Competitor benchmarking with LSP-BEST®
In March 2014, Linqua (international Swiss Association of Quality Language Services) and LinquaCert (Swiss Certification Entity) created a benchmark system for language service providers (LSP).
A comparison of language providers is difficult. There is little relevant information available apart from balance sheet totals from the previous year. Even if this information is available, it is unclear how these results were obtained.
The basic concept behind LSP-BEST® is to provide regular, cross-industry benchmarks. For every key figure defined in the benchmark system, the TOP3 companies are determined quarterly among all participants. In addition to financial success variables, the success factors are presented in the dimensions for customers, processes and employees. This means that cause/effect chains will become transparent and result in better financial results with the LSP Service.
- Based on the competitor data, realistic mid-term and short-term goals can be defined for one’s own company.
- This process-oriented perspective can also provide additional stimuli for specific improvement measures.
- Particularly for companies with different areas of specialization, the unique opportunity arises to share process-related knowledge.
- This allows benchmark participants to gain an advantage on the market quicker.