Now, more than ever, you need to have your finger on the pulse of your business. You need to know not only how you’re doing, but how you compare to those in your industry.
Tribute's software for industrial distributors will help you determine the state of your business with a wide variety of tools and reports to give you the up-to-date information you need.
How can you rate yourself against the competition?
Many trade associations, like AHTD, FPDA, MCAA, NAHAD, NFPA, PTDA provide industry reports that provide a wealth of information that allows you to benchmark your organization against peers and keep on top of industry trends and forecasts.
The National Fluid Power Association (NFPA), The Motion & Control Network (FPDA) and the Association for High Technology Distribution (AHTD) offer several benchmarking reports, with one of the most informative being the Profit Report compiled by Profit Planning Group.
The Profit Report is an annual financial analysis of typical distributor performance in terms of sales growth, return on investment, gross margin, and additional comparative financial performance information. Participating members are provided an individual Company Productivity Report, which can be used to compare company profitability to the industry.
The NFPA also publishes an Annual Report on the US Fluid Power Industry, which reviews both the size and economic impact of the industry, as well as explores the energy consumption, best practices and current R&D directions of fluid power technology.
The Association for Hose & Accessories Distribution (NAHAD) in partnership with Cleveland Research Company, provides the Industry Trends Report, which gives a monthly snapshot of NAHAD member sales activity, new orders, market trends and business forecasts, as compiled from NAHAD member input on a simple, quick, completely confidential online survey.
The Power Transmission Distributor's Association (PTDA) publishes the PTDA Power Transmission & Motion Control Market Size Report, an exclusive survey of PTDA’s own membership to create a benchmark of the industry and provides data in 14 categories. They also provide a quarterly Market Forecast Report, delivering market trend information.
How are you doing in comparison to your peers?
Now is the time to analyze your business and compare it to similar organizations in your marketplace to determine the steps needed to make it more competitive and profitable.
TrulinX software by Tribute, Inc. can help you run your industrial distribution business efficiently and track your performance, ensuring you are profitable and responsive in this tough market.