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Less than 20 per cent of UK mid-sized organisations use Balanced Scorecards; No clear champion for Balanced Scorecards is key barrier to their implementation(M2 PressWIRE Via Acquire Media NewsEdge) Research by Source for Consulting (Source) in partnership with Advanced Business Solutions (Advanced) has revealed that less that 20 per cent of UK mid-sized organisations are using Balanced Scorecards for performance measurement. Source surveyed and interviewed 21 IT consultants who have experience of working with over 500 UK mid-sized organisations. Based on the consultants experience, it was highlighted that less than 20 per cent of the 500+ organisations they have worked with use Balanced Scorecards also known as Dashboards - in some way, with just over half of these using them as the primary focus for managing the business. Given that these statistics represent companies who have used IT consultants, the actual rate of Balanced Scorecard implementation across all UK mid-sized companies is likely to be even lower than these numbers suggest. The research identifies that the key barrier to implementation of Balanced Scorecards amongst mid-sized organisations is the lack of a clear owner or champion for the project (over 40 per cent of respondents highlighted this as an issue). Another key barrier is an organisational culture that doesnt support analysis and objective decision making. Simon Fowler, Managing Director of Advanced Business Solutions (Commercial Division), says, The majority of UK mid-sized organisations havent even begun to consider using a Balanced Scorecard approach for performance measurement. With the economy in turmoil, its understandable if companies arent looking at investing in Scorecards right now; however the smart organisation will recognise the intrinsic value of having clear measures for tracking the business progress, especially during a challenging climate. According to Sources research, in order for a mid-sized organisation to successfully implement Balanced Scorecards, a number of key actions are required. These include obtaining the buy-in of key executives; ensuring senior management spend time developing the measures; sending out the right messages about the importance of the Scorecards and making sure they are aligned with individual performance measures; and leveraging the right technology to ensure the Scorecard implementation is a success. With over 70 per cent of those surveyed identifying that the main benefit of a well-implemented Balanced Scorecard approach is the alignment of the senior management team, this provides a strong case for investing in Scorecards. The second and third most important benefits highlighted by respondents is the positive impact that Scorecards have on an organisations ability to track progress towards agreed goals and the clarity they provide throughout the organisation on what needs to be done. Fiona Czerniawska, Joint Managing Director from Source for Consulting adds, Starting down the Balanced Scorecard route may seem a challenging journey, however it neednt be costly and disruptive to the business. By considering the key elements of success from engaging senior management through to harnessing the right technology, a Balanced Scorecard approach can be implemented effectively, providing mid-sized organisations with valuable performance insight. Note to Editor To receive a copy of the research Balanced Scorecard: how to get it right and reap the rewards in mid-sized organisations, please email [email protected] About Sourceforconsulting.com Sourceforconsulting.com is a leading provider of information about the market for management consulting. Set up in 2007 and based in London, Source serves both consulting firms and their clients with expert analysis, research and reporting. We draw not only on our extensive in-house experience, but also on the breadth of our relationships with both suppliers and buyers. All of our work is underpinned by our core values of intelligence, integrity, efficiency and transparency. Sourceforconsulting.com is owned by Source Information Services Ltd, an independent company, which was founded by Fiona Czerniawska and Joy Burnford. Fiona is one of the world's leading experts on the consulting industry. She has written numerous books on the industry including: The Intelligent Client and The Economist books, Business Consulting: A Guide to How it Works and How to Make it Work and Buying Professional Services. Joy Burnford was Marketing and Operations Director at the UK Management Consultancies Association between 2003 and 2010, and prior to that worked for PA Consulting Group and has extensive experience of marketing consulting services. About Advanced Business Solutions www.advancedcomputersoftware.com/abs Advanced Business Solutions (Advanced) provides leading integrated business applications and services that enable public, private and third sector organisations to retain control, improve visibility and gain efficiencies whilst continually improving corporate performance. Advanced prides itself on getting close to its customers by understanding their businesses and responding to their evolving needs. Advanceds software systems comprise core accounting/financial management, procurement, human resource and payroll systems, integrated with a range of collaborative, document management and business intelligence solutions to extend the value and effectiveness of the finance, human resource and payroll departments. These can be delivered as a managed or bureau service. Customers are from both the public and private sectors and include Companies House, Newcastle City Council, WH Smith, Royal Bank of Scotland, Aer Lingus, National Express Group, DFS, RSPB and Great Ormond Street Hospital for Children NHS Trust. Advanced Business Solutions is a division of Advanced Computer Software Group plc, a leading supplier of software and IT services to the health, care and business services sectors. Contacts: Liz Ebbrell and Angela Mycock, Advanced Computer Software Group [email protected] +44(0)1625 856505 ((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to [email protected])). (c) 2012 M2 COMMUNICATIONS |