What is the difference between the PHAROS approach and Balanced Scorecard?
Pharos suite support simple monitoring of the business results using predefined set of Key Performance Indicators. The Pharos package performance management implementation allows as follows: Monthly calculations of main business performance indicators made by using real enterprise database. Comparing the results with predefined business targets. Outlining the real trends in real-time Giving managers and entrepreneurs quick aggregated picture of the business performance. Working out various production scenarios Making simulations of decisions and its outcomes Making almost automatic benchmarking of businesses Balanced scoreboard can help managers achieve similar results but not in the same simplicity and scope of business vision.Balanced Scorecard methodology views to the company at different angles and prospective, has more comprehensive approach and require local definition of enterprise measurements, needs detailed enterprise data.
