Balanced Scorecard is a key player for tracking the progress of an organization, project, or department. Balanced scorecard methodology does not target replacing the financial measures but to complement them efficiently. A well-organized balanced scorecard states the main topics that firms must rely on non-financial perspectives with the aim of gaining competitive advantage. According to researches the 75% of the factors leading success to a company actually stem from non-financial indicators. In traditional success stories profitability and financial figures were benchmarks. However, today the balanced scorecard indicates success is actually a result, rising from reasons.
Meet “Corvisio Balance Scorecard”! Corvisio Balanced Scorecard offers the best organizational method for the improving growth of your company by. A basic Business Scorecard template mainly provides a framework for measuring organizational performance with a balanced package of performance measures. By means of Corvisio Balance Business Scorecard, the four basic perspectives are monitored on the same page clearly. Additionally, the strategies are drawn for the company, department ️and individuals in line with these perspectives hierarchically.
Please check below examples of business scorecard templates designed for the strategic planning of your company :
With the Corvisio Business Balance Scorecard identify the 4 main perspectives for the company’s processes.
Corvisio Business Scorecard serves the “Financial, Customer, Internal Process, and Learning and Growth” perspectives of your company at the first glance. Plus, Corvisio Balance Scorecard template provides a neat comparison of “Target and Current” numbers easily as performance measurements metrics. It enables the executives to distinguish the necessary measurements for drawing the strategic planning of departments.
Corvisio Business Balance Scorecard clearly identifies the “Financial, Customer, Internal Process, and Learning and Growth” steps both for employees, teams and the whole company after all.
Benefits of Using Corvisio Business Balanced Scorecard
Organizations using the Balanced Scorecard approach and strategic performance management much more successfully compared to other organizations which are unfamiliar with scorecard methodology. The main benefits of using Balanced Scorecard can be listed by 7 main titles:
Better Strategic Planning
Corvisio Balanced Scorecard provides a powerful framework for creating strategy and for the communication process of that strategy. The business model is visualized in a strategy map which helps executives realize the cause and effect relationships between different strategic objectives. The strategy mapping process enables consensus on a set of interrelated strategic objectives. Achieving consensus for the strategy map; means that the main drivers or drivers of future performance are identified, along with performance results to create a complete picture of the strategy.
Enhanced Strategy Communication and Execution
Having a one-page picture of the strategy allows companies to easily communicate the strategy internally and externally. It’s known that a visual, an image is worth a thousand words. It is also quite obvious that images are more memorable than words. The visuals make the “plan on the page” strategy easy to understand and help involve staff and external stakeholders in the implementation and review of the strategy. In order to implement a strategy, one must first fully understand the strategy itself.
Better Organizational Alignment
The balanced scorecard ensures that the organizational structures of companies are more aligned with strategic goals. To run a plan well, all business units and support functions of organizations must work towards the same goals. Cascading the Corvisio balanced scorecard into these units will help achieve success and link strategy to operations.
Know-how on Management Processes
The balanced scorecard approach helps organizations design key performance indicators for their various strategic goals. It enables the KPIs of the purpose to be revealed. This poit of view helps companies to measure what really matters. Research shows that companies using Business Scorecard techiques tend to have higher quality management know-how and better decision making attitudes.
Enhanced Performance Reporting
The balanced scorecard can be used to guide the design of performance reports and dashboards. Providing that it is used for guidance, the balanced scorecard keeps management reporting focused on the most important strategic issues and helps companies implement their plans. In Corvisio balanced scorecard, goals are set, KPIs are planned and measured. Corvisio also aims to measure performance of individuals within the project.
Better Alignment of Projects and Initiatives
The balanced scorecard helps organizations match their projects and initiatives with different strategic objectives, ensuring that projects and initiatives are firmly focused on achieving the most strategic goals.
Better Process Alignment
Well-executed Corvisio balanced scorecards also supports alignment of organizational processes such as budgeting, risk management, and analytics with strategic priorities. Finally by means of these steps a company is able to build a truly strategy-driven organization.
With the Corvisio Business Balance Scorecard
compare the target numbers and actual figures within minutes!
The numbers and the figures serve a summary of the department’s progress through the planned strategies and projects. Thanks to the Corvisio business scorecard template, all roles are identified at the very beginning of the process and targets are set with numbers for the teams.
With the Corvisio Business Balance Scorecard monitor the individual progress on one screen.
The Corvisio business scorecard serves not only for the company & departments but also for the individuals, the employees as well. One can monitor the progress of responsibilities and key results assigned specifically and follow the performance measurement metrics clearly through the project.