stakeholder information management system

Each industry is unique when it come to stakeholder management.

Investing time to formally define your organization’s objectives related to the collection, management, and reporting of stakeholder information is critical.

It’s important to make an educated decision when selecting stakeholder management software (and accompanying professional support services) because of the potential impact it can have on the outcome of stakeholder-driven projects and initiatives.

Five important factors to consider when choosing a stakeholder information management system

1. Scalability

Can the platform grow to match your organization’s future needs? Make sure the software can adapt to increases in the number of users and additional projects.

2. Integration

Does the stakeholder management program need to integrate with any other software you are using in order to be effective? For example, ensuring integration with your email and database systems is important.

3. Software-as-a-Service (SaaS) vs. onsite servers

There are advantages to both systems, but SaaS offers lower start-up costs and makes it easier to collaborate with consultants and other business partners.

4. Reporting

A key software feature is robust reporting capabilities. It’s important for software to enable you to report the communication history of a project but also to showcase the transparency of the events that occur.

Reports should summarize stakeholder engagement campaigns but also have the ability to go into great detail and be supported by original records such as emails, letters, meeting minutes etc. If misunderstandings occur, the ability to dig into a report to review original messages and interpretations can go a long way towards resolving an issue.

5. Product demo

A customized product demo is essential.

A 1-1 product demo is one of the best ways to understand the capabilities of a stakeholder information management system – and a good initial indication of how well the platform and professional support staff will meet your needs.

Consider the following tips to get the most out of your stakeholder management software demo:

  • Involve your company end users: they will have questions about their workflow and how the new software affects it.
  • Create a process script in advance: make sure you advise the vendor what needs to be covered in the demo.
  • Create detailed scorecards: allowing you to objectively compare each vendor’s product.

Interested in learning more?

Check out our free stakeholder management software buying guide  – This e-book will walk you through a series of important pre-purchase considerations and will offer up tips and resources aimed at helping you make an informed buying decision.

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