Scorecarding. (Technology Tools).

Hyperion Solutions has released Performance Scorecard 2.0, its latest release in a string of performance-related financial reporting, modeling and benchmarking tools. The new product supports frameworks such as Stem Stewart's economic value added (EVA"), through a special contractual arrangement with Stem Stewart, as well as the Balanced Scorecard and Andersen's Value Dynamics'. It is also WAP-enabled (employing a wireless protocol), allowing employees to share information on personal digital assistants and other handheld devices.

Chris Leone, vice president of product marketing for applications for Hyperion, said Performance Scorecard recognizes that the financial aspect of the scorecard too often takes precedence over other critical measure, like customer relationships. The product seeks to "bubble up" information from lower levels of the organization and direct it to high-level strategic targets, aligning goals to critical success factors, he said. Performance Scorecard 2.0 also includes reward and compensation plans with individual and overall strategic objective. In addition, it offers benchmarking data from Hackett Research, so companies can compare industry norms or best practices when setting goals. In fact, Hyperion says the product has embedded in it more than 2,600 metrics for more than 80 processes to help organizations set realistic targets and find areas for improvement.