An organization aims to improve its market value, increase shareholders’ value and demonstrate stakeholders’ wellbeing (i.e. CSP: Corporate Social Responsibility). Actual financial reporting focuses on past performance and does not stipulate the future value drivers of a company. More so, financial reporting demonstrates results but does not detail how these results where achieved. Financial reporting does not answer the following questions:

• What are the value drivers of our strategy?
• Are our objectives clearly set and performance measures defined?
• Are people accountable for performance measures?
• Do we review and communicate on a regular basis our strategy?

To answer these questions in a proper way, an organisation requires more than only financial reporting. Ackinas believes that the introduction of Performance Management provides a more objective view of the value drivers of an organisation.

Performance Management facilitates strategy deployment throughout an organisation and aligns the organisation in the execution of the strategic objectives. A Balanced Scorecard (BSC) communicates the strategy throughout the organisation, becomes therefore part of the daily actions and involves employees actively in the execution of the strategy. A BSC enables a clear communication of group and even individual targets. A BSC invites every user to focus and prioritise on those areas that need his/her urgent attention and therefore increases efficiency. A BSC implies a higher motivation from all your employees since they better understand their role in the overall strategy. Their direct responsibility for one or more indicators correlates positively with their commitment to your strategic objectives.

Targets are set in a balanced way, urging the responsible person to swiftly react on the appropriate level. A Balanced Scorecard also reveals the true business drivers and helps to focus on what needs to be done.

The regular analysis and review of the BSC will call for actions and collaboration around Strategic Initiatives (Business Process improvement), which are initiated and executed to improve performance. The feedback and lessons learned will be available to everyone involved in the execution of the strategy and can lead to new measures and strategy improvements, which closes the performance management cycle.

Ackinas supports its customers with consulting services and embeds the resulting BSC in an application to realize longterm efficiency improvements:

To assess Strategic feasibility and Scorecard awareness; To deploy and align their strategy throughout the entire organisation; To communicate and review the strategy on a regular basis; To coach the development of effective leading and lagging KPI’s; To implement and roll-out a Balanced Scorecard; To implement and cascade specific scorecards (departmental or specific); To link the BSC to Process models and Activity Based Costing model(s); To instil a culture of collaboration; To embed the process of dynamic and progressive improvements; Provide awareness sessions and training

Ackinas applies QPR ScoreCard to secure the effective implementation of your BSC.