Scroll Top

search-icon
    drop-arrow

    Gap Analysis

    Meaning of Gap Analysis

    Gap analysis is the method organisations use to monitor their actual performance in comparison to their anticipated and projected performance. This research is used to assess if a company is meeting its standards and is making good use of its resources.

    Gap analysis is the process by which a company can identify its current state through evaluating time, money, and labour, and make a comparison to its target state. The management team will develop an action plan to push the company forward and address the performance gaps by identifying and evaluating those gaps.

    Gap analysis is considered more difficult to use and less commonly applied than evaluating the length, but it can also be used to determine exposure to a variety of movement in the term structure. The term "gap" in gap analysis is the void between where an entity is in the future and where it needs to be.

    How Gap Analysis Helps?

    When companies fail to make the best possible use of their resources, money, and technology, they will not be able to achieve their full potential. That's where the study of differences will help.

    For any type of organisational success, gap analysis often referred to as a needs analysis, is important. It helps companies to define where they are now and where they want to be in the future. Companies should re-examine their goals by evaluating obstacles to determine whether they are on the right road to achieving them.

    Organisations of varying degrees, from large companies to small businesses may use a gap analysis. There is no limit to which areas the use of this strategy will benefit.

    These areas include: - Sales - Financial performance - Quality control - Employee satisfaction - Human resources

    The Steps Involved in Gap Analysis

    Creating organisational goals, optimising the current state, evaluating the gap data, and creating a gap report are the four steps to gap analysis.

    Index

    Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.

    Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.

    CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.

    Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.

    Cleartax is a product by Defmacro Software Pvt. Ltd.

    Company PolicyTerms of use

    ISO

    ISO 27001

    Data Center

    SSL

    SSL Certified Site

    128-bit encryption