That’s why they are all important to the Balanced Scorecard. The Balanced Scorecard software must provide use of these different unit types for KPI measurement.ĩ) Corresponding weights: Key Performance Indicators are tuned according to the needs of the organization.
The first thing a KPI owner will do, when analyzing data for its communication, is its definition and description.Ĩ) Unit type availability: Key Performance Indicators are usually measured by different unit types such as: “#” for number, “%” for percentage, “$” for monetary value regardless of currency. Quickscore, for example, connects the Balanced Scorecard to Strategy Maps, Dashboards Individual Reports, an Action Planner and a Document Manager, within a comprehensive performance information system.Ħ) Owner allocation: The optimal Balanced Scorecard software will allow the user to assign owners to the KPIs they are responsible for.ħ) Access to detailed information: A software that provides room for the description and definition of various KPIs is one option to be examined. Some software may focus on presentation tools such as Scorecards and Dashboards, while others may find it more important to link Key Performance Indicators to strategy maps.įinding a software that best connects objectives to perspectives, KPIs to objectives and targets, and initiatives to targets should become a priority. However, practitioners must not get distracted from maintaining focus on the most relevant KPIs for the organization itself.ĥ) Functionality: Balanced Scorecard software vary in the manner they assemble constituent elements of a performance management system. Selecting a software that enables monitoring of large volumes of KPIs is an indicator of that software’s flexibility to house reporting from across all levels of an organization. The adequate software must present information and data in manageable fractions, so as to facilitate learning.Ĥ) Number of performance indicators: New Balanced Scorecard software technologies, allow for an unlimited number of KPIs to be entered, measured and tracked. Using an already established infrastructure can lead to an economical optimization of systems and processes.ģ) User interface: In the competition for making their portals user-attractive, Balanced Scorecard software providers may drift away from the simplicity of a realistic design. However, the flexibility of the design, adapted to pre-existing scorecard models practiced in the organizations, should be one of the criteria organizations base their selection on.
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Information security and execution costs are also elements of concern when it comes to an optimal Balanced Scorecard implementation.ġ) Time and resources: When selecting the adequate Balanced Scorecard software for your organization, the time and resources required for a full implementation should be thoroughly examined.Ģ) Flexibility: There are various Balanced Scorecard designs that we can choose from. Software set-up, design, configuration and technicality are some of the dimensions to be analyzed during the Balanced Scorecard software selection process. When choosing the right Balanced Scorecard software for an organization, there are a few issues to be considered.
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