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Making Sense of RMIS: 10 Factors to Consider When Purchasing Risk Management Software

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Conclusion As we mentioned in the opening of this paper, purchasing an RMIS system can be an expensive and daunting experience. But it doesn't have to be. Knowing your vendor, their capabilities, and their ability to change and grow with the market is incredibly important. Asking the right questions and uncovering hidden strengths and weaknesses is all part of the process. What costs are included in the vendor's pricing? Does the proposal include software or hardware needs for running the system? Does the proposal include all system capabilities or just the ones needed to get started? What about subscription and maintenance fees? Are there additional costs for integrating with other systems? Is there a charge for upgrades? If converting to a new system, what is the cost for data extraction (from the old system)? Pricing That leaves the big question: are you happy with your current RMIS vendor and the system capabilities they provide? MAKING SENSE OF RMIS | 13

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