Financial Benchmarking

Overview

Financial benchmarking is a great way for you to gauge how well your business customers are performing internally and in the industry as a whole to see if a business' performance meets expectations. The information gained from such a comparison allows you to determine how well your business customers perform in comparison with the “best” and, in turn, develop new and better strategies to work towards making improvements or adopting certain best practices.

How it Works?

Our first version of the business financials benchmarking is based on financial statements and financial ratios line items within the Accounting Data as a Service™ cohort. Each benchmark report will be based on the different "cohort”. In this first iteration, a cohort is defined as a unique combination of industry code (NAICs code), Age of Business, and Location. This info is derived from the business info supplied by the accounting service provider and augmented with accurate data points through our integration with UpLead.

The /financialBenchmarking endpoint gives Accounting Data as a Service's customers the ability to access the following financial benchmarks via our API and Dashboard:

• Balance Sheet
• Income Statement
• Cashflow Statement
• Financial Ratios

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See the Financial Benchmarking data model and API documentation for more details.