Directors and managers receive a vast number of reports on the current state of their business, but despite everything they fail to achieve the results they planned. Why? Consumed with the quagmire of disparate and excessive information, managers often waste their time on activities which carry no value for their organization. They have no opportunity to track the indicators which are vital for strategy implementation and no time or funds to communicate major goals and objectives to their employees.
Development of key performance indicators and implementation of a monitoring system for their implementation allow managers to focus on major initiatives and designate the activity of all staff to achieve strategic objectives.
Monitoring of strategy implementation using a balanced scorecard and key performance indicators.
- Communication of the strategy to all levels of the organization
- Alignment of operating activities with strategic goals and programs
- Focus on strategic initiatives, as well as, winding down on programs which are not valuable for the company
- Development and monitoring of key performance indicators at all levels of the organization
- Involvement of staff in strategic management, formation of a communication environment for discussion of strategic issues, increased responsibility of staff for the timely delivery of their work
- Formation of a long-term potential to increase business value
- Numerous built-in capabilities
The system was developed specifically to address the issues of strategy implementation monitoring. Its basic features includes strategic objective visualization, a performance indicator and scorecard customization capability. It supports the most common strategic management methodologies (Balanced Scorecard, Stern Stewart’s Integrated EVA, Malcolm Baldrige). At the same time, one is able to retain a good deal of opportunities for individual customization.
- Drill-down goal and responsibility cards
The goals may be drilled down to key success factors, tasks, programs, initiatives, etc., and assigned to a company as a whole or to any of its subdivisions. An individual performance scorecard can be created for each goal or subdivision.
- Individual performance scorecards
An individual performance scorecard can be created for each employee. Such a scorecard will include performance indicators and goals for a particular employee.
- Integration with the mail service
Integration with the mail service enables the e-mailing of notices dealing with indicator status change, new initiatives or other events to users.
- Simple multiuser interface
The system’s interface is intuitively comprehensible for any employee. A large number of built-in customizable reports assist in getting down to working with the system immediately.
- Centralized application architecture
All information is stored in a centralized database which is accessible from any place in the world due to the use of the “thin client” technology. All users can see real-time information after it has been entered into the system.
- Data security
Secure data access is ensured by the distribution of user privileges according to their roles and by configuring rights of access to different analytical dimensions (directories) or particular reports, folders and other objects.
- Integration with multiple data sources
The system supports data import from nearly any informational resource.