How to Choose a Stakeholder Management Software

Successful stakeholder management depends on good data, structured processes and insightful analytics.

And trying to make sense of large volumes of data, possibly from multiple systems and spreadsheets across departments, can be a nigh on impossible task.

Using proper stakeholder management software will offer many benefits and reduce risks.

However, before you decide to use stakeholder management software, there are a few key points you need to bear in mind:

Stakeholder management tools are an enabling technology. They will not run the project for you;
Choosing a stakeholder management solution is a preliminary project. In many cases, it is the first thing you need to get done so you can have continuity throughout the entire effort;
Planning begins well in advance of project initiation and should be done with your stakeholder management tool in mind. Speak to the supplier and see if they can help you to understand how their system fits into your overall plan.

It is important to enter into the task of choosing a stakeholder management tool using a disciplined and analytical mindset.

There are many technology options in the market, and they can boggle the mind through their slick marketing tactics to the point of influencing you into making a hasty decision. As a rule, decisions made in haste will come back to haunt you later in the project.

So, what are the important criteria that will allow you to whittle down the selection of a stakeholder management system to a manageable and relevant choice?

Here are four factors to consider:

Cost vs. functionality
Capability vs. easy to use
Technical support
Data security

1. Cost vs. Functionality

The power and degree of control needed for your choice of a tool hinge on the answers to these questions:

What is your budget?
How big is the project team?
Who will be managing the software?
Do the tools included in the software cover all your management needs?

Tools such as the industry-standard Microsoft Project implemented in a SharePoint cloud environment costs thousands to acquire and isn’t built for stakeholder management.

A tool that’s built with your specific needs in mind is essential for effective stakeholder engagement.

One of the biggest returns from implementing stakeholder management software is the cost savings due to an increase in efficiency in performing various project tasks.

Its benefits far outreach the annual costs for the software. In addition, it eliminates all the additional subscription costs for multiple 3rd party subscriptions such as email providers, event hosting platforms and survey tools.

2. Capability vs. Ease of Use

The more capable the tool is, the higher the learning curve is going to be.

Remember that your entire project team will have to be able to use the tool at some level.

What setup and startup support can you expect?
Is there a structured onboarding plan in place?
Does the software provider offer free training?
Does that training save you the expense of hiring an expert to help you use the tool?

A stakeholder management system is easier to use than having to work with multiple different tools. Because it centralises all information, it facilitates communication between teams and improves understanding.

Moreover, a single central resource for all stakeholder information delivers an easily accessible audit of all historical activity to better inform future strategies.

3. Documentation and Ongoing Technical Support

Consider the quality of the documentation you’ll receive, if the contract is flexible and if it can be renewed annually.

Understand what are the long-term technical assistance, regular feature upgrades and bug fix policies the potential vendor provides.

Good ongoing technical support should include further training, refresher courses, an online knowledge bank with how-to videos, and a dedicated account manager that can be contacted during working hours.

Stakeholder management software providers that also offer to create bespoke reports upon request to meet specific KPI’s at no additional cost is also a plus.

4. Data Security

You might have to protect personally identifiable information (PII), store sensitive documents and intellectual property.

If so, choosing a stakeholder management software that allows confidence when storing data and ensuring conformity to major technical standards is crucial.

Unlike spreadsheets or similar tools, SaaS solutions like stakeholder management software can offer industry-leading security infrastructure by utilising best in class hosting methods and security controls.

In terms of security, shifting to a stakeholder management tool will:

Provide confidence in compliance with GDPR;
Remove the risk of data being duplicated, lost or manipulated;
Reduce the risk of a serious breach in security.

Make sure to learn if the software provider you are considering offers:

Secure data centres;
Encrypted data and connection;
Server backups;
ISO9001 & ISO27001 standards.

Choosing a Stakeholder Management Software

It is important to ask the tough questions when evaluating potential vendors.

Always perform your due diligence on any stakeholder management software package you’re considering buying. You won’t be sorry you did your homework.

Tractivity can transform how you manage stakeholder relationships and engagement.

Discover why many organisations such as EDF Energy, GWR, SSEN, City of London and the NHS have chosen our system to deliver better outcomes. Book a free demo with us today.

Frequently asked questions

What should you consider before choosing stakeholder management software? Before selecting a stakeholder management platform, understand that it is an enabling technology; it will not run the project for you. Choosing the right system is itself a preliminary project that should be completed before project initiation to ensure continuity. Take a disciplined, analytical approach to evaluation, and engage with potential suppliers early to understand how their system fits into your overall stakeholder management plan.

How do you assess the cost vs. functionality of stakeholder management software? Start by clarifying your budget, the size of your project team, who will manage the software, and whether the tools included cover all your management needs. A purpose-built stakeholder management platform typically delivers significant cost savings through efficiency gains and eliminates the need for multiple third-party subscriptions, such as separate email providers, event hosting platforms, and survey tools, that would otherwise add to the total cost.

What is the right balance between capability and ease of use in stakeholder management software? The more capable a platform is, the steeper the learning curve will be, so consider whether the supplier provides structured onboarding, free training, and ongoing support that removes the need to hire external expertise. A well-designed stakeholder management system is easier to use than managing multiple disconnected tools, because it centralises all information, facilitates team communication, and provides an accessible audit trail of all historical stakeholder activity.

What ongoing technical support should you expect from a stakeholder management software provider? Good ongoing support should include further training, refresher courses, an online knowledge base with how-to videos, and a dedicated account manager contactable during working hours. Check whether the contract is flexible and renewable annually, and whether the provider offers regular feature upgrades, bug fixes, and the ability to create bespoke reports at no additional cost. These factors significantly affect the long-term value of the investment.

How important is data security when choosing stakeholder management software? Data security is a critical consideration, particularly for organisations handling personally identifiable information (PII), sensitive documents, or intellectual property. A reputable stakeholder management platform should offer secure data centres, encrypted data and connections, server backups, and compliance with ISO 9001 and ISO 27001 standards. Unlike spreadsheets, purpose-built SaaS platforms provide industry-leading security infrastructure that ensures GDPR compliance, removes the risk of data duplication or manipulation, and reduces the risk of a serious security breach.

Why do organisations choose Tractivity as their stakeholder management software? Tractivity is chosen by organisations including EDF Energy, GWR, SSEN, City of London, and the NHS because it delivers the full combination of capability, ease of use, data security, and dedicated support that effective stakeholder management requires. It eliminates the need for multiple third-party tools, centralises all stakeholder data and engagement in one platform, and is backed by structured onboarding, ongoing training, and a dedicated account manager for every client.