Benchmarking

Benchmarking Service and Technology Contracts

Benchmarking Service and Technology Contracts

In a traditional benchmarking setting a customer can research a catalog number, part number or even model number of the item being purchased. The research can take place on a platform as simple to access as the internet, or as complex as 3rd party research organizations that allow a customer to view the most recent purchases within a specific industry. Using either methodology will yield results consistent with one single outcome: price comparison. Again, for a commodity this is a simple bellwether check to see if one is in fact “getting a good deal.”