Here at Cascade, we pretty much live and breathe strategy. It's our core currency, and without it our strategy execution software platform wouldn't need to exist. Because we're in so deep, it's easy to forget that the majority of people out there don't actually know what strategy execution software even is! As one of the most popular platforms (if not the most popular) out there, we figured it was part of our responsibility to explain exactly what it is, what it does and why you might need it.
Strategy execution software
To help, we've created an info-graphic below that shows the different parts of a typical strategy execution software platform. Whilst different platforms will have different features, the one thing they should all have in common is this fundamental principle:
Strategy isn't a thing that you do in addition to running your business. It is your business. Every single KPI, project and task that you undertake should have a clear link back to your strategy. The organizations who succeed are the ones who take this principle to the heart of their existence.
There are three fundamental components to strategy execution software platforms:
1. PLAN
No surprises here, but strategy execution software should give you a really quick and easy way to create a strategic plan. You'll want to experiment with a few different frameworks in the tool to figure out which works best for your organization.
You'll use the tool to put together the different layers of your strategic plan, starting with high level goals and getting down to the 'how'. A typical strategic plan will consist of focus areas, objectives, goals, KPIs and projects.
Strategic planning software doesn't usually help you come up with the actual strategy (though a few have tools to help you do this). That bit needs to come from you!
Tools you'll replace:
PowerPoint, Excel
2. MANAGE
Once you have a strategic plan, you'll need a set of tools to deliver and execute on the different components. These tools exist today in the form of project management tools, goal management systems, and even task managers. The difference with a strategy execution software platform is that they're all housed in one system. You'll also have the ability to directly link them back to the outcomes in your strategic plan.
You'll usually have the option of using the management tools available in the platform, or connecting your existing favorite tools through integrations.
Tools you'll replace:
MS Project, Excel, BaseCamp, Asana, Trello
3. TRACK
Tracking whether or not your plan is working is paramount to success, and a good strategy execution software platform will deliver a range of reporting tools.
Typically those tools will include high level reports of how the components of your plan are moving the needle against your strategic outcomes. You should also have access to more detailed reporting tools that allow you drill into specific projects. Ideally you will also be able to create drag-and-drop dashboards to avoid the need to create PowerPoint presentations.
Tools you'll replace:
PowerPoint, Microsoft Power BI, SharePoint
All of the strategic execution software platforms offer slightly different things - but the best should provide functionality in all the three areas above, and ideally more. We're extremely proud of our own platform Cascade (and would love for you to give it a spin for FREE - No credit card required!) - but here's a list of other strategy execution software platforms from the comparison site Capterra - to help you figure out which one best meets your needs.
