You are a continuous improvement organization. You keep your customers by staying a step ahead of the competition. CoMetrics is also a continuous improvement organization. CoMetrics recently launched a new version of their website with several valuable improvements for us. Go check them out by logging in here: https://secure.cometrics.com/. If you do not have a username or forgot it, just let me or CoMetrics know.
We are very fortunate to have CoMetrics as our partner for our annual benchmarking program: Distributor Performance Dashboards or DPD. Each year CoMetrics will apply suggestions or add a couple of ratios that have been recommended by the outstanding members of your Analytics and Business Intelligence Council. To get ready for the 2020 performance data, CoMetrics has already provided several upgrades to the presentation of your benchmarking data.
Distributors see how they are doing versus others with the CoScore page. Since we partnered with Cometrics I have heard many HARDI distributors tell me how much they appreciate this view. Each year I have received calls from members eager to see their new CoScore. This diagram is now available for download to share with your teammates as a CSV or image file. Coming soon: you will be able to download as a PDF as well.
The Benchmarking page is where participants can easily see where they are leading or lagging the sample set with color coding and dollar gap or opportunity. This page is now easier to navigate with collapsible categories that have been rearranged for better expense grouping.
Click on any metric and you’ll see a new and improved chart slide out from the right of your screen that allows you to compare your history to benchmarks from the group.
Speaking of history, one of the many great features of the CoMetrics platform is that the historic data persists. New participants as well as all returning participants have access to the benchmarks since 2013. This allows you to see how your specific operating stats are evolving for early insight into an operating trend. Another wonderful feature of the CoMetrics platform is the ability to upload historic surveys if you would like that additional insight into your performance.
Coming soon in 2021, CoMerics will be rolling out a new hover-over feature to answer those metric definition questions: what’s Inventory Turns and Earns, again? How do you calculate it?
The annual benchmarking program is a distributor member benefit. It is available to you at no additional charge in exchange for your participation. That irritating coach from high school was right in this instance when he said, “if you are not getting better than you are getting worse.” We encourage past participants to login to see the updated presentation, and upload a past survey or two during the slower winter months. HARDI distributors yet to participate can attain some process experience along with the valuable insight by uploading a 2019 survey. Please contact me if you would like to begin a 2019 survey, would like me to remind you when the 2020 operating surveys are available, or have any questions about participating in this wonderful program. Roughly 100 distributors participate each year. Let’s talk about how DPD can help you achieve your objectives.
If you have any questions, or would like to suggest a featured topic for next month's DDN, contact Brian Loftus at email@example.com.