The automation of a balanced scorecard is addressed in detail in Step Seven of the Nine Steps to SuccessTM methodology. In this step, the scorecard implementation process begins by applying performance measurement software, such as the QuickScore Performance Information System, to get the right performance information to the right people at the right time. Automation adds structure and discipline to implementing the balanced scorecard system, helps transform disparate corporate data into information and knowledge, and helps communicate performance information. In short, automation helps people make better decisions because it offers quick access to actual performance data.
There are over a hundred balanced scorecard and/or performance management automation development companies. Some of the options are specifically dedicated to performance management and/or the balanced scorecard. Others include tools which are primarily designed for business intelligence, analytics or data warehousing, but have modules dedicated to performance management. The Balanced Scorecard Institute formally recommends the balanced scorecard software QuickScore Performance Information SystemTM developed by Spider Strategies and co-marketed by the Institute, but also advises clients on the many excellent software options available and acts as an honest broker between the client and the software vendors, of which many are also partners of the Balanced Scorecard Institute, such as Actuate. A free personal strategy map / balanced scorecard product is available here.
If you would like to learn more about how the Balanced Scorecard Institute can help your organization with software evaluation or QuickScore Balanced Scorecard software purchase, contact us.