The Balanced Scorecard (BSC) is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals.
It was originated as a performance measurement framework that added strategic non-financial performance measures to traditional financial metrics to give managers and executives a more "balanced" view of organizational performance. The Balanced Scorecard has evolved considerably from its roots as a measure selection framework. Nowadays, it is one of the main frameworks to guarantee corporate alignment and business performance within organizations through scorecards and dashboards that provide drill down / up capability to identify sources and root causes for under-performing metrics in all levels and departments.
SoftExpert offers the most advanced and comprehensive software solution for compliance management that meets the stringent needs of various global regulations. SoftExpert Excellence Suite helps companies adhere to Balanced Scorecard methodology while lowering the costs of compliance, maximizing success, increasing productivity and reducing risks.
The SoftExpert solution enable organizations to drive strategy execution through all levels, track and manage performance metrics across multiple perspectives and create a rich set of strategy maps, KPIs, scorecards, analyses and reports. With online collaboration capabilities, the organization and managers can communicate and be updated on the progress of the operations, involving more users, teams, offices and business units with a systematic and unified approach in turning the strategy into action.
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The benefits of the Balanced Scorecard can be maximized by adopting the SoftExpert solution, and include:
- Promote a culture of performance.
- Promote strategic alignment.
- Improve communications, both internally and externally.
- Emphasize strategy and organizational results.
- Provide strategic feedback and learning.
- Drive strategy execution.
- Clarify strategy and make strategy operational.
- Identify and align strategic initiatives.
- Link budget with strategy.
- Conduct periodic strategic performance reviews.