Once the crucial element in determining whether a business initiative was possible, technology is no longer even on the critical path. Dramatic advances have made technology so agile and powerful that it can accomplish virtually anything a company requires. According Karl Taylor, Senior Vice President and CIO of CVS/pharmacy, ten years ago, integrating an acquisition into the corporate IT infrastructure took 24 months to complete. Today it takes just 4 months.



“Before you could do only what the technology allowed or enabled,” agrees John Schoenherr, Vice President at Oracle Corporation. Today, technology is no longer on the critical path.

Now, the gating factors are business and operational controls. And many companies are struggling with this, because until recently business tools have not been available to help companies objectively and consistently identify, assess, mitigate, and monitor risk action plans to improve its business processes. With the advent of sophisticated risk management solutions, however, that is changing.

Why is Balanced Scorecard not enough?

At the SIMposium 2005 conference for financial and technology executives held recently in Boston, balanced scorecard was a hot topic among the participants. The balanced scorecard approach can be enormously useful in connecting performance to corporate objectives, but it is imperative that companies avoid the dangerous pitfalls of implementing this strategy, most notably metric overload and tunnel vision.

Case in point: In response to a request for its key performance metrics, one large insurance company proudly presented an eight-inch binder of pages chock full of data in eight-point type. While impressive, the level of detail was so overwhelming that the company was suffering from metric overload.

Tunnel vision occurs when support departments like IT, finance and legal zoom in too closely on their own metrics and fail to take a broader look at how their performance influences the success of its clients, namely operations. An IT organization that effectively measures its performance against SLAs but is unable to gauge how it contributes to corporate objectives is falling short.

To integrate the balanced scorecard approach effectively across functional silos companies need to add another important discipline to their planning and analysis: risk management.

Closing the gaps with risk management.

-1-

1  2  3  

   Next Page

Explore Our Topics

  • EDITOR'S BRIEFING
ebizQ editorial highlights and updates, compiled by ebizQ staff
  • BaaS bonus: In this podcast, Gartner Research Director Gordon Van Huizen discusses the Backend as a Service marketplace and the approach's pros, cons and challenges.
  • Cloud quiz: How much do you know about business process management in the cloud? Test yourself with this six-question cloud BPM quiz.
  • Three key steps: Clay Richardson of Forrester Research describes ways to emphasize user experience in business process design.
  • ebizQ editorial: Browse ebizQ's collection of independent editorial content, including articles, tips, Q & As, podcasts, guest columns, book excerpts and more.
  • Virtual Conferences
  • Webinars
  • Roundtables

BPM in Action

March 10, 2011

The sixth annual BPM in Action 2011 Virtual Conference will explore cutting-edge market developments in BPM and describe how to leverage them for improved business operation and performance. More

View All Virtual Conferences

Smart Case Management: Why It's So Smart.

Date:Nov 05, 2009
Time:12:00 PM ET- (17:00 GMT)

REGISTER TODAY!

Date:Oct 29, 2009
Time:15:00 PM ET- (19:00 GMT)

REGISTER TODAY!
View All Roundtables
  • Research Library
  • Podcasts
  • News

Joe McKendrick: Part II of II: Designing Evolve-ability into SOA and IT Systems

In part two of Joe McKendrick's recent podcast with Miko Matsumura, chief strategist for Software AG, they talk about how SOA and IT systems need to change and grow and adapt with the organization around it.

Listen Now

Phil Wainewright: Helping Brands Engage with Social Media

Phil Wainewright interviews David Vap, VP of products at RightNow Technologies, and finds out how sharing best practices can help businesses understand how best to engage with online communities.

Listen Now

Peter Schooff: Making Every IT Dollar Result in a Desired Business Outcome: Scott Hebner of IBM Rati

Scott Hebner, Vice President of Marketing and Strategy for IBM Rational, discusses a topic on the top of every company's mind today: getting the most from IT investments.

Listen Now

Jessica Ann Mola: Where Will BI Fit In? Lyndsay Wise Explains

In BI, this tough economy and the increasing role of Web 2.0 and MDM are certainly topics on people's minds today. WiseAnalytics' Lyndsay Wise addresses each of them in this informative podcast.

Listen Now

Dennis Byron: Talking with...Deepak Singh of BPM Provider Adeptia

Deepak Singh, President and CTO of Adeptia, joins ebizQ's Dennis Byron in a podcast that gets its hand around the trend of industry-specific BPM.

Listen Now
More Podcasts
  • Most Popular
  • Quick Guide
  • Most Discussed

Quick Guide: What is BPM?

Learn More

Quick Guide: What is Event Processing?

Smart event processing can help your company run smarter and faster. This comprehensive guide helps you research the basics of complex event processing (CEP) and learn how to get started on the right foot with your CEP project using EDA, RFID, SOA, SCADA and other relevant technologies. Learn More

Quick Guide: What is Enterprise 2.0?

A lot of people are talking about Enterprise 2.0 as being the business application of Web 2.0 technology. However, there's still some debate on exactly what this technology entails, how it applies to today's business models, and which components bring true value. Some use the term Enterprise 2.0 exclusively to describe the use of social networking technologies in the enterprise, while others use it to describe a web economy platform, or the technological framework behind such a platform. Still others say that Enterprise 2.0 is all of these things. Learn More

Featured Bloggers

Steven Minsky's Latest Blog Posts:

Read Steven Minsky's Blog
Scott Cleveland's Latest Blog Posts:

Read Scott Cleveland's Blog
Adrian Grigoriu's Latest Blog Posts:

Read Adrian Grigoriu's Blog
Dion Hinchcliffe's Latest Blog Posts:

Read Dion Hinchcliffe's Blog
Michael Poulin's Latest Blog Posts:

Read Michael Poulin's Blog
Noam Tamarkin's Latest Blog Posts:

Read Noam Tamarkin's Blog
Janne J. Korhonen's Latest Blog Posts:

Read Janne J. Korhonen's Blog

View All ebizQ Bloggers