Monday, October 11, 2010


CoopMetrics is a nifty service for benchmarking a cooperative against its peers, and finding ways to improve. By pooling and comparing financial data cooperatives in a particular sector can find out what works, what doesn't, and good ideas spread faster.
  • Details on the process: In summary, a co-op's accounts are mapped onto a standardized chart of accounts, quarterly trial balances are uploaded, and CoopMetrics crunches the data to provide various reports and comparisons. There are videos that give a sense of the steps involved.
  • History: CoopMetrics traces its lineage back to 1996, with the CoCoFiSt ("Common Cooperative Financial Statements") program developed by Walden Swanson and Kate Sumberg.
This is a great example of organizations gaining an advantage by pooling information, and extracting insight that would otherwise be elusive.

Hat tip: Jim Johnson

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