Leading performance management company, Analytix, has won a Pula 700 000 contract in conjunction with Botswana-based consulting firm, BESA (Botswana), to implement a performance management solution at Botswana Building Society (BBS).
The companies won the open tender against competition from six other major consulting firms, including several leading international companies.
In terms of the contract, Analytix assisted BBS to implement its proven methodology for performance management, based on practical implementation of the Balanced Scorecard in a variety of financial and organisations in SA, including the Industrial Development Corporation (IDC), Coega Development Corporation, KWV and Archer Mining.
BESA, through hands-on consulting, facilitation, training and follow-up, provided the necessary skills to ensure successful implementation within BBS, at individual, team and corporate levels.
The solution aligned BBS with international best practice and, by enhancing performance levels throughout the organisation, will further strengthen its stature as the premier provider of property finance and investment products in Botswana.
Simon Ntebela, general manager: Corporate Services at BBS, explains that the building society has undergone a period of strong growth in its customer base in recent months, necessitating a review of its approach to performance management.
"We realised that we needed a new approach to our strategic marketing, which involved segmenting the market, determining the value we attach to various customer segments and then meeting their needs in the most dynamic way possible.
"Our rapid growth also meant that we needed a solution that could be quickly implemented.
"Not only was the Analytix and BESA solution the most cost-effective, but it could also be implemented in a much shorter time than any other proposal we received.
"It was also packaged in the way we required, while being the most comprehensive in terms of meeting our needs."
He adds: "The well-researched methodology of Balanced Scorecard, tested over many years, gives us confidence that our approach is on par with best in the industry.
"We could really see it taking us in to the long-term future, while meeting our strategic objectives to provide better service to our customers."
Nicholas Mbikwe, managing director of BESA (Botswana), says: "We decided on partnering with Analytix after investigating similar best practice implementations by the company in SA.
"Analytix has an excellent track record, particularly in terms of its expertise in the Balanced Scorecard and in practical performance management implementations."
He says a key element of BESA`s consulting services at BBS will be to facilitate the translation and definition of a common vision and strategy, by securing commitment from senior BBS management and creating a game plan for change.
"This will lay the foundation for the roll-out and implementation of the performance management process," he explains.
BESA will then assist in the development of a BBS strategy map, showing cause and effect relationships, and summarise the strategic objectives at BBS for the next five years.
A key deliverable will be the formulation of a performance management policy and procedures document, which will form the blueprint for BBS`s performance enhancement drive. Corporate, team and individual Balanced Scorecards will enable BBS to translate strategy into action, and will form the underlying structure for the document.
The corporate Balanced Scorecard will act as the basis for measuring progress against the long-term objectives, at bi-annual assessments. Team objectives in the Balanced Scorecard format will cover the various divisions, including mortgage loans, banking services, finance, information services, human resources and training and administration.
At the individual level, BESA will assist BBS to develop concept scorecards for the approximately 45 major job families. This will enable line management to design "best practice" performance agreements for all BBS employees.
The pilot project, which commenced in October, will last until March next year, and involves all of the BBS teams and employees.
Johan Botha, managing director of Analytix, comments: "The implementation of the Balanced Scorecard at each level within the BBS will go a long way to enabling the management to meet the objectives and place it on equal footing with global best practice in this regard."
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Analytix is a South African consulting and training firm specialising in the measurement and improvement of organisational and individual performance.
Specialising in performance management solutions, Analytix assists organisations to translate, implement and manage strategy, by linking objectives, initiatives and measures to an organisation`s strategy. Analytix facilitates the review of business processes and internal workflows that focus key employees on a common strategy to assist the organisation to become innovative and strategically focused.
Analytix supports the widely acknowledged Balanced Scorecard approach. The Balanced Scorecard provides a well-proven framework for measuring organisational effectiveness and performance in both profit and non-profit organisations.
The Balanced Scorecard is a management and measurement system that enables organisations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve centre of an enterprise.
Balanced Scorecard`s greatest strength lies in creating alignment between, and execution of, strategic activities. This provides management and employees with an understanding of explicit cause and effect relationships among the strategic objectives and activities.
Analytix is also SA`s most successful practical IT governance and COBIT training provider, with more than 400 IT managers and process owners from over 70 companies having attended its training and facilitation programmes since 2001.
Analytix furthermore assists companies in getting started with their COBIT implementations. This is done through a facilitation process applying COBIT principles and using a tool to select key COBIT objectives, assess IT process maturity, develop projects with corrective actions/activities and report to IT and corporate management in clear business terms, free of IT jargon.
These courses are SETA accredited which means that organisations trained by Analytix will receive considerable tax benefits as well as a portion of what they contribute towards Skills Development Levies.
Botswana Building Society
The BBS mission is to provide affordable property finance and attractive investment returns through efficient utilisation of resources in the spirit of teamwork for the benefit of its stakeholders. In this way it aims to be the premier provider of property finance and attractive investment returns in Botswana.
The society`s products include mortgage loans on residential properties, commercial and industrial property loans, short-term Loans, ordinary savings accounts, special savings accounts, fixed deposit accounts, subscription shares accounts and paid up shares.
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