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Web-Based Risk Management Software
How can I afford a RMIS?
Often times when speaking with prospective clients, we hear, "I'd love to have a risk management system, but we can't afford it." While we don't pretend to know another company's needs or financial priorities, there are often avenues that can be explored to determine what process improvement and cost savings can be achieved with a customized risk management software solution.

If a company is not able to achieve a noticeable ROI within the first year or two of implementing a RMIS, either the implementation was not successful, or there wasn't a need present to justify the purchase.
  1. Process improvement - by using eRIMS2 to manage and automate your risk management data and processes, there are a variety of ways to implement solutions to provide immediate improvement. From loss and premium allocations that are tied to annual performance goals or bonuses, to providing a subrogation workflow-management solution, the Emerson team can work with you to determine what savings can be achieved through various tools.
  2. Free up capital - many Risk Managers are being asked to manage their company's letters of credit. By identifying areas of improvement that can, for example, significantly lower claim reserves, letters of credit can be renegotiated in order to free up capital for more worthwhile investments.
  3. Good data - Good Information - Better decisions. Simply put, by organizing and aggregating your risk management data in such a way that you are able to have more accurate information, you will make better business decisions. These decisions can be as simple as which defense attorney to use more often, to whether or not to settle a claim.
  4. A safer work environment for employees saves money. I don't think many people will argue this point, but if companies don't have the ability to see incident trends and conduct cause analysis, the ability to make safety improvements is a shot in the dark.
These are just a few ways that Emerson clients have seen serious ROI after implementing eRIMS2. Check out how one client was able to realize $9 Million in savings over the first three years of system use.

eRIMS2 in action

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