An organisation is steered via performance management tools, which are used to lay down a series of markers that need to be followed for the achievement of strategic objectives. Scorecarding closely monitors these financial and operational performance markers and measures progress on a day-to-day basis, thereby enabling companies to:
• assess their position with respect to their objectives;
• concentrate on genuinely important decisions;
• detect a certain number of inter-dependent key performance indicators (KPIs) via the development of plans or strategies;
• obtain relevant measurement indicators for all staff at all levels of the organisation.
It offers staff the means to observe for themselves the impact of their decisions and activities on overall strategy.
•The measurement indicators are easy to monitor and interpret.
•Staff can situate their individual priorities within the broader context of strategic priorities and thus have a basis for their own professional responsibility.
•Scorecarding clearly shows all your staff the key points in your organisation.
The latest-generation Scorecarding solutions represent a crucial pillar for performance management. By combining Scorecarding with Business Intelligence and planning, a company can switch from the development of plans to the monitoring of performance and the use of information in order to identify the factors influencing the result.
A Scorecard presents a series of advantages.
1. Monitoring of performance
• Relevant, rational, results-oriented objectives represent the basis for any strategy and any plan.
• Measurement indicators make it possible to link together strategy, individuals and performance.
• The improvement in quality or performance is sustained by monitoring of the performance measurement indicators chosen.
2. Management of measurement indicators
• Strategic information is transformed into a coherent set of measurement indicators.
• The measurement indicators are defined, grouped, disseminated and linked from a central Data Warehouse.
• Unique registration guarantees easy access to measurement indicators.
3. Action on performance
• Performance problems are detected and treated at source.
• Strategy can be adjusted and implemented without wasting time and on the basis of appropriate strategic information.
• Monitoring of measurement indicators highlights correlations between various performances.
Forcea’s Scorecarding services can be principally divided into 4 sub-processes.
Study, analysis and definition of Scorecarding strategy
In Scorecarding projects, Forcea focuses on the management of workshops and training sessions aimed at familiarising the staff of the client company with the functionalities of Scorecarding and on defining strategic performance indicators with them. In addition to the various actions to be taken in order to achieve a specific goal and the intended objectives, Forcea also helps the client to determine performance indicators, needs, scope, desired results, available and required resources (in terms of budget and workforce), along with the major phases of the Scorecarding project. To do this, it first of all performs an audit of existing environments and a study of the client’s Scorecarding requirements. On this basis, Forcea determines the ideal situation and the final result towards which it is necessary to work (“as is / to be” analysis).
Implementation of Scorecarding
At the end of the strategic phase, an examination of how to gather decision-making information of use to the performance indicators is carried out, before starting the design and implementation the Scorecarding solution. It is important that the latter be developed around the same Data Warehouse as the other performance management tools. In this way, it will be possible to link the Scorecarding solution to the overall Business Intelligence environment, in order to gain a better understanding of a given trend or the evolution of an indicator via analyses and reports.
Project management and Scorecarding consultancy
Forcea provides consultancy and project management services in the context of the launch and implementation of Scorecarding projects. The skills and expertise of Forcea’s consultants are put to work to assist the client in the analysis of environments and existing requirements. Forcea also guides the client in the selection of suitable Scorecarding solutions and methodologies.
Scorecarding training and support
The transfer of knowledge and training are particularly important in order to ensure the continuity of the Scorecarding process, both during the initial phase and after its implementation. Once the project has been implemented, Forcea also provides its clients with assistance, monitoring and guidance services.