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A Buyers Guide to a Risk Management Information System

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A BUYER'S GUIDE TO A RISK MANAGEMENT INFORMATION SYSTEM 9 As well as ensuring your preferred RMIS provider speaks your language, you'll need to assess the usability of the system. Set out below are some considerations to help you evaluate systems and suppliers. RMIS SELECTION CRITERIA IMPLEMENTATION Make sure the supplier has experience with the industry that you are in and the type of system set up and functionality you require. Sample considerations: • Implementation follows a standard methodology. • Training in functional use and system administration provided. • Training provided at: customer site(s) and supplier site(s). • Multi-language training and training materials provided, as required. • Location of customer service employees (in relation to client): same country, different country. MAINTENANCE & SUPPORT You can expect 24/7 support and you should also evaluate system upgrade entitlements. Furthermore, planned maintenance should typically occur outside normal business hours. Sample considerations: • Range of ways to contact support, including; telephone, online portal and email. • Telephone service provided: xx hours per day, x days per week. • Guaranteed response times and defined SLAs. • On-site expertise available. TOTAL COST OF OWNERSHIP You need to consider the total cost of ownership of the Risk Management Information System over the first five years. Focus on user licenses, software maintenance, and implementation services. Sample considerations: • All costs are included in the pricing; recurring annual costs, training costs, upgrade costs, implementation support costs, customisations costs, user licenses, training materials etc. • Pricing structure for follow-up training provided. • Pricing arrangements available.

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