Benchmarking: The Good and the Bad
In Forbes, Dave McGuire explains the good and the bad of benchmarking. To use benchmarking effectively, companies must consider their end goal. If the end goal is profitability, benchmarking must take that into consideration. If the goal is to reduce risk, it is more important for companies to understand their risk portfolio than to compare revenue between companies when assessing cyber insurance policies. As data analytics and artificial intelligence tools continue to grow, more benchmarking tools will become available. Businesses need to understand how to utilize these tools to grow bottom-line revenue.
David McGuire is a leading expert on cost segregation, fixed assets and depreciation law and a co-founder of McGuire Sponsel. McGuire continues to grow McGuire Sponsel’s national presence in cost segregation and depreciation.
He is the primary resource for alliance firms in regards to how tax law affects depreciation. His knowledge in determining asset costs and classifications has held up against IRS scrutiny and has built the firm into a trusted industry resource.