How to implement scorecard, KPI or metrics set in your business?

You can create good scorecard or use some commercial metric from our library, but implementing the scorecard into your business processes is what will really improve your business efficiency and make business system more controllable.

Why implement Balanced Scorecard?

Imagines, you have a developed scorecard, but it will not help to improve business efficiency if it will remain on your desktop. You should implement the scorecard in your business system, allow data flows exchange information with your scorecard. You should explain your colleagues how to use the scorecard to achieve a success.

Balanced scorecard implementation steps

The first step in KPI implementation is testing. You should test your metrics and check if your employees are able to understand what you have created. If your indicators are measurable and clearly described then you will see soon that people can use your scorecard. If there are some problems, find them and fix them.

The second step, you should start using in your KPI real data. It is very important, as people will not take it seriously unless it will be using real information from your business. Sometime it is hard to do technically, but BSC Designer will help you or your IT specialist to import data correctly in your scorecard.

The third make sure you can easily share results of scorecard with your employees. It is important that everybody in your company have information about performance indicators. Please, note: you don’t need to assign tasks, such as “Improve this performance indicator…”, people will just find the way to improve indicator’s value, but not your business quality. Try to assign tasks and give indicators values as a good starting point for problem research and a good end point for results analysis.

Use implemented scorecard for some time, and then try to obtain feedback from people involved in usage of scorecard. I’m sure there will be some indicators that people don’t use (or probably don’t understand how to use them), also, it would be great if your colleagues will suggest their own indicators. In this case your role will be in integrating these new indicators in your scorecard.

Metrics implementation – key aspects

• Create and test your balanced scorecard metrics
• Use real-data and integrate scorecard in information flow
• Assign tasks using scorecard metrics and KPIs
• Analyze feedback from users who tried scorecard.

Balanced Scorecard implementation results

What results can you expect after scorecard implementation? Most people experience that the business processes becoming more controllable. People start to work faster and do necessary work smarter in terms of using resources and achieving company goals.

Here are metrics from our commercial library which you might use while Balanced Scorecard implementation:

HR Metrics: Human Resource Metrics, HR Hire Metrics, Training Metrics.

CRM Metrics: Customer Relationship Metrics, Call Center Metrics, Help Desk Metrics.

Marketing Metrics: Web Investment KPI, Brand Metrics, Presentation KPI, Market Metrics.

Sales Metrics: Retail Sales KPI, Sales Metrics.

Security Metrics: Identity Theft Risks Metrics, Security and Privacy Metrics, IT Security Metrics.

Transportation Metrics: Supply Chain KPI, Transportation KPI, Inventory and Warehousing KPI, Logistics Metrics.

Advertising Metrics: Web Advertising Metrics, Press Advertising KPI, TV Advertising KPI, Outdoor Advertising Metrics, Cinema Advertising Metrics, CD Advertising Metrics.

Banking Metrics: Credit Risk Metrics, Retail Banking Metrics, Mortgage Metrics.

Personal Metrics: Productivity Metrics, Innovations Metrics, Communication Measurements Metrics.

Project Management Metrics: Project Management Metrics, Product Launch Metrics, Operations Metrics, Risk Metrics Metrics, Change Management Metrics, Resource Management Metrics.

Quality Metrics: 6 Sigma Metrics Metrics, Continuous Improvement Metrics (Kaizen) , TQM (Total Quality Management) Metrics.

Real Estate Metrics: Real Estate Metrics, Property Investment KPI.

Risk Management Metrics: Market Risk Metrics, Financial Risks Metrics, Operational Risk Metrics.

Finanace Metrics: Financial Statement Analysis Metrics, Active Portfolio Management Metrics, Passive Investments Metrics.

Energy Metrics: Oil Production KPI, Gas Production Metrics.

Medical Metrics: Medical KPI, Health Insurance Metrics.