Great News! After several months in development, the NECA Financial Benchmarker is now ready to provide electrical contractors with more timely and accurate financial information. Check out this powerful new online resource at financialbenchmarker.com/necabenchmarker.
Last summer, NECA secured a partnership agreement with the Construction Financial Management Association (CFMA) to develop an interactive online tool for evaluating an electrical contracting company’s financial performance. It would be built upon CFMA's proprietary Construction Financial Benchmarker and Financial Survey tools but restructured for the exclusive presentation of electrical contractors' financials.
The first step was capturing a significant amount of accurate and timely data to enable us to develop reliable benchmarks for our industry, and the various segments it comprises, against which electrical contractors can measure their own financial performance and make knowledgeable decisions. So, NECA and CFMA jointly created a confidential survey asking NECA-member contractors to supply information from their current balance sheets and P&L statement financials.
The initial database for the NECA Financial Benchmarker was derived from those survey responses, and we thank all the NECA members who participated. Fresh data will be gathered as new users enter their financial information into the system, but only aggregate data is disclosed in the statistical reports and other analyses that the NECA Financial Benchmarker generates, so confidentiality is maintained.
But, What IS the NECA Financial Benchmarker?
It’s benchmarking that’s online, on demand, and on point! Specifically, it’s a NECA-branded microsite for electrical contractors, providing you with a convenient option to both input your financial information and create reports with financial comparison data for other electrical contractors in your region or by revenue size.
The NECA Financial Benchmarker can save you hours of analysis with an interactive, side-by-side comparison of your financials versus industry benchmarks. This interactive tool can be accessed from any computer with an Internet connection to gather endless amounts of data and produce:
• Flexible, reliable, and immediate financial reports and in-depth analysis
• Key financial measurements so you can benchmark and evaluate your company’s performance
• Comparative charts and graphs perfect for high-powered presentations (e.g., your company’s net income as a percentage of revenue; your company’s days in A/R or A/P, or your company’s performance compared to Best in Class contractors)
Just ask yourself:
Do you need to make a good impression on bankers, sureties, and board members with reliable reports and real-time presentation comparisons?
Do you need your accountant, investment service, or legal advisor to have a better understanding of your company’s financial performance in comparison with industry benchmarks?
Do you need to know if your company's net income as a percentage of revenue performs well for the industry?
Do you need to know how well the sub or joint venture partner you’re prequalifying compares to others?
Then, you need to unlock the power of NECA Benchmarker’s immediate access to financial reports and analysis, as well as comparative charts and graphs! Pricing for the NECA Financial Benchmarker is personalized for you and your usage needs, starting as low as $39 per report. Whether you need to run four reports or more than 100 reports, the Benchmarker has the data that details the industry, at your fingertips, NOW!
For more information, go to financialbenchmarker.com/necabenchmarker. Any questions? Contact MEI Executive Director Greg Mankevich (firstname.lastname@example.org; 301-215-4550).