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Cognos TM1

Balanced Scorecard Solutions

First described by Robert Kaplan and David Norton, the Balanced Scorecard is more of a design concept and methodology than an actual application.

The Balanced Scorecard identifies four business perspectives—Financial, Customer, Internal/Process and Learning/Growth—and promotes the concept that these four dynamics must be in harmony for a business to remain viable. The Balanced Scorecard methodology takes executives through a complete process for setting scorecard measures and ensuring that every part of the organization receives adequate communication and reinforcement of the stated business strategies, goals, measures and expected performance.

Profisee can implement complete Balanced Scorecards, and manage both the business and technical aspects of the solution. In practice, Profisee has found a Balanced Scorecard should not necessarily be limited to the four perspectives outlined by Kaplan and Norton, and should usually accelerate the planning and design phase necessary to set measures in order to circumvent "analysis paralysis." Profisee's methodology assumes that time pressures are inherent in every business, and since every analytical application must evolve over time to meet changing business strategy and demands, a Balanced Scorecard must continually be refined and adjusted over time also.

Profisee focuses on key measures from Finance and Operations as the starting point, and believes that competitive analysis should factor in to a Balanced Scorecard wherever possible even if that simply means acknowledging the competitive environment during the target-setting process.

  

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