Benchmarking allows you to track average
and lowest net prices and seasonal trends,
monitor your purchasing performance and
most importantly – measure the
competitiveness of your purchasing
How it works
Collecting price data
Quenelles updates its database on a daily basis, which means we can produce a 'snapshot' of nearly 50,000 average net prices at any given time.
These prices are collated from copies of actual invoices supplied in confidence by a nationwide network of participating food buyers representing every branch of the catering industry. Information about each product line is entered into our state-of-the-art price capture and recording system by experienced data input clerks to form the basis of all our benchmarking.
Ensuring transparency
The accuracy of any form of benchmarking requires as much core detail as possible to produce a quality result – which is why Quenelles extracts actual invoice data to provide a complete audit trail: everything from supplier names and invoice dates to product codes and descriptions, pack sizes and weights, as well as prices, discounts and volumes.
Furthermore, the price of each individual product is cross-referenced against our extensive database to ensure all comparisons are made on a like-for-like basis.
By updating the database each day we ensure that it always reflects current market prices. It also means that clients who opt for regular benchmarking reports can track price trends and movements, both positive and negative, more consistently and effectively.
How we present the data
After the data is processed it is made available in a variety of report formats, each of which can be tailored to a client's individual needs (to cover a specific range of dates, for example).
Our data processing is so finely tuned that we can provide benchmark data based on client-specific business groups as well as national or regional locations. And because we record both the average and the lowest price of every product we provide two sets of comparisons within each report.
Benchmarking in practice
By comparing the prices paid against the average and lowest prices recorded on the Quenelles database our clients can see at a glance if their purchasing decisions are satisfactory.