Strategy management applications provide a packaged approach to support strategic planning, modeling and monitoring to improve corporate performance, accelerate management decision making and facilitate collaboration.

These solutions are usually tied to strategy maps or methodologies, such as the balanced scorecard. Strategy management comprises:

• Strategic planning is the creation of high-level business plans to evaluate the impact of different strategic alternatives. Strategic planning includes long-term financial planning, which creates a high-level perspective of revenue, expenses, balance sheet items and cash flows to show the financial impact of different strategic alternatives.
• Initiative/goal management includes project-management-like tools to enable responsible managers to execute specific tasks related to a strategy.
• Scorecards and strategy maps are used to record strategies, objectives and tasks, measure performance and provide a collaborative environment for effective, enterprise wide communication.
• Dashboards (or cockpits) aggregate and display metrics and KPIs, enabling them to be examined at a glance before further exploration via additional BI tools.