Okay, you've now done your research and due diligence. You've evaluated different systems and RMIS vendors. You've worked out the return on investment. And you are confident of the great benefit a risk management information system can bring to your organization.
Now you need to convince your organization's decision-makers to give the go-ahead. Not always an easy task, depending on the organization and the personalities you're dealing with.
Following are some compelling arguments that you may tailor to decision-makers in your company:
Chief Finance Officers
A risk management system will help you keep the organization's stakeholders happy by reducing costs, allowing improved profit margins to grow the business in line with corporate strategy.
Chief Information Officers and IT Directors
A RMIS can deliver a rapid return on investment. It requires clearly identified, and relatively limited, input from the IT department during implementation. And it comes with full support. Furthermore, the system is fully accredited and offers the highest levels of security, including encryption, central password controls and data-protection mechanisms.
Procurement Departments
From the research you've already done, you will have already established the credentials of the RMIS provider you recommend, which should satisfy procurement department requirements. Also be prepared to provide information and financials about the supplier on how it can deliver the best results for your organization by combining strengths, ideas and actions.
System Users
A risk management information system will simplify and speed up essential ongoing tasks such as collecting data, building reports and delivering them to management. This frees up time to focus on more value-added activities, and it will improve motivation by removing time-consuming manual processes.
So, what's in it for me? Despite the fact that you're looking at the broad organizational benefits of incorporating a RMIS system, expect that you'll need to craft convincing arguments for each stakeholder in the decision process. If you're successful in convincing one or more decision-maker, why not enlist them to help you convince others? The upside is that you're coming to the group with a smart and transformational proposition that is well worth the investment.
For more insights on incorporating a RMIS, check out our downloadable eBook, The Definitive Guide to a Risk Management Information System.
