Top 4 Must-Haves for Your New Risk Management Information System (RMIS)

What you must have for your new risk management information system
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We all have non-negotiables, especially when it comes to choosing a new RMIS. With so many features revolving around this software, JDi Data has narrowed down the choices to the Top 4 Must-Haves for a Risk Management Information System (RMIS).

Customer Focused Software/Vendor User Experience

When evaluating software options, the first thing that has to be checked off your list is that it’s customer-focused. What does this mean? It means that the vendor is focused on making your experience using the software as easy as possible.  Can the vendor have a track record of listening to the needs of the clients? Do they constantly update the software?  Improve functions?

Additionally, potential users should inquire about:

  • Customer service quality
  • How often do they meet with clients
  • Ease of implementation

 

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If the software isn’t user-friendly, then it’s not for you. It’s meant to make you work smarter not harder.  If the system doesn’t revolve around your needs then that’s an indicator to find another one that does.

Operational Efficiency / Workflow

All business-to-business software needs to be systematic to make the user efficient with their time. It has to be organized, with well-displayed information, to increase workflow. In other words, it must be Agile.

Examples of an efficient RMIS are:

  • Fast, to reduce delays and lag time
  • Have automated parts integrated for seamless integration with multiple parties involved
  • Automated features

 

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With these functions embedded into RMIS, a user’s productivity will be significantly better. Operational efficiency serves to save an organization valuable resources, allowing their employees to focus on more pressing issues.

Data Security

Data security is an extremely important factor to consider during your decision to choose a new RMIS. Users want to make sure the data is housed in a secure location. Whether it is a 3rd party vendor, such as cloud storage, or in your environment.

If you choose to host the information, make sure:

  • I.T Department  can support the bandwidth and infrastructure to support it
  • Have a configurable login/password strength  and that database field encryption is available
  • I.T Department is knowledgeable about the software

 

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If you choose to have a 3rd party host:

  • Have 24/7 support
  • Have backups for any failures
  • Well document disaster recovery plan

 

The reality is that your digital data will always be at risk. Partnering with a provider who is evolving with the latest trends and securing them, is vital in ensuring.

Adaptability/flexibility

Systems have to adapt to the ever-changing needs of your organization. The more configurable an RMIS is, the more likely it will fill future business needs. The basic features of an RMIS must be able to configure:

  • Reports/chart data
  • Business rules
  • Database capabilities

 

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By having software configurable to your needs, the user will be able to easily complete the simplest of tasks in a way that improves their workflow.

For example, let’s take a look at reporting. When you pull a report, would you find it easier to:

  • Extract the data and put it into a meaningful report
  • Not be able to extract the data from the software
  • Be able to customize charts from the reports

 

These four distinct elements make up an unbeatable claims management software that will meet all your needs. If it doesn’t give you all these “Must Haves” then it’s not the system for you.

By keeping in mind these “non-negotiables” and thinking about the needs of your business, you will be able to narrow down choices to the top RMIS’s available on the market.