Stakeholder Management System – so much more than spreadsheets
Spreadsheets are great but they are no match for a leading stakeholder management system.
It’s quite a bold title now, isn’t it? Let’s start by clearing the air – We love spreadsheets too. They make our lives easier, both professionally and personally.
However, spreadsheets are not really an ideal option when it comes to managing multiple projects and stakeholders. An exclusively tailored online stakeholder engagement platform would certainly be more beneficial and safer in such cases.
We know you won’t be easily convinced to switch to a new management tool and that is why we have some of the facts for you that prove why exactly spreadsheets are not to be used for stakeholder management.
Why you need a leading stakeholder management system
- Increased Probability of Human Error
The person entering the data in spreadsheets is only human and even the slightest of mistyping could lead to the major errors in the entire data. However, there is a lesser chance of mistake in an automated tool as it is designed specifically to ensure that your stakeholders are managed accurately.
- Lack of Monitoring & Control
Since there is very little scope of monitoring and central control in spreadsheets, it is quite easier for anybody to alter the views and feedback of the stakeholders. In fact, you won’t be able to track the person who has messed up with your data even if anything gets deleted permanently. That is quite frightening when it comes to crucial stakeholders whose opinions can alter your project outcomes.
- Limited Access to Data
Considering the nature of the businesses these days, it is highly likely that you, as well as your stakeholders, will not be accessing the data from a single location or device every time. Spreadsheets are not really compatible to keep up with the changing demands of multiple devices and cloud access.
- Data Mining is Time Consuming
The purpose of a stakeholder management tool is not merely to store all the data, but to access it. The data needs to be extracted to meet the goals of the information so that it can assist in the smooth execution and conclusion of the associated project. The task takes an estimated 50% of the time in spreadsheets as opposed to dedicated software, where the insights can be pulled within seconds.
- Data Privacy is at Risk
The trust of your stakeholders can absolutely not be compromised. However, when you are maintaining the data in spreadsheets, there is a possibility that there are several versions of the same file present in different systems and the changes are being made in each of them every time a new entry needs to be made. This cannot only result in a breach of data privacy but also cause a threat to the accuracy of data.
So, what’s the ideal solution?
The logical and futuristic step to managing all your stakeholders, whether you have 10 or 1000 projects is to subscribe to an online stakeholder engagement platform. Engagement Hub offers an end-to-end, cloud-based global solution that ensures interactive engagement, stakeholder relationship management and exclusive insights.
Contact us for a detailed proposal, book a demo to organize an online screen share and discussion of your objectives, or to explore the features in detail on our Engagement Hub demonstration site.