Balanced Scorecard Software

Written by Serena Berger
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The balanced scorecard management system cannot be implemented without software to support it. Such a comprehensive collection of measures requires a database capable of storing and processing the information you use to evaluate all of the factors you have determined to be essential to success. You want software capable of running reports in many different formats, as well, as the same information would be ideally presented in different ways to employees and shareholders or to other groups with different interests and knowledge bases.

Software can also give you options for the types of forms or visual layouts that you want to use to view your scorecards or portions thereof. It is typically impossible to view an entire scorecard on a single sheet of paper or computer screen, unless you have abbreviated the items and reduced the font to something nearly microscopic. Good software will help you map segments of the scorecard intuitively so that you can easily determine what you are looking at and where it fits into the big picture.

Integrating Balanced Scorecard Software into Your Operations

Software can help you construct cause-and-effect diagrams that will make it clear which objectives and business processes are linked. You can also use it to run scenarios to determine what will happen if you re-allocate capital or human resources. You can enter the goals and vision of your company in the form of parameters within which your productivity must fall, and if you change any process that affects the outcome in terms of productivity, the software will call your attention to it, so you can redirect your efforts if necessary.

Balanced scorecard software is also capable of automatically importing data from other systems and sources. If you want the software to remain up-to-date with sales, for example, it's easy to link to your inventory control database. Software can also monitor any of your objectives. It can notify employees when they must complete a task, or send them an automatic email if manual data entry is required to perform regular managements of objectives or initiatives.

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