The Balanced Scorecard (BSC) introduced by Kaplan and Norton In 1992, began as a concept for measuring whether the smaller-scale operational activities of a company are aligned with its larger-scale objectives in terms of vision and strategy. It is designed to translate vision and strategy into objectives and measures across four balanced perspectives: financial, customers, internal business process and learning and growth. It gives a framework ensuring that the strategy is translated into a coherent set of performance measures.

By focusing not only on financial outcomes but also on the human issues, the balanced scorecard helps to provide a more comprehensive view of a business which, in turn, helps organisations to act in their best long-term interests. The strategic management system helps managers focus on performance metrics while balancing financial objectives with customer, process and employee perspectives. Measures are often indicators of future performance.

Implementing the scorecard typically includes four processes:

• Translating an organisation’s vision into operational goals

• Communicating the vision across the organisation and linking it to individual performance

• Business planning

• Feedback and learning providing the ability to adjust the strategy in reaction to changing conditions, both internal and external.

Tagetik CPM delivers Dashboard & Scorecard Applications

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Tagetik CPM is the first completely financial closed-loop, double entry CPM solution, that unifies in a single product all Corporate Performance Management processes and Financial Governance processes for data consistency and reliability.
The only solution with Built-in processes and advanced functionalities able to comply with the most complex regulatory requirements, helping companies automate processes, and obtain the necessary transparency and data accuracy for compliance.

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