Scorecards can be an extremely effective tool for helping organizations define, monitor and communicate progress toward strategic objectives.
It enables organizations to integrate their metrics and key performance indicators (KPIs) into high-participation planning, budgeting and forecasting processes. Scorecards help drive greater accountability and strategy execution.
Businesses both large and small have used scorecards to compare strategic and operational plans with actual results and show employees and managers how well corporate objectives are being met. Today, as finance and business managers drive the business forward with agile planning and exploratory analytics, organizations need to translate their strategies into tactics aligned with clear, quantifiable performance targets. Scorecards are the practical, everyday tools that teams and individuals can use to measure progress toward those targets.