The voluntary benchmarking system of the Dutch drinking water sector has matured over time. Nowadays it is Europe’s veteran benchmarking scheme of drinking water companies. The system has been praised by many; although also critical notes are heard on whether the system is still as appropriate and effective as it once was. With the recent legislative change from a voluntary to a mandatory system, there may be a momentum for reflection and change. Now may be the time to see whether the scheme can be rejuvenated. This paper assesses the lessons learnt from the existing system through a 360° analysis of stakeholder’s perspectives, in order to identify ways for enhancement.