A scorecard process helps define what your department and organization should be measuring. When organizations begin their journey of shaping data into metrics or KPI’s, many take the shortcut and report information that is easy to get, shows a positive picture of performance, or highlights tasks to accomplish. A balanced scorecard that shows all areas in “green” will not help your business improve!
When establishing your scorecard process, you need to develop meaningful metrics that identify the true health of your business. You need to see where you are doing great and where you’re trending downward. These metrics should be action-driven by the person/team reporting the information and connected to the strategic goals of the organization.
Competitive Solutions Inc. offers business consulting and Visuant, a business management software, to ensure your balanced scorecard contains the right metrics. For more information on business performance software and what it can do to improve your business, visit our page here.