Balanced Scorecards |
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Consistently mapping and analyzing key business figures
Efficiency goes beyond financial power
Prior to the acceptance and use of the balanced
scorecard concept in organizational management,
financial indicators such as revenue, profit, interest
and payments were being utilized.
At that time, the goal was to translate organizational
comprehendible measures and to institute new strategies
based on those measures.
Increasing economic pressures and the globalization
of markets have made it apparent that relying only
on financial indicators to identify organizational
changes taking place within short time periods, and
rapidly devising corresponding new strategies are
not always possible.
The changes taking place today in an organization
are reflected in tomorrow's financial indicators.
However, they do not convey information about
organizational activities, quality of production,
customer satisfaction, development of personnel or
innovation.
Yet, it is exactly such factors that affect the
competitive and financial status of organizations and
provide the fundamental clues for the future
strategies of the organization.
As an example, the credit rating system being
newly employed by banking institutions has made it clear that financial indicators alone are not
sufficient to measure credit worthiness, thus
proving that the use of "effective indicators" is much
more significant.
Balanced scorecards are especially useful for
medium-sized organizations in evaluating fundamental
criteria for organizational success and in focusing on
organizational goals. Being able to weigh the positive
and negative aspects of an organization and effectively
stating performance results aids in providing useful
future evaluations.
The balanced scorecard implementation within the
CANIAS ERP system provides an integrated tool that
ties fundamental aspects of the organization, such as
execution of business processes, motivation of
personnel, levels of innovation etc, to financial
indicators and allows these indicators to be utilized
within the organization.
It acts to serve as a bridge between business strategy
and the ongoing organizational activities, and is an
exceptionally useful system for the statement of
organizational strategies and their "measurement".
Know your company's performance
The CANIAS ERP Balanced Scorecard module offers the
ability to specify time-based goals and limits for
discrete areas of interest within an organization; these
goals and limits can subsequently be automatically renewed,
or manually modified. Goals attained are
presented in report form.
Multiple goals and limits can be defined for various
organizational activities, and performances of
departments and personnel can be evaluated.
Additionally, main and sub-categories can be defined
within balanced scorecard structures, and multiple
sub-categories can be linked under a single main
category.
All data which can be quantitatively expressed,
whether located within the system itself or stored in an
external database, can be automatically converted into
balanced scorecard reports. Reports-based automatic
evaluations at periodic intervals are also possible.
A significant feature of the module provides dynamic
graphical displays showing the progress of business indicators,
taking into consideration the deviation from the
previously specified limit values. Limit values are configurable,
and deviations are highlighted.
Measure indicators of your organizational accomplishments
For small to medium-sized enterprises, customer
satisfaction and customer loyalty are convenient factors
for measuring business success. Indicators for quality of
production, motivation of personnel and technological
innovation should be continuously evaluated, and should
be revised per customer requirements.
Balanced scorecards award organizations by allowing
personnel to identify goals they achieved, and by enabling
customers to recognize improvements that have been
realized in the quality of products and services. These in
turn can be used as indicators of trends towards
achievement of financial goals.
Integrated across all business divisions
The Balanced Scorecard module is tightly integrated into
the CANIAS ERP system; data from the activities of
all departments is used to produce the scorecards.
CANIAS ERP Balanced Scorecard Module is a full-featured
tool that offers a high degree of transparency
throughout the enterprise and helps to achieve and
monitor organizational objectives more efficiently.
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- Strategic goals and limits are brought under management
- Development of a balanced scorecard structure
- Definition of main and sub-categories within the balanced scorecard structure
- Regular reporting of evaluations
- Monitoring and reporting for both departments and individualsl
- Manual and automatic data acquisition
- Ability to store data from external sources.
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