Challenge
From 2009 to 2019, Co-op Bank followed the balanced scorecard strategic management system, and solely used Microsoft Excel to plan, track, and manage its performance. This was problematic in two ways. First, managers could only enter data when the Excel sheet was not in use by someone else, which became cumbersome and frustrating. Second, data integrity was an ongoing issue, and auditing became difficult.
It was clear that the Bank needed a solution to automate its balanced scorecard while allowing for collaboration and access to the freshest available data. In addition, the Bank wanted this solution to be cloud-based.
