Vision
/ Mission – Your ultimate objective.
The Vision / Mission
statement is the crux of the entire
business strategy. It states where
the company wants to go and how it
can it get there. This strategy is
the bridge that guides you to your
ultimate goal COVENARK® - STRATEGIST
. The Strategist initiates the implementation
and review process of your balanced
scorecard with the vision / mission
of your organization. The clear depiction
of your vision / mission statement
helps the people to understand the
organization's ultimate objective.
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Strategy
Map - Define and visualize
your strategy
You can define all your
strategic objectives within the four
perspectives, Finance, Customer, Internal
Process and Learning & Growth,
that focus on the Vision and Mission
of the company. A color coded strategy
map gives a bird's eye view of the
company strategy and a macro level
objective performance review.
When cascaded at
the various levels, you can monitor
how these specific objectives impact
the overall business, through linkages. |
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Dashboards
– Use visual intelligence
COVENARK® - STRATEGIST
gives you the capability to monitor
your organizational radar, anytime,
anywhere. Personalized dashboards
provide a 360 degree view of the entire
organization, customized to display
the status of objectives, measures,
indicators in variety of graphical
forms. COVENARK® - STRATEGIST
also allows integration with specialized
dynamic dashboard design software,
suited to your individual preference.
You can carry out what-if analysis
and business case simulations using
dials, gauges, charts, area maps,
sliders etc. |
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The
Scorecard –
Execute your strategy
The BSC page is an interactive
scorecard table that presents a single
page view of all the objectives, measures
and initiatives that drive the strategy.
You can carry out a comprehensive
analysis of the status of the measures
as per the targets, thresholds and
benchmarks specified. Owners can customize
the colors for the measure related
data and details to depict appropriate
status. |
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Statometer
– Monitor
KPI performance status
The Statometer
presents you the status of each measure,
BI indicator and initiatives, at a
glance. |
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Strategic
Themes
- Define business drivers
Strategic Themes allow you to categorize
objectives according to your business
drivers, such as Growth, Efficiency,
Alignment and Control etc. Performance
measurement for driving business results
gets a whole new meaning when you
deal with it in a strategic theme
based evaluation format. |
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Drill
Down –
Go down to the root cause
You can drill down each top level
Measure or BI indicator, to its deepest
sub- element that makes up the formulae,
enabling you to zero in on areas causing
concern. A complete review of the
selected measure gives you comprehensive
information on the current (present)
and targeted values for that particular
measure or KPI.
Different types of graphs such as
Line Bar, Variance graphs, Actual
Vs Target, Previous Period and Previous
year , evaluation;
experience to support your decisions. |
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KPM Mapping
–
Map your measures
KPM mapping
allows user to view all the measures
with their linkages made by user.
There are a few measures that might
contribute to a measure under consideration.
The system provides a functionality
of linking these measures to the measure
that they contribute to. Once this linking
is done the user can view the KPM tree
which displays all the linked measures
in a diagrammatic way. Thus, KPM Mapping
helps the user to review the measures
that might contribute directly or indirectly
to that Key Performance Measure.
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Initiatives
and Projects – Create
action plans to achieve your goal.
COVENARK® - STRATEGIST helps
you prioritize and monitor key initiatives,
and TQM and internal processes that
must be focused on, to achieve specified
goals. The Initiative Summary list
shows a list of all the initiatives
linked to each objective, their owners,
priority, status time lines, cost
and resource allocations.
Before you do the Projects Right,
you must define the Right Projects
that must be done. COVENARK® -
STRATEGIST integrates with PRIMAVERA
to help y ou to prioritize your projects
by aligning them to your business
strategy. Projects maybe prioritized
based on their contribution to a strategic
objective and its impact on the strategy,
based on weighted parameters such
as ROI, cost, time, resources and
status. Ranking projects helps you
optimize them to drive multiple Strategic
Objectives. |
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Reports
– Analyze the trends
COVENARK® - STRATEGIST has an
excellent reporting tool that bridges
the information gap. It allows you
create ad-hoc reports, analyze trends
by selecting a group of specific measures
and KPI for parallel performance evaluation.
You can compare their performance
using graphs, bar charts, pie charts
and percentage variances. Standardized
reports can be created, saved and
evaluated as per different data sets
for facilitating a quick review process. |
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Analytics
COVENARK® - STRATEGIST has powerful
Cause-Effect , Business Modeling,
What-if and Impact Analysis tools
that empower your key executives /
you to make astute and informed decisions.
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Cause-Effect
– Identify
the cause; ascertain the effect
You may validate the actual impact
of one strategic measure of BI Indicator
with another and identify their impact
on the performance of your business
. ‘Cause-Effect' uses regression technique
to calculate the correlation coefficients
between specific measures and KPI,
using historical data. It allows the
decision makers / you to understand
all the linkages that unify or isolate
the business drivers . Vital linkages
which may not be obvious to begin
with, can bring in clarity to take
intuitive decisions and drive the
business in the right direction. |
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Forecast
– Predict the changes
‘Forecast' is a critical aspect
in managing business changes. It helps
you envisage the future; change the
present. You can forecast the value
or the change that is likely to occur
in a particular measure or KPI depending
upon its correlation with a linked
measure. It further validates the
‘Cause-Effect' relation to help you
zero in on closest values of the trends
in the future
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Business
Modeling – Simulate
your business scenarios
‘Business Modeling is a Simulation
– Visualization – Transformation tool.
You can create business models that
simulate business conditions and see
the impact of these conditions on
business performance. The business
models are created with the help of
the existing measure elements and
KPIs that quantify your performance.
The theme of the model can be saved
and accessed for future analysis with
different data sets. It will help
you to make the required changes and
run your business with more control
and less by chance. |
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Decision
Tree – Identify your
Decision Makers
COVENARK® - STRATEGIST can be
mapped according to the hierarchy
and functional reporting structure
of your organization to suit the way
your business works. You can cascade
through BI arenas that focus on a
specific SBU, division and even a
branch office within a region . |
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Organization
Chart – Create your
reporting structure
The Organization Chart
gives an overview of the hierarchical
structure of the organisation and
defines individual ownership of objectives,
measures and indicator various levels.
It depicts the levels of functional
reporting. It also allows you to maintain
a brief summary of their roles and
profiles, ensuring transparent evaluation
of overlapping functional responsibilities. |
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Responsibility
Summary – Categorize
individual responsibilities.
Responsibility summary enumerates
the individual profile responsibility
in a tabular format. Individual profile
responsibility list is in terms of
objectives, measures and initiatives.
Individual performance evaluation
i.e. KRA stems from this particular
list. |
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Templates
– Create your performance management
structure
Templates are easy to understand,
standard formats which help the user
to enter new Objectives, Measures
and Initiatives or modify the existing
ones. The entire structure of the
balanced scorecard / BI arena is created
using these templates.
The templates allow the user to have
a detailed understanding of the objectives,
measures and initiatives as they contain
fields that provide related descriptions,
derivations and parameters for a particular
hierarchy . |
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Review
Meeting Module – Get
together & evaluate your performance
COVENARK® -
STRATEGIST has a lucid meeting scheduler
that enables you to record Agenda,
MOM, Action plans and review their
status. BSC Review Meeting list enumerates
all the review meeting details like
date, subject along with report and
MOM.
Review Meeting Report is a record
and status of all the key points reviewed
in the meeting. You can select meetings
of particular date and hierarchy to
get details on earlier meetings. |
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Corporate
Communication – Communicate
your strategy; Ensure transparency.
Communicate your vision and mission
across the organization. Discover
business intelligence through News,
Events, and Meetings and find answers
to frequently asked questions. |
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Knowledge
Gateway – Build your
knowledge warehouse
Use COVENARK® - STRATEGIST to
build a repository of information
on select subjects to support your
decision making team. Share critical
business knowledge by storing links
and URLs to your corporate intranet
or to any relevant subject on the
internet. |
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Control
and Security – Controlled
access
COVENARK® - STRATEGIST's robust
security features provide controlled
access to different categories of
users. The “Matrix of Accessibility”
has login ids and encrypted passwords
with four levels of control. |
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Ease
of Implementation –
Deploy it fast; manage it easily.
MPOWER has a well tested methodology
to deploy COVENARK® - STRATEGIST
in the shortest period of time, supported
by our team of expert business and
technical consultants. |
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