Organisations that use Data Point Balanced Scorecard Software will out perform organisations without a formal approach to strategic performance management.
A Computerised Balanced Scorecard is a software platform that helps organisations to visualise business Key Performance Indicators (KPI’s) digitally. Our Balanced Scorecard platform offers a central database of business information that is owned by the team for the team. It will help organisations to achieve strategic alignment, goals & objectives. Apart from operational data a Balanced Scorecard measures other parameters like organisational strategy but more importantly action plans to drive trends in the right direction. Typical measures include Safety, Quality, Delivery, Inventory, Scrap, Overtime, People Productivity. Supplier scorecards can also be developed within the same platform. Our Balanced Scorecard platform will power up your organisation with the right KPIs linked to Safety Quality Delivery Cost (SQDC) delivering operational excellence and sustained growth.
A computerised balanced scorecard will enable management teams to target the right issues, driven by trend and Pareto analysis. The Safety Quality Delivery Cost (SQDC) process provides the focal point, to understand and action the key issues. The scorecard uses the entire organisation KPI matrix to enable the business to effectively link it’s performance to a continuous improvement process in order to make sure people are targeting the right issues!
Focusing the whole organisation on the key areas requires a breakthrough performance to deliver the right results.
A computerised balanced scorecard shows that an organisation understands the whole picture of performance and impact - and that these areas are crucial to its overall success. By focusing everyone in the organisation on improving those key areas, overall performance gets better and this then has a profound impact on the bottom line. This helps to integrate various corporate programmes (Customer Focus, Delivery Performance) to gain momentum and sustainability.
Understanding different organisational initiatives or programmes from different perspectives can be a way of getting everyone aligned and working together to achieve a common goal. If the balanced scorecard shows "delivery performance" is in the red, then focusing on team's delivery performance behaviours will lead to small improvements in each department; the overall effect will be a larger improvement in the delivery performance across the organisation.
Breaking down strategic objectives to lower levels of the organisation, will allow managers and employees to know what is required to achieve excellent overall performance
An organisation may have overall goals - to increase productivity by five per cent, for example. By breaking down its productivity measures to granular levels of the organisation as part of a balanced scorecard, every member of the organisation will have clear targets that support the overall goals. We call this a "Line of Sight" so every employee can see their own efforts linking and aligned to the strategic objective.
Using a balanced scorecard platform can have a positive impact on all employees, as it will recognize strengths and weaknesses of different people in different areas. Employees can feel valued in ways not recognized by traditional measurement approaches. At the same time, an organisation can use its people's strengths to their greatest effect while working to improve their areas of weakness. A balanced approach to leverage strengths and build on weaknesses
Data Point Balanced Scorecard forms part of a wider strategy. Data Point links areas of the business to deliver improvements, through understanding what is required at a strategic level cascaded down to lower levels in the business. Data Point achieves strategic and tactical goals through operational execution.
One area that is key to Data Point is Financial Awareness. It focuses on financial performance of your organisation across the organisation horizontally and vertically. It will cover revenue and profit targets, budget and cost-saving targets through lean activities. This then can be tracked for the financial status for managers to track and progress. Financial performance is usually the result of good performance in the other areas of the scorecard.
Data Point focuses on performance targets as they relate to your customers and the market. It will highlight customer growth and service targets as well as market share and your impact in the market place. Typical measures and KPIs in Data Point include Safety, Quality, Delivery, Cost, Inventory & People as well as more detailed KPI's
Internally focussed teams will drive focus on internal operational goals as they relate to the key processes necessary to deliver the customer targets. KPI’s aligned to the internal business processes & goals will drive up performance. Other KPI’s for Internal Delivery performance are, Stock Turns, Internal quality measures (Scrap / Rework) etc.
Hard to see areas that are intangible drivers of future and often categorised into the following areas:
Organisations that use Data Point Balanced Scorecard platform will out perform organisations without a formal approach to strategic performance management.The key benefits of using Data Point include:
Data Point provides a powerful structure for building and communicating strategy & KPIs. Our Blueprint helps managers to think about relationships between the different strategic objectives. The Blue Print ensures that teams are aligned on strategic objectives. Data Point delivers performance outcomes as well as key enablers or drivers of future objectives and they are identified to create a complete strategic landscape.
Data Point gives an overview of the strategy allowing you to easily communicate your organisations strategy internally and externally. The various modules and dynamic graphics facilitate the understanding of the strategy linked to action on a data by day / week by week basis. It helps to engage all staff in the delivery and review of Strategic, Tactical & Operational objectives.
Data Point will help you map your Continuous Improvement (CI) projects and initiatives to the different strategic objectives, which in turn ensures that the projects and initiatives are tightly focused on delivering true return on investment for all CI activities. This also keeps focus on delivering to the bottom line.
Better Management Information
Data Point helps organisations design KPI’s (key performance indicators) for their various key objectives across the business horizontally and vertically. This enables them to measure what actually matters and to understand how an action has moved the trend in the desired direction. We know through our own experience that our customers who use Data Point will report higher levels of KPI achievement and better decision-making throughout the organisation.
Data Point is used to design various performance reports and dashboards especially for day to day meetings and monthly board reports. We can bespoke your reports to give you the exact information charts and data, enabling you to press a button and instantly create your reports. This prevents employees spending hours every week / month creating reports for month end reviews that are by the nature of month end reports are out of date. Our reports ensure the management teams focus on the most important strategic and operational issues enabling them to monitor the execute their plans.
With the creation of a Blue Print linked to Data Point, our customers feel better aligned to their organisational goals and targets with a clear cascade of strategic objectives down to operational actions. Data Point will ensure that all departments and support functions are working towards a common goal. By cascading Data Point into individual departments it helps to achieve performance targets and links strategy through to tactical and operational focus.
Data Point will help to align your organisational processes such as budgeting, delivery, inventory, safety and risk assessments with strategic priority. By using Data Point it will give you the ability to create a truly strategy focused organisation.
More than just implementing a Balanced Scorecard System, it is more important to measure the result of strategic decision-making. The scope of a Balanced Scorecard is different from KPIs. Balanced Scorecards are about strategic mapping, business goals, strategic descriptions that help organisations to focus on their strategic vision and mission.
While KPIs give the organisations different measures of their performance indicators. Each organisation and their strategies are unique, so every organisation needs to design their own road map for a successful Balanced Scorecard Implementation.
Aligning KPI’s is key to getting the implementation right. This can be a tough task as different department managers will have their own set agenda for what needs to be measured. Gaining true alignment of KPI’s is critical to making a Balanced Scorecard work and sustain in any organisation.
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