This past week, TSIA completed its first benchmark review in our recently launched Education Services discipline. In general, organizations like to benchmark both practices and results to better understand actual performance and the potential for improvement. Benchmarking is the first step in a continuous process to optimize services performance. The discipline of benchmarking practices and results provides three distinct business advantages:
- Prioritize goals and initiatives. By understanding where current performance severely lags potential performance, management can identify and fund initiatives designed to close these specific gaps.
- Monitor improvement. Periodic benchmarking provides objective standards by which to measure performance improvement.
- Understand impact. Finally, the benefits of specific initiatives can be measured against the improvement made on specific results. What practice changes actually drove improvements in business results? Understanding this correlation drives wiser investments.
The TSIA Education Services benchmark provides detailed insight on the common practices that exist in the industry and what current performance is being achieved on key results such as:
- Margins on types of course offerings
- Profitability of Education Service businesses
- Attach rates for education service offerings when products are sold
- Average size of education service deals
- % of ES revenues spent on content development
The benchmark culminates in a dashboard reading modeled off the TSIA Services Dashboard:
We are very excited to offer this new, unique dataset for embedded education service organizations. If you would like more information on ES benchmarking, please contact Maria Manning Chapman at email@example.com
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