Implementing the BALANCED SCORECARD
Since 1990, Quality
Solutions, Inc. has been recognized
for its world-class expertise in the design and implementation
of Balanced Scorecards. Many companies have heard of the
concept of the Balanced Scorecard, yet few understand
how to implement it and get its full benefit. Also known
as a digital dashboard, the Balanced Scorecard system
provides managers and executives performance feedback
on each of the organization's key business processes.
Our approach in designing the Balanced
Scorecard allows you to manage your business through the
use of the Business Excellence Assessment Process that
assesses and captures, the voice of the internal processes
as well as utilizing the voice of the customer to create
an integrated system. The Balanced Scorecard process can
also be integrated into your performance appraisal system
and bonus programs. We will also show you how to use Benchmarking
to establish stretch goals and incorporate best practices.
The Balanced Scorecard consists of
a set of Key Performance Indicators, which represent predictors
of Customer Satisfaction, Operational Performance, Financial
Results, and Organizational/Leadership Effectiveness.
Quality
Solutions, Inc. has helped both
Fortune 500 and small companies alike reach breakthrough
levels of performance.
Financial performance
is only one set of indicators that represents the true
health and future success of an organization. Successful
organizations today examine and analyze "predictors
of customer satisfaction, operational performance, financial
success, and organizational development." Combined
these represent a Balanced Scorecard of Key Performance
Indicators or KPIs.
Key Performance Indicators (KPIs)
Represent
Predictors of Customer Satisfaction, Operational Performance,
Organizational Development, and Financial Results. KPIs
are typically presented in graphical form so as to provide
trends, comparative information and make it easy for people
with limited backgrounds in statistics or financial management
interpret the results
KPIs provide
a means to connect departments and functions with common
goals and objectives that support overall business success.
KPIs are always integrated in to the objectives outlined
in the business / operating plan. KPIs facilitate effective
review of business performance by focusing on key issues
as well as balancing short and longer term objectives
of the business and its key stakeholders.
KPIs
- Measure the predictors of customer satisfaction /
loyalty
- Measure operational performance
- Highlight the overall corporate vision
- Integrate KPIs into your business plan
- Facilitate in the development of a balanced scorecard
- Identify and compare benchmark metrics
The development of an Integrated Performance
Management System encompasses seven (7) modules. Each
module includes professional consultation support and
some modules may be supplemented with training.
These modules include:
Module 1. Core Team Training
Module 2. Business Assessment
Module 3. Assessment of Customer & Consumer Satisfaction
Module 4. Development of Key Performance Indicators
Module 5. Development of Reporting Systems
Module 6. Integration of Key Performance Indicators
Module 7. Customized software to report Key Performance
Indicators
Bottom
Line Results begin with
Quality Solutions,
Inc.®
Following a detailed assessment of your business, we will
help you develop the following:
- Executive Performance Indicators and Balanced Scorecard
- Key Performance Indicators for all levels of the organization
- Identification of goals and appropriate benchmark
metrics
Utilizing our customized
approaches to Customer Satisfaction and Competitive Analysis,
we can validate the effectiveness of your predictive indicators
of customer satisfaction and customer loyalty.
Integrated Performance Management Systems
capture the voice of the customer through Customer Satisfaction
Surveys but also provide on-going feedback to management
on the voice of the key business processes, KPIs are the
ideal tool to link the voice of the customer with the
voice of the process.
In addition to our training and consulting
services we can provide balanced scorecard software or
templates that further facilitate implementation. We understand
that a balanced scorecard solution can only be fully realized
through effectively accessing and analyzing data.