Is there software available to manage our balanced scorecard initiatives? Or will we have to develop our own in-house?

There are software options available, and most of those options would be more cost effective than developing your own software. A couple options are:

ActiveStrategy Enterprise (ASE) scorecard software. It is a flexible system, and is available as a SaaS application or installed within your network. This software can be used to manage scorecards in businesses of all different sizes. ASE was created to improve upon manual Balanced Scorecards by managing critical behind the scenes work. It enables users to create and manage metrics, view and create charts, and keep track of initiatives and action items.

QuickScore Performance Information System. This system , also available as a SaaS application or in-network installation, is designed to automate balanced scorecard management. This automation adds structure to a business’s scorecard system, helping simplify and communicate information quickly. This helps users make informed management decisions. Quickscore also offers alerts when metrics dip below a pre-determined level.