An effective business process is built on a set of well-defined and clearly stated business objectives. These key objectives articulate the ideal performance results that the company expects from that process. To monitor a business process so it stays focused on reaching the key objectives, a company chooses appropriate performance measures.
This tool outlines key objectives for closing the books, the outcome measures associated with each objective, and the activity measures that drive each outcome measure. Key objectives for closing the books include an efficient, corporate-wide accounting system; efficient, day-to-day accounting processes; and low costs to close the books.