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Archive for the ‘Performance Management’ Category:

Monitoring Performance: KPIs and Balanced Scorecards

October 13th, 2010

You simply may not have enough time to track the progress of every single project underway in your organization. Alternatively, maybe you do have the time, but not the capabilities to make the tracking process a simple and coherent one.

Whatever the reason, it can be difficult for Performance Managers in large organizations to actually capture the skills of each of the employees at their disposal and take advantage of their knowledge in certain areas to maximize performance.

However, with the inclusive capabilities of the i-nexus business execution software, it is incredibly easy for organizations to monitor their performance – and even have the ability to predict their future performance.

This KPI dashboard software can help CEOs and Performance Managers to effectively incorporate a measurable indicator into their company strategy, and use this indicator as a tool for measuring their current performance in certain areas across their organization.

Financial benefit tracking capabilities in the Business Execution Suite enables Performance Managers to use the insight into their own performance to alter, scrap or renovate different processes leading to successful business execution depending on how they are forecast to perform, and actually measure how much of an impact any changes made are having.

Also incorporating Balanced Scorecard disciplines as a reliable measurement framework, the i-nexus Business Execution Suite will help organizations to perform more resourcefully and give them the chance to act before an integral project fails – all on one easy-to-use interface.

Overall, this will make delivering on the promises made to clients and stakeholders much easier for CEOs, and enable them to produce those all-important financial results in optimal time.

Tags: business execution software, financial benefit tracking, KPI dashboard software
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Business Execution: Look to the Future

October 5th, 2010

When making an organization a more goal-driven one, with so many balls up in the air at any given time, managing projects and knowing exactly how you are performing in relation to achieving goals (the goals that the actual projects have been formulated for) isn’t always plausible.

Surprisingly for some organizations, the ability to forecast performance is disregarded completely as an impossible task, and isn’t even considered when formulating strategies. Instead, the focus is primarily on previous performance, and identifying areas which could have been improved upon in the past in order for a more beneficial outcome.

However, it is important to note that past performance cannot be changed, whilst future performance can. Organizations instead need to focus on finding a platform upon which continuous future improvement can be based, and ensure that they do not become preoccupied with historical performance to base essential company strategies on.

i-nexus’s business execution software allows the data regarding an organization’s performance to be viewable on just one simple, spreadsheet-style interface; offering a more comprehensive and easily-comparable solution for ensuring that your projects are on-track for success.

The i-nexus Balanced Scorecard software capabilities allows for the framework to be used not just as a reporting tool, but one that can really drive performance in the organization. When linked to operational excellence programs such as Lean Six Sigma and Hoshin Planning can create a Business Execution System that can truly dramatically increase the probability of delivering on your goals.

i-nexus’s business execution software is currently assisting multinational organizations Novartis, Gold Field and Pfizer to look to the future and base their company strategies on garnering continuous improvement.

Tags: Balanced Scorecard Software, business execution software, continuous improvement, operational excellence programs
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Need a Systematic Strategy? Ask Yourself

October 1st, 2010

As the CEO or Program Manager of a large-scale organization, day-to-day business is never without its incidences of insecurity, which is mostly caused by the unknown – unknown in the form of not actually knowing how well you are performing in your sector, and more specifically if the projects currently underway to foster goal achievement are going to fall flat or bring success.

CEOs and Program Managers need to ask themselves, quite simply, “are we on-track and heading in the right direction for achieving our goals?” If not, the inevitable question will be, “are we doing something about it, and what should we do to get back on track?”

Then, if they can effectively identify what needs to be done, CEOs will have to ask themselves, “Will these actions actually make a difference and get us to where we want to go?”

However, the issue at hand is that asking these questions and getting the answers to them isn’t as simple as CEOs would like. To answer these inevitable questions, CEOs actually need to have a means of determining whether or not they are on the road to business execution success, and require a platform upon which performance can be measured.

The i-nexus Business Execution Suite incorporates Balanced Scorecard software and KPI tracking software capabilities which can help Program Managers and CEOs to measure their current performance, and even forecast the likelihood of goal achievement and project success.

With financial benefit tracking capabilities to measure performance, organizations can use this business execution software to build a reliable platform on which goal achievement can be based. This software allows organizations to constantly view how their projects are performing, and gives them the valuable, priceless insight required to answer to themselves and steer their organization on the right track.

Tags: Balanced Scorecard Software, business execution software, financial benefit tracking, KPI tracking software
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The Reliance On Performance Management Software For Success

August 4th, 2010

Software that incorporates capabilities that support performance management helps private sector companies analyze which processes currently in place are having little to no effect on overall business execution and operational performance.

Recently though, more public sector organizations have come to adopt the Lean principles that accompany a desire to become more organized and economic; which can ultimately result in more accurate methods of analyzing performance coming into play.

Whilst making ends meet becomes increasingly difficult in the public sector, it has forced them into action: realizing now that they are under immense pressure to deliver on the government’s promises or suffer the serious implications and scrutiny after the fact.

Lean project and deployment tracking, and other policy deployment software, can help the public sector to continually analyze their performance from all angles, and determine how incorporating Lean practices has impacted the overall efficiency of their sector.

Performance management is an essential follow-up procedure required to assess the processes contributing to goal achievement in any organization, and Lean project tracking can assist the public sector in facilitating goal achievement as economically as possible on an on-going basis.

Tags: analyzing performance, Business Execution, Lean project and deployment tracking, policy deployment software
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The Capabilities Of The i-nexus System

June 29th, 2010

A customer-driven approach with values based upon integral teamwork, respect and simplicity is the route that business execution software vendor, i-nexus, take when offering their broad range of business execution solutions to clients.

The employees in our team are particularly business savvy, and have a strong focus on how, exactly, the end users are going to implement and use our business execution software. It is this expert knowledge and careful consideration that allows us to adhere to the need of our clients with precision and accuracy, so our business execution software can be integrated into their company strategy with relative ease and simplicity.

Members of the i-nexus team are experts in each of the solutions on offer – from the balanced scorecard software to the Operational Excellence program – which enables us to effectively tackle all of the challenges organizations face when using business execution software, and integrate these problem-solving capabilities into our solutions.

The i-nexus system has powerful reporting capabilities that continually engage stakeholders in the deployment process, which is helpful considering that the system shows a positive ROI at each stage of deployment and not just after completion, so stakeholders can be kept updated on all developments.

Designed to support users from the very first day of implementation, i-nexus’s easy-to-use business execution system makes the entire process of stabilizing continuous improvement incredibly easy. Its ability to highlight issues and particular requirements for successful goal deployment makes the i-nexus solution one to trust for effectiveness, ease of use and generation of long-standing, positive results.

Tags: business execution software, goal deployment solutions, i-nexus aolution capabilities, i-nexus system overview
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Avoiding Information Overload With Your Balanced Scorecard

June 24th, 2010

The balanced scorecard is a business execution platform that purposely includes a limited number of key metrics; for the simple reason that adding a host of new metrics to a range of financial ones will result in potentially hundreds of complex measures being put in place.

This will inevitably result in confusion for an organization’s employees, and make completing tasks that contribute to successful business execution a much more drawn-out process than what is necessary. For companies operating under strict deadlines, this is an issue definitely worth avoiding.

i-nexus’s balanced scorecard software has a particular focus on four major aspects of performance (financial, customer, internal process, and learning perspectives), and the objectives created within these perspectives need to be specific, firm-based targets that only include the basic essentials of what needs to occur for an organization to realize their goals.

If only the most critical of measures are selected, it will be incredibly easy for the staff within an organization to decipher precisely what processes need to go underway in order to achieve a specific outcome.

These organized, coherent business execution measures will help a company to avoid drowning their employees in trivial information that has no effect on goal achievement. An overload of information can be evaded if organizations enforce a strict limit the number of measures put in place to around twenty at the most, and only include three; perhaps four of these for each of the central perspectives. These measures can then be identified as the most critical needed in order to achieve wider organizational goals.

The balanced scorecard software offered by i-nexus can assist companies in stripping wasteful processes and unnecessary information out of their company strategy, to leave employees enlightened and more informed. Used by global household-name brands such as Nestle and Toshiba, i-nexus have developed a balanced scorecard solution that allows organizations to efficiently avoid causing a superfluous information overload with their balanced scorecards.

Tags: Balanced Scorecard Software, BSC implementation tips, Business Execution, Kaplan and Norton's perspectives
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Preventing Potential Balanced Scorecard Pitfalls

June 22nd, 2010

When implementing a balanced scorecard solution, whilst it is an incredibly versatile and effective way to align wide organizational goals to internal processes, there are many issues that can arise during the implementation process that are left to the responsibility and initiative of the organization.

This includes the following:

- A confusing scorecard will be incredibly difficult for employees to understand and make any use of, so a strategy has to be well-defined for successful balanced scorecard software implementation. A vague strategy will make understanding of the links between metrics and objectives indistinct, and therefore it will be extremely difficult for employees to execute their actions with an effect on goals.

- The inclusion of both lagging and leading measures is essential, but many organizations only use financial measures – which only offer a description of a company’s past performance. The past is likely to not affect success as much as the initiation of new, leading measures will, as these can be used to plan for performance in the future.

- All of the departments within an organization need to be aware and involved in goal achievement. With each department being integral and purposeful, if they are not informed about the company goals then this will hinder any success. Balanced scorecard software will help staff to create and deploy strategies that will contribute to goal achievement, but it will be up to the user to integrate the members of a company.

i-nexus is a business execution company providing a balanced scorecard solution that will make it easier for organizations to identify and overcome some of the common issues faced with implementation. With the use of an interface that can highlight actions currently not aligned to strategic goals, and allow individuals within a company a unique look at the goals from their perspective, organizations can rest assured that their balanced scorecard software is working with them to provide efficient business execution capabilities.

Tags: analysing performance, Balanced Scorecard challenges, Balanced Scorecard Software, BSC implementation, Easy to use BSC software
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Balanced Scorecards, KPIs and Strategy Mapping

June 17th, 2010

The expectations of shareholders are of the utmost importance to any organization. This is just one of the many reasons that companies worldwide are implementing balanced scorecard software systems into their business, as the use of tools within this software can effectively translate these expectations into key performance indicators (KPIs), which can be used to measure, track and monitor how the processes contributing to business goals – such as meeting shareholder expectations – are performing.

The Strategy Map is one of the tools used within the concept of the balanced scorecard that can assist organizations in achieving this. Strategy Mapping is a process whereby the goals for an organization are elaborated upon to formulate smaller targets, and therefore the even smaller – but that isn’t to say any less vital – processes that will contribute to continuous improvement and eventual achievement of that goal.

The KPIs included within a balanced scorecard are illustrated by the strategy map in terms of the cause-effect relationships they have with each other, thus making it much easier for organizations to identify where, exactly, certain processes and targets collide. This makes sourcing the exact pinpoint of high performance, or indeed downfalls much easier and simpler, and replicating encouraging results can be done so strategically.

Global leading business execution specialists at i-nexus are providers of balanced scorecard software and KPI dashboard software; proven to increase the amount of goal-driven actions being followed through by more than half for industry-leading, global brands such as Nestle, Novartis, Toshiba, Gold Fields, Alstom and Pfizer.

By implementing the business execution systems (KPIs and Strategy Mapping in combination with a balanced scorecard) that conveniently interlink and work harmoniously, organizations can see genuine, measurable results from i-nexus’s solutions.

Tags: Balanced Scorecard Software, Business Execution, KPI dashboard software, Performance Management
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Make Sure That Your Balanced Scorecard Is Effective

June 15th, 2010

A balanced scorecard should result in processes aligned to goals, well-versed employees, efficient progress tracking and a higher level of customer satisfaction in relation to a company’s mission statement.

Balanced scorecard software is typically implemented by organizations as a tool for driving strategy and goal execution, but it often only serves as a reporting system that rarely helps the user to identify key areas that need improvement for the strategy to be effective, or links between processes and goals.

This is because organizations rarely realize that simply having a scorecarding system that allows them to measure their success is pointless – unless action is taken based upon these findings.

Before software is put in place to instigate this change, organizations first need to understand their strategic plan, and communicate it to their entire business. The fundamental purpose of balanced scorecard software is to ignite evolution, but this is not possible if central business objectives aren’t made clear to all employees so that they can understand how their role contributes to the company’s overall success.

When actually employing the software, it is vital that it yields towards the technology currently in use at the company. If not, implementation is practically guaranteed to be ineffective due to complications arising from unnecessarily varied software.

This business execution software will have to be easily accessible and understandable to employees, because without ease of use, it will become extremely difficult for employees to update strategies to adapt to the findings displayed on the scorecard; thus rendering the application of the scorecard pointless.

Business execution experts, i-nexus have developed a balanced scorecard software solution that effectively ticks all the boxes. It makes use of an interface designed with simplicity for the user as a main priority, and includes features such as personalized goal viewing, a system that highlights goals unaligned to internal processes, and management capabilities that make it an unrivalled solution for common scorecard challenges.

Tags: Balanced Scorecard Software, business execution software, driving goal execution, Easy to use BSC software
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One Simple Scorecard Solution

June 11th, 2010

The use of a multitude of different interfaces or solutions often makes the business execution process unnecessarily complex, and can hinder rather than enable the success an organization is hoping to achieve. The use of too many different spreadsheets will only cause confusion, and increase the likelihood of employees making continuous errors.

Thus, the need for just one system to make viewing internal processes and their relationship to wider company goals becomes prominent. Formulating strategies and deciding which actions are needed to make these strategies feasible is much easier with just one system that can be accessed by any member of an organization, at any time.

i-nexus have developed a balanced scorecard software solution that combats these issues, and supports Kaplan and Norton’s latest strategy execution framework. Designed on a single interface with accessible drag and drop capabilities, this business execution platform enables the user to plan ahead and develop a focus for their business based on achieving long, rather than short-term success – all in one simple system.

This is achieved because this particular business execution platform allows the user to identify high performance processes that are affecting execution, rather than simply having a display that tells them when, or if goals have been successfully achieved. Knowing that a target has been met is useless knowledge without an awareness of the particular processes that made the success occur in the first place. Without this information, how will this success be strategically replicated in the future; not just by luck of the draw?

i-nexus’s balanced scorecard software solution makes collating information regarding internal processes and company goals an incredibly efficient process, due to its ability to highlight actions not aligned with goals, help the user understand how on-target they are to completing certain goals, and translate strategy maps into scorecards for consistency all in a single inclusive system.

Tags: Balanced Scorecard Software, Business Execution, Inclusive Balanced Scorecard system, Kaplan and Norton's strategy execution framework
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