Pilot Software has announced that Pilot BusinessMonitor, its performance management solution, has been Balanced Scorecard Collaborative Certified. Under the terms of the certification, Pilot BusinessMonitor is designated as compliant with Balanced Scorecard Functional Standards, as maintained by Balanced Scorecard Collaborative.
The certification is designed to eliminate confusion in the market by educating suppliers and buyers about the important elements of a balanced scorecard management system.
Certification allows Pilot to promote Pilot BusinessMonitor as certified by the creators of the balanced scorecard. The Balanced Scorecard Collaborative Web site will also identify Pilot BusinessMonitor as certified.
"The balanced scorecard has become the de facto standard framework for managing well rounded companies," says Stewart Prentice, Pilot products manager at Global Technology, the local distributor for Pilot Software. "However, many balanced scorecard initiatives are run and executed manually, without the benefits integrated digital technology and analytics can bestow. In addition, the balanced scorecard tends to operate outside the mainstream of business and IT initiatives, when it should inform and be informed by them. Pilot BusinessMonitor addresses these and other challenges.
"In particular, it helps ensure that companies can manage far more than just their financial information using their reporting and business intelligence platform of choice, which is one of the key goals of the balanced scorecard approach."
"We developed the Balanced Scorecard Collaborative Certified Programme based on Balanced Scorecard Functional Standards to ensure that the balanced scorecard name maintains meaning, and that any investment made in associated software retains its value," says Dr David P Norton, president of Balanced Scorecard Collaborative.
Users of certified applications are assured that those applications are compliant with Balanced Scorecard Functional Standards, and can thus be used as the foundation of a strategic management system based on the balanced scorecard.
"Pilot BusinessMonitor`s highly customisable and flexible solution works with a wide range of standard or proprietary performance management frameworks and methodologies, including the Balanced Scorecard (BSC) approach," adds Prentice.
"Balanced Scorecard certification reinforces our ability to provide integration-friendly business analytics solutions that help companies make more profitable decisions."
The certification process consists of a demonstration of the product by the application provider, a documentation review, customer interviews, and a Balanced Scorecard Collaborative lab test.
Balanced Scorecard Functional Standards were announced in 1999 by Balanced Scorecard Collaborative, Inc, the organisation that facilitates the worldwide awareness, use, enhancement, and integrity of the balanced scorecard as a value-added management process. The standards form the basis for certifying software from suppliers seeking to comply with the methodology of Dr Robert S Kaplan and Dr Norton, creators of the balanced scorecard concept. The full set of standards can be viewed at www.bscol.com/certification.
Pilot BusinessMonitor is a full-featured, integration-friendly performance management solution that enables organisations to improve operational effectiveness by helping them define strategy, translate it into operational objectives and then measure corporate performance against those objectives.
Pilot BusinessMonitor has features such as an intuitive, browser-based interface; out-of-the-box analysis capabilities; an open, flexible architecture; and built-in Time Intelligence to automatically link performance management to corporate fiscal calendars.
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