Balanced scorecard programs are employed in many organizations in the form of slide templates and spreadsheets. MS Office provides a flexible way to brainstorm possible strategic goals, KPIs, and strategic proposals. PPT slides and Excel templates limit flexibility because strategy is evolving.
BSC is more than a stationary program. It needs to be a program that gathers, analyzes, and reports information to management. Manually handled balanced scorecard reports can be a waste of time because it cannot succeed, due to the burden of its own method. Therefore, it is logical and wise to consider developing BSC software like quickscore. However, some things need to be considered through the evaluation process.
BSC is used in every business differs. It is necessary to find a tool, which allows you to control the program from default language to layout to dashboards or reports.
The tool needs to have 2-key functions –
- Strategy map to envision your different strategic aspects, business goal and interconnection between both.
- KPIs or Key Performance Indicators to monitor the execution progress of your strategic plan.
BSC app designers take strategic mapping task seriously. Strategy maps feature takes into account the goals and its connection between associated metrics and initiatives.
BSC success will depend on the participants. If BSC app generates professional strategy plan in seconds then participants will agree to buy it. In case, if the basic strategy map is produced then the team will switch to PowerPoint.
KPIs are fine-tuned as per your business needs. It is the way to recognize how the strategy works. It provides a comparison aspect to gauge performance degree, which changes often. Employees stay focused on what matters the most to attain success. It is a common communication language, which helps to decrease intangible uncertainty.
Which to choose – Web-based or desktop BSC
Desktop software programs are supported with more potent technologies and have a long history. Web-based solutions have been getting popular, but there is supposed to be a lag between functionality of both versions. For example, the desktop edition allows more detailed work with plenty of formatting, whereas online based Word document can be used for simple documents. Similar lag exists between the BSC desktop app and web-based solutions.
Web-based software is easy to start because there is no need for installing, just get registered, while desktop version needs a technical Guru to install and configure.
Data security is a problem for web-based solutions. It is crucial to keep some vital data stored on external servers. The BSC vendors ensure SaaS protection but some organizations don’t prefer to take risks. Sometimes, Government laws may have restrictions on the storage of company data just like personal data protection law of European countries.
This does not mean you cannot use web-based BSC app. The solution is to host SaaS locally, which organize a personal server, installation, configuration, and maintenance. You can get hold of a special license to use the software. This approach is not suggested for small scale business because license and maintenance cost increases dramatically.
A well-designed balanced scorecard from scratch makes creating and managing of strategy plan easy. With this equipment in your arsenal you get right information, which helps to make better business decisions.