Lincoln, Mass., April 5, 2005, 9:00 am -- The shareholders of Balanced Scorecard Collaborative, Inc., Painted Word Inc., and ThinkFast Consulting, Inc. announce a formal merger, forming the leading professional services firm solely focused on Strategy Execution and Corporate Performance Management (CPM) professional services. The newly-created company, Palladium Group, Inc., immediately brings together three existing leaders to provide complementary and industry-leading consulting, implementation, research, education and knowledge transfer services to clients globally.
Palladium has 8 U.S. offices, more than 225 employees, serving Fortune 1000 clients and other global industry leaders in the consumer goods, energy, federal government, financial services, life sciences, manufacturing, retail and utilities sectors. Representative clients include Big Lots, British Petroleum, Cadbury Schweppes, Caterpillar, CVS/pharmacy, DaimlerChrysler, EMC, FedEx Express, Fidelity, Gillette, Lockheed Martin, Pfizer, Saks Incorporated, Staples, the US Army, and Wal-Mart.
Headquartered in Lincoln, MA, Palladium will provide the most comprehensive coverage in the industry, with US-based offices in Boston, Chicago, Dallas, Detroit, Houston, Kansas City, New York, and Washington D.C., international offices in London and Sydney, and eight affiliates with 100 additional employees in 12 countries in Europe, Latin America and Asia-Pacific. The new organization will combine the practice areas of Balanced Scorecard, Performance Management, Planning, Activity Based Costing, Business Intelligence, Data Warehousing, and Operational Analytics. It will provide an integrated approach to transform their clients' ability to execute strategy and enhance business performance management by building new management processes, developing performance management competencies and enhancing the technical infrastructures.
Dr. David Norton, President and CEO of Balanced Scorecard Collaborative, Inc, will be President of Palladium. Dr. David Lubin, co-founder with Norton of Renaissance Strategy Group, will be Chairman. George McMillan, former Chief Executive Officer of CMGI and former Chief Operating Officer and Financial Officer of Renaissance Strategy Group, will become Chief Executive Officer. Joining the Board are Mark Thomas, Peter Laino and Charles Yoon from Monitor Clipper Partners, the private equity group backing the new venture. George Veth, President and CEO of Painted Word, and Tom Phelps, President of ThinkFast Consulting, will join the new organization as executive officers running the industry practices and practice management functions, respectively.
Balanced Scorecard Collaborative co-founders Dr. Robert Kaplan and Dr. David Norton, well-known authors of several best-sellers from Harvard Business School Publishing, including The Balanced Scorecard, Strategy-Focused Organizations, and Strategy Maps, will continue their education, research and publishing and encompass the entire Strategy Execution and Performance Management domain.
"We are pleased to partner with Dave Norton, Dave Lubin, George McMillan and the executive teams of these three great organizations to drive the future of the strategy execution and performance management industry," said Charles Yoon, Principal, Monitor Clipper Partners.
"We are very excited about our expanded potential to help companies dramatically improve– and sustain -- the results they get from executing their strategy," said Dr. Norton.
According to Terry Reuter, Manager at H&R Block, "We look forward to gaining additional advantage in executing our strategy and enhancing our business performance management by linking our ongoing efforts with the new services Palladium will now provide."
The new company also leverages a strong set of technology partner relationships including, Cognos Corporation (NYSE: COGN), Hyperion Solutions (NYSE: HYSL), IBM (NYSE: IBM), Microsoft Corporation (NYSE: MSFT) and OutlookSoft Corporation.
For more information, visit www.palladiumgroupinc.com
About the Firms:
Balanced Scorecard Collaborative (BSCol)
Founded by Balanced Scorecard co-creators Drs. Kaplan and Norton, BSCol is a global family of professional service firms helping clients use the Balanced Scorecard to successfully execute strategy. BSCol offers a wide range of services, including education (conferences, publications, research), training (public seminars, in-house, online), consulting (strategy, management, change), and technology (BSC Portal™, BSC First Report™, toolkits). For more information, visit www.bscol.com.
Painted Word, Inc.
Painted Word, Inc. is a professional services firm that delivers Corporate Performance Management consulting and implementation services that enable companies to leverage information to drive improved business performance across their enterprise. Painted Word's domain knowledge, interactive project approach and technical competence provide the foundation for our extensive expertise in delivering Corporate Performance Management solutions including scorecards, reporting & analysis, profitability and planning. For more information, visit www.paintedword.com.
ThinkFast Consulting, Inc.
ThinkFast Consulting, Inc. is dedicated to delivering Corporate Performance Management (CPM) solutions that integrate people, processes and systems to drive performance. Their solutions allow customers to improve planning, monitor results, analyze and anticipate changes and opportunities, and act. As one of the largest services firms in the nation solely dedicated to CPM, their customers are increasing profitability, enhancing client relationships and expanding market share. ThinkFast is headquartered in Chicago, and has local offices in Dallas, Detroit, Houston, and Kansas City. For more information, visit: www.thinkfast.com.