Business intelligence software vendors, including Business Objects, Cognos, and Hyperion, have been expanding into performance management, which uses budgeting, planning, and analysis tools to link business activities with corporate strategies and goals. Actuate acquired Performancesoft in January and operates the company as an Actuate division. The Performancesoft Track product was under development at the time of the acquisition.
Performancesoft Track helps managers monitor performance metrics to identify poorly performing activities and take steps to improve them, Actuate says. The software can be used to help manage complex strategic plans, such as Six Sigma quality improvements programs, team projects, or even tasks and projects conducted by individuals. The software provides customizable templates for defining activities and reporting tools for reporting activity performance.
Actuate says businesses today often use spreadsheet applications to track such activities, even thought spreadsheets are inadequate for the task, or complex project management tools. Performancesoft Track can be used for tracking risk management and regulatory compliance efforts, cost-management initiatives, business and operational plan execution, and IT governance programs.
Performancesoft Track is available now with user licenses starting at $200 and server licenses starting at $40,000.