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Business Intelligence tool provider CorVu has launched software to bring the benefits of Balanced Scorecard management to medium sized businesses. Balanced Scorecard is a method for firms to audit the performance of their organisation. The technique, devised by Harvard professors Robert Kaplan and David Norton,measures the effectiveness of a business in four ways: how well the organisation invests in itself and staff development; its efficiency; customer satisfaction;and its profitability. Earlier this year Kaplan and Norton founded Balanced Scorecard Collaborative, a consultancy that certifies software packages to measure these metrics. So far five vendors have qualified – CorVu, Oracle,SAP, PeopleSoft and Gentia. "A lot of query and reporting tool vendors claim to have software that will help firms develop Balanced Scorecard applications,so Kaplan and Norton established a standard by which these claims could be judged", said Alan Missroon, CorVu's vice-president of marketing. "We work with a small firm or a department of a large one to define what perspectives they want to measure their business by, their objectives and what metrics we can use." Scorecard Express costs about $35,000 (£23,000)and lets businesses deploy a Balanced Scorecard application within seven days.
