Tag: Choosing the Right RMIS

RMIS Configurability–Choosing a system that will meet your needs

Configurability and Customization—two words you’ve no doubt come across when researching RMIS systems. More often than not, they’re used interchangeably. But do the two terms mean the same thing? If not, what’s the difference? Is one preferable?

Despite the fact that each term is often used in place of the other, there is a difference. If “This is going to be expensive.” is your first thought upon seeing or hearing the word custom (or a variation), you are correct. Customized vs. Configurable Software Solutions: Which Should You Choose? does an excellent job of breaking down why this is the case.

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Getting the most out of your RMIS demo

RMIS Demo

While the work of planning and budgeting, analyzing requirements, and researching vendors are of critical importance, system demonstrations mark a significant milestone in the selection and purchase of RMIS software. As “Best Practices: How to Evaluate Software Demonstrations” points out, RMIS demos are “where you see the systems in action and learn what they can really do for you.”

Remember that this is your demo

Knowing what to expect as you enter this phase of the buying process ensures that you’ll get the most out of your RMIS demos. Each demo needs to show how proposed solutions can work to fix the specific challenges your organization faces both now and in the future. Be sure to find out not only what the system offers today, but also the rate of innovation, as well as your ability to take advantage of new functionality as it becomes available. How often are new features introduced? Are upgrades required to gain access? Do they cost extra?

Here are ways you can prepare for a RMIS demo that will help you assess how well both system and service will meet your risk management objectives, both now and in the years to come.

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Evaluating a RMIS: What questions should you be asking vendors?

Question mark sign

Your internal assessments suggest that it’s time to move forward with the purchase of a new RMIS. In our recent post, “Tips for Selecting the Right RMIS“, we looked at potential next steps that range from considering the inclusion of other departments in the selection process to researching vendors to suggestions on what to look for in a new system.  As you move into the next phase of the buying process, to ensure you get the most out of your investment, there are many questions to ask vendors when evaluating their RMIS offerings.

Consider grouping the questions into five categories:

  • Flexibility
  • Scalability
  • Security
  • Usability
  • Service Model

Use the goals and priorities of your organization to weight the importance of sections or individual questions. Remember that getting clear answers to all your questions is critical to the success of a new system.

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Getting more from your RMIS implementation

This is the third part of a three-part series that we hope will prove helpful in the RMIS selection process. Part 1 explained how moving from spreadsheets to RMIS can be beneficial and included some suggestions for determining if the switch to a RMIS might be warranted. Part 2 provided tips on researching vendors, suggestions for including stakeholders in the buying process, and thoughts on the potential for a new RMIS to solve issues that commonly exist between risk management and other departments.

You’ve put in the research, evaluated RFPs, and interviewed vendors. After viewing demos and getting answers to questions, you’ve learned more about what makes each vendor’s technology and service unique. It seems that you’re finally closing in on selecting the RMIS that best fits the needs of your organization.

There is, of course, a lot of ground to be covered between now and the point at which the work of putting your system in place is begun. Yet it’s likely—based on first-hand experience or “horror stories” you’ve heard along the way—that you have your fair share of concerns related to implementation.

System implementation marks the transition from the known—however imperfect—to the unknown. Even the promise of moving to a RMIS that significantly improves the organization’s ability to manage risk, insurance, and claims data is not likely to make the change completely seamless. This is where selecting the right partner can make all the difference.

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