The technique of “Benchmarking” is sometimes used in the Requirements gathering process. You compare your company’s processes and performance metrics to industry best practices from other companies. The knowledge uncovered in these investigations can be used in process improvement initiatives or to solve thorny problems you encounter on your project. I have managed many projects where a typical question in a meeting is “What does Company X do in this case?”. “Company X” is typically the main competition for your company and is usually recognized as an industry leader in the area under study. You may or may not get “Company X” to speak with you on a particular topic, depending on the relationship and the level of competition.
Benchmarking can save a lot of time on a project by avoiding the “let’s reinvent the wheel” syndrome. If someone else has figured it out, why waste your own time? Now you may find their solution cannot be completely adapted to your specific situation but there are usually as least some pieces that can be used and be very valuable.
Benchmarking is a supplementary requirements technique. It will never be the only technique you use but can add important additional information to the requirements process. On every project you should at least ask yourself if Benchmarking can add value to the requirements process.