The pressure to do more with less is constant. But delaying an honest evaluation of your risk management information system (RMIS), while an understandable temptation, can lead to compressed timelines, rushed decisions, cost overruns, and additional grey hair.
Industry consolidation is forcing changes both good and bad. Regardless of whether you elect to stay with your current system or make a move, the worst-case scenario is to find yourself boxed in because you ran out of time.
There are a few critical factors a risk manager should take into account to ensure they are in the driver’s seat. Your time is limited, but your options don’t have to be.
Industry consolidation is forcing changes both good and bad. Regardless of whether you elect to stay with your current system or make a move, the worst-case scenario is to find yourself boxed in because you ran out of time.
There are a few critical factors a risk manager should take into account to ensure they are in the driver’s seat. Your time is limited, but your options don’t have to be.
What could your RMIS be doing for you now?
When was the last time you had a fresh look at RMIS technology? Upon viewing a demo of new RMIS software, risk professionals who have grown accustomed to their legacy systems are often astounded by how much is possible and how easy the new solution is to use.
RMIS technology has undergone a rapid evolution in recent years. The move to the cloud has eliminated the need for time-consuming installations and maintenance, while improving the ability of RMIS vendors to develop and deliver new features. Mobile functionality has transformed users’ ability to interact with the system from the field. Platform configurability allows organizations to tailor workflows to their risk and safety processes, rather than the other way around. These new capabilities can contribute to significant leaps forward in data collection, analysis, compliance, and day-to-day efficiency.
How much runway do you need for transitioning to a new RMIS?
The amount of time it takes to implement a new RMIS can vary depending on complexity. The average Origami Risk implementation typically takes between 16 to 24 weeks. You’ll want to be “live” in your new system with a week or two to spare, in order to get a final refresh of data from your previous provider. Otherwise, you could find yourself locked out of your own data or incurring additional fees.
If the renewal date of the contract with your current provider is 12 to 14 months from now, you should begin actively evaluating systems as soon as possible.
(Implementation timeline source: 2018 RMIS Report)
Avoiding data pitfalls in the transition to a new RMIS
When switching to a new RMIS, there are a number of factors to consider that can help you to avoid hidden costs and lost time. Among these are the vendor’s experience with converting clients from another vendor’s legacy system and the new platform’s compatibility with third-party software used by your organization. Two additional factors that can impact both the decision to move to a new RMIS and the transition itself often comes as a surprise—the cost and the amount of time it takes to obtain your data.
Despite the baffling concept of having to pay to acquire your own data, the fact is that some legacy providers do charge fees. The delivery of your data to your new provider can also be a process that drags and, as mentioned above, impacts the ability of your new RMIS provider to convert your system on time. Understanding what your current provider charges is, of course, a factor you’ll want to consider as part of the decision to make the move to a new system. Knowing what is entailed in obtaining your data can help in getting the ball rolling should you decide to make a change.
Start the dialogue soon, rather than later
The move to a new RMIS is not a push-button operation, but it doesn’t need to be an undue burden. Giving yourself options will help to ensure success. In addition, making sure you are evaluating systems from vendors with proven track records for successful implementations is key if you decide to make a change. Engaging with Origami Risk, the RMIS provider that has built an implementation process around client success, can help to ensure a smooth transition.
Get in touch
Contact us to take a fresh look at RMIS technology and to begin a discussion around what transitioning to a new system might look like for your organization.