Modeling a balanced scorecard in financial service center : case study

The focus of this thesis is to model a Balanced Scorecard (BSC), the performance measurement system selected for this constructive case study. The BSC has proved to be an adequate solution to implement and follow up the business strategy. The case company consists of a financial service center called Global Transaction Services (GTS) located in Finland. Its major strategic goals were identified utilizing internal GTS’ documents and performance measures were assigned to each goal. The researcher is one employee at a department of GTS, the purchase invoice handling (PIH) department. The present study found lack of measures to capture the internal customer satisfaction. Moreover, researcher suggests the incorporation of employee satisfaction measures to the case company’s BSC. The scientific value of this thesis is the drafting of a BSC to a financial service center and the identification of the main problems in the different phases of the BSC design as well as other kind of observations concerning the modeling of a BSC. Case company currently uses a BSC which will be analyzed, its week points will be pointed out and solutions will be proposed. The thesis consists of a theory part where the framework for designing a BSC is introduced and a case study part where the modeled performance measurement is explained in detail. The developed BSC is a model which can be a framework to other financial service centers with similar strategic goal as GTS and can be used to fulfill their corporate strategies. The case organization is an internal service unit which produces financial information to UPM Kymmene, a forest industry group.