What is a strategy tool? – LATO in a nutshell

Strategy tool

What is the fundamental reason for a strategy tool? What are the main benefits of using one? Are you wondering which industries and organizations should have a strategy tool?

LATO is a strategy implementing and monitoring software for all kinds of industries and organizations’ sizes. Organizations’ strategic plans, such as action and annual plans, are cascaded into the LATO system where selected people can update and display the success of strategy or situation of different projects. After this, users have a real-time view of the organization’s strategy and its progress in just one place. People who are responsible for strategic objectives and actions are able to update the status and progress to LATO (usually once in a month). Updates and reporting can be done in web-browser or via mobile app. Management and the executive board can display the big picture of strategy progress or if necessary, dig deeper into the organizational levels.

Why strategy tools are used?

Data collection might take a lot of employees’ workload, especially in big organizations. In the worst-case scenario, annual action plans are separated from daily operations, and lack of monitoring might slow down the execution. Monitoring and reporting are only number-based and reacting to the main pain points is too slow due to retrospective reporting and monitoring.  

Strategy tools help the management to focus on managing the real-time situation. With help of the strategy tool, strategic objectives can be crystallized for different units and further chained to team or employee levels. As a result, the organization has coherent planning, implementing, and monitoring of the strategy. This significantly increases the probability of your organization’s strategic success.  

If you feel that a strategy tool might be useful for your organization, feel to contact us anytime! 

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