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 the full benefit of business metrics.  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 using precise performance metrics.

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.  We have hundreds of balanced scorecard examples that can be drawn upon.  Each of our individual examples of key performance indicators is supported by formulas and proven methods to collect and report performance.  Developing key performance indicators for your business can be a challenge. 

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)

Key Performance Indicators 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 to 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 into 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 examples and software / templates that further facilitate implementation. We understand that a balanced scorecard solution can only be fully realized through effectively accessing and analyzing data.