Strategy Management & Scorecarding
Scorecards provide an organization with an ideal way for executing and controlling its' strategy by tracking the right Key Performance Indicators (KPI's) in comparison to corresponding targets and as such enabling visibility in every direction. Furthermore scorecarding helps in aligning and empowering the different teams and departmental layers which are present in an organization, by effectively communicating goals and their actual performance in a consistent way.
- at the base of the pyramid, query & reporting tools can be found, showing what has happened
- in the belly of the pyramid, OLAP tools are situated, enabling more analytical functionalities oriented towards why something did happen
- the top level, finally, is reserved for Scorecarding and Strategy Management tools, visualizing how well we are doing by comparing actual performance against objectives or goals.
- a mission & vision transformed into strategy maps & objectives
- cause & effect relationships
- choosing the right Key' PI's in function of the organizational strategy which are translated into actual measures which need to be tracked
- appropriate targets & variances
- ownership & accountability
- metadata, calculation
- actions & milestones for closing the gap between measured actuals & their pre-set targets
element61 can help in automating the Scorecarding & Strategy Management process, which is not limited to the scorecarding applications themselves, but which knows extensions to the underlying data warehouse layer & planning applications.
- Scorecard automation : Next to the definition of the scorecard, the scorecard also needs to be automated. This implies amongst others: an assessment of the technical environment, identification of future business users & their corresponding roles, user requirements analysis, definition of the data sources for all actual & target measures (most likely involving planning & budgeting applications), investigation of the fit for purpose capabilities of those data sources, source to scorecard data feed, definition of the business user interface, definition of different scorecards in function of the different audiences, testing, roll out, training & support. Next to that the right attention needs to be given to a supporting & integrated data warehouse & planning architecture.
- Scorecard tool selection: element61 provides elementary for scorecarding
solution selection. This describes a unique approach towards choosing the appropriate scorecarding solution for your organization. The selection process takes amongst others the following into the account: current infrastructure, organizational requirements, quality & maturity of the scorecarding functionalities of the different tools in the selection process in terms of: strategy maps, cause & effect relationships, traffic lighting, visualization, manul data-entry, metadata, ETL, integration with other BI components
element61 has proven experience in automating Scorecarding and Strategy Management initiatives. In these projects, we not only focus on the scorecarding tools, but we also address issues concerning the alignment of KPI's, the underlying infrastructure in terms of data warehouse and planning applications, data quality, the potential gap between scorecard demos and the real thing and integration between summarized KPIs and detailed information. As a start in your Scorecarding project, you can already read our insight Do's and Dont's of Implementing a Scorecard on the topic.
Contact us for more information or with your specific request.