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Top 4 Benefits of Choosing Standard Stakeholder Software for Your Business

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Top 4 Benefits of Choosing Standard Stakeholder Software for Your Business

Managing all the stakeholders in a business means a lot of data.  Stakeholder software is absolutely necessary to structure this amount of information. If data isn’t organized properly, you can be confronted with the challenge of accessing nine different databases for one project. And nobody wants that. Streamlining this process with software will save you a lot of time and money.

There are two types of software you will encounter when acquiring stakeholder software: custom made systems or standard stakeholder management applications. Custom-made software can take years to develop, so, if you want things up and running quick, your best bet will be getting standard stakeholder software.

Here are 4 reasons why: 

1. It works with your current and future needs

While custom made software is made with current and planned issues in mind, standard software can be customized to your needs. This means you’ll have to invest more money in custom made software in the future when you need to update it. But a standard stakeholder management application will have configuration options to customize it to your project.

For example, if you are working on a deadline, this means you are probably concentrating on solutions you need right now and aren’t thinking ahead. When acquiring stakeholder software, you’ll need to consider any change that might arise in the next year or two. And the thing is, sometimes you don’t know what issues might come up, so it’s best to be prepared with software that allows for constant customization.

2. It can be used in less than a month

Having stakeholder software up and running before a month is of utmost importance. You can’t stop operations until the system is working. The people who your business interacts with every day will keep engaging with you.  Standard stakeholder software assures you won’t waste time, which in business always means money. In the case of custom software, there is the risk of deploying software that will take time to be up and running, plus, you won’t know how it looks or works until you use it. 

3. It is up to date with best practices standards

When you get standard software to manage your information, you’re not only getting your data to be structured, but you’re also getting software that will help you adhere to best practices guidelines. Custom software cannot compete with standard software in this sense. Standard software can have a decade of experience in it. This type of stakeholder software not only allows configuration, but it also includes best practices and processes that you’ll need to implement or weren’t even aware of. And you also get to choose what you want to prioritize in order to fit with your company’s requirements.

For example, let’s say you work for a pipeline company, and you need stakeholder software for social and environmental performance. If you use standard software, you’ll be harnessing the information of all the companies that use it, like gas, oil and mining companies, as well as several other industries like agroforestry, transport and renewables. This information is no corporate secret and is being shared through this software thanks to corporate citizenship and accountability. People want to know if companies working beside their homes are abiding by the law, what they’re doing and if they are following best practices.

4. It will limit how much you depend on your software provider

The best software like Borealis is easy to use and doesn’t make you feel like you’ll have to contact the seller to make it work. This is true for both stakeholder software and apps on your phone. For example, let’s say you are comparing two apps to help you look and apply for jobs. They both offer the same features, like easy search with keywords and a straightforward CV update and application process. What would it take to choose one app over the other? If one of them sends you notifications every time a job opens in a category you have searched before, but the other one doesn’t, it’s a no brainer what app you’ll choose.

The same goes for stakeholder software. Of course, it’s not as simple as a job searching app on your phone, but your business should aspire to this level of user-friendly interface. Also, standard stakeholder software allows you to be mostly free of the seller when you want to edit parameters on the system. The process is as easy as going to the application settings to make the necessary changes. But if you have custom made software, you’ll have to contact the vendor every time you want to make a change. And the idea is that your company shouldn’t work for a stakeholder management software, this type of system should work for you.

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