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Balanced Scorecard
The balanced scorecard is a concept for measuring whether the activities of a company are meeting its objectives in terms of vision and strategy.
The balanced scorecard is a concept for measuring whether the activities of a company are meeting its objectives in terms of vision and strategy. 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
Tagetik is a global provider of the new generation of Corporate Performance Management (CPM) solutions. With over 10 years of experience, Tagetik has embedded the knowledge and best practices of its customers into Tagetik CPM.
Tagetik CPM is an innovative single CPM solution that unifies in a single product all core CPM processes (budgeting, planning & forecasting, profitability modeling & optimization, dashboard & scorecarding, financial consolidation, statutory & management reporting), extended CPM processes (Ex.: credit reporting & analysis, ICT performance management, governance risk compliance) and vertical CPM processes (Ex.: regulatory accounting, cash flow management by project and mandatory reporting).