What is Scorecard in SAP EPM-SM - Strategy Management?

SAP Term: Scorecard

• Component: EPM-SM

• Component Name: Strategy Management

• Description: The scorecard is a strategic management tool used to measure progress toward specific goals and objectives. It ensures alignment between business activities and the organization's strategy and vision. Scorecards enable systematic progress monitoring through the use of key performance indicators KPIs, and alert stakeholders to issues and opportunities. When issues and opportunities are identified, scorecards allow access to supporting detail via drill-down functionality.

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• Key Concepts: 
  Scorecard is a component of SAP EPM-SM Strategy Management that helps organizations track and measure their performance against their strategic objectives. It provides a visual representation of the progress made towards achieving the desired goals and objectives. The scorecard also allows users to set targets and monitor progress against them. 
  
  How to use it: 
  Scorecard can be used to track performance against strategic objectives by setting targets and monitoring progress. It provides a visual representation of the progress made towards achieving the desired goals and objectives. The scorecard also allows users to set targets and monitor progress against them. 
  
  Tips & Tricks: 
  When setting up a scorecard, it is important to ensure that the goals and objectives are clearly defined and measurable. Additionally, it is important to ensure that the data used for tracking performance is accurate and up-to-date. 
  
  Related Information: 
  Scorecard is part of SAP EPM-SM Strategy Management, which also includes other components such as Balanced Scorecard, Strategy Maps, and Dashboards. These components can be used together to create an effective strategy management system.