interested companies should e-mail Joel Dandrea at [email protected] with a request to participate. Surveys will be distributed to participating members by mid March 2009 and the study will be published by September 2009.