throughput accounting: What benefits does the Balanced Scorecard provide?

Functional specialization must be integrated into customer-based business processes.

Interested Monitor

Throughput accounting is a shorthand way of putting all key measures into a dashboard that can be used to monitor results, at present, there is an argument about whether the role of the management accountant in organizations has changed when the business environment changed at the same time, subsequently, depending on your industry and the specific organization you are interested in tracking, there are a number of KPI types your business will want to monitor.

Strategic Activities

Larger enterprises may take longer, the balanced scorecard is a strategic planning and management system that is used extensively in business worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals, uniquely, balanced scorecards have long been used in strategic business management to track key performance indicators.

Competitive Strategy

Some balanced scorecard software packages allow you to build your strategy map directly in the software, there are standardised performance measures that have been created which almost any business can use. As a result, align performance measurement systems with your strategy and organizational design to optimize execution and build competitive advantage.

Want to check how your throughput accounting Processes are performing? You don’t know what you don’t know. Find out with our throughput accounting Self Assessment Toolkit: