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RISK MANAGEMENT BLOG

When Buying Risk Software, Don't Just Ask 'How Much Does it Cost?'

“How much does it cost?” is one of the most common question buyers ask when looking for cloud-based software solutions. Price is definitely a major factor when purchasing, but there are many other important questions that can  get missed at the beginning of the buying process. Asking the following questions upfront can save buyers some big headaches down the road.

Topics: third party software external software choosing a risk management system risk management vendor buying risk management software

How to Choose the Right Risk Management System

Organizations use risk management systems to track claims and risk information, analyze and report on data, and monitor and control the overall cost of risk management. You’ve recognized the need for a risk management system in your organization. Great! But how do you ensure that you choose the right system? There are several vendors to choose from, each slightly different. You also need to choose a system that’s right for your organization: it should be a tool to help you manage risk. It must streamline your process, not add another task.

There are three steps that will allow you to feel confident in the risk management system you choose for your organization. First, consider your internal environment. Then, use this to identify your primary and secondary system criteria. Finally, use this knowledge to research and select the vendor that is best suited to your organization.

Topics: risk management information system risk management system choosing a risk management system risk management vendor

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