8 Ways to Save Time with Stakeholder Relationship Management (SRM) Software

Posted by Britney Blomquist on July 23, 2021

How saving time with an SRM will help your team to meet your stakeholder engagement goals in the fastest and most efficient way possible

There are many great benefits to using Stakeholder Relationship Management (SRM) software for your stakeholder management process. An SRM can help lower your organization and project’s risks and help you save significant resources throughout the lifespan of your project, but one of the ways that an SRM offers your organization significant value is through saving time.

An SRM manages all your stakeholder relationships and communications with stakeholders. This software ensures your stakeholder information is organized, accessible, searchable and easy to understand, so you and your team can save time and get back to creating positive outcomes and reaching your project’s goals.

To help you fully understand the value an SRM can offer your organization, today, we’re breaking down 8 ways an SRM will help save your organization a lot of time!

Timesaver 1: An SRM easily organizes large amounts of stakeholder information

As you engage and consult, you and your team will be collecting a lot of different information:

  • Contact information
  • Stakeholder and community communications (emails, phone calls, meetings, etc.)
  • Issues
  • Commitments
  • Notes on stakeholders
  • Meeting locations
  • Records of consultation and engagement
  • Etc.

This information is essential, so it needs to be well managed, organized and accessible for your team.

How an SRM helps you save time through organization designed for stakeholder management

stakeholder relationship management

With an SRM, all your stakeholder information is centralized within the software, so you and your team never have to hunt for the data you need.

Whether you need a phone number to reach a stakeholder, to check on the history of engagement to prepare for a meeting or view the number of currently open issues for your project, you know exactly where to go to find your data.

Can't I just use spreadsheets for organizing my stakeholder engagement?

Surprisingly, many organizations are still trying to make spreadsheets work for their stakeholder engagement management. These are not the ideal tool because, between multiple versions of spreadsheets floating around your organization, inconsistent input methods, and the difficulty of searching and reporting across spreadsheets, they commonly cause significant confusion, increase risks and waste your team’s time, which is counterproductive.

To learn more about why it's time to break-up with spreadsheets, check out our blog!

Timesaver 2: An SRM offers invaluable analytics and improves your reporting

Your stakeholder data is valuable if you know where it’s all located and if you and your team understand how you can use it to help you learn about your stakeholders and your projects.

How an SRM helps you gain insights from analytics and reporting features

Analytics and updates

While it’s important to note that each SRM on the market is unique and won’t necessarily offer the same features, many SRMs, like Jambo, do offer the ability to gain important insights about your stakeholders and projects, like:

  • How many stakeholders are we engaging?
  • Where are we engaging the most?
  • How many issues are open? How many are closed?
  • What's the highest risk issue to our organization?
  • Are there any open commitments?
  • Etc.

With access to this kind of information, you and your team are quickly informed and can share important updates.

Reporting

In our SRM, Jambo, you can gain some of these insights from the dashboard and then even more detailed information with just a few clicks using our robust reporting options. These reports ensure your data is easy to understand and share at a moment’s notice and can be custom built to meet your information needs.

Timesaver 3: An SRM improves communication and collaboration amongst your team

As you’re collecting a lot of stakeholder information and having several team members engaging with various stakeholders and communities (often several team members engaging with the same people and groups), everyone must be on the same page.

How an SRM helps your team communicate and collaborate

stakeholder information

In an SRM, your team is all inputting their data into the same software in a consistent manner so that your SRM becomes your team’s single source of truth. The SRM operates as your team’s reliable space to go to for updates, progress, and to add new information.

Task Management

An SRM with a task management function also allows you to assign tasks to your team and yourself so that everyone knows what they are accountable for and when things have been completed. This is an excellent SRM feature that spreadsheets do not have and adds tremendous value to your team’s ability to collaborate and communicate within the software.

Recent Changes

Our SRM, Jambo, even has a feature that allows you to see recent changes on your dashboard as soon as you log into the system so that you’re updated on what’s new right away.

Timesaver 4: An SRM gives you the history of engagement, so you know exactly what was communicated, when, and with whom

Whether you’re preparing for a stakeholder meeting or trying to understand your stakeholder’s perspectives, you need to know what’s been communicated. Without an SRM, if you weren’t part of those previous conversations, it could be a time-consuming task trying to trace back through your team and their notes to figure out what’s been communicated, who was involved, when it was said and if there’s been anything promised.

How an SRM's history of engagement saves you time

Preparing for a Stakeholder Meeting

Sometimes stakeholder meetings are planned well in advance, and you have plenty of time to prepare for the meeting, but other times, meetings can be last minute. Regardless of the timing, you are expected to be updated on everything that stakeholder has shared with your organization.

With some SRMs, you can jump into a stakeholder’s profile and see everything they have shared with your team, even if you weren’t part of those conversations. You can also see any issues and commitments in the profile that the person is connected to and any notes your team might have logged about that stakeholder (e.g., that they prefer meeting virtually or are only available certain days/times).

With such quick access to this overview, you don’t have to waste time digging through spreadsheets or emailing and calling your team for updates because you have all the information you need at your fingertips.

Timesaver 5: An SRM allow you to utilize voice to text compatibility (if your cellphone has this capability)

If you have a cellphone with a microphone, use the voice-to-text to save time entering notes and comments about an engagement. This time-saving feature is made for people on the go!

Use voice-to-text to make inputting engagement faster than ever

An SRM that supports voice-to-text allows you to input your data easily. This is an excellent benefit for those who want to quickly log notes from a meeting they just had with a stakeholder and don’t want to wait until they’re back in the office.

Plus, this feature is great for inputting information during meetings so that you’re not wasting time and can also share what you’ve inputted with the stakeholder for greater transparency!

Timesaver 6: An SRM makes your stakeholder data easy and quick to search

We’ve all had to dig through endless spreadsheets, random files and notes on our phones to try and find the information we need, which wastes time and is incredibly frustrating.

How SRM searchability is a game-changer

Stakeholder management tools

While this might not seem like a game-changer at first, having the ability to quickly search questions like:

  • Which stakeholder was connected to a particular concern?
  • How many stakeholders have mentioned this problem?
  • What date was this first topic mentioned?
  • Etc.

In an organized SRM, this information (and much more) is available to you almost instantly, so you don’t have to spend your time or your team’s time trying to connect the dots.

Answering Stakeholder/Regulatory Body/Team or Management Questions

You won’t be the only one who has questions about your data, and you want to be able to answer these requests for information quickly and efficiently.

Whether a regulatory body is checking in on your consultation records, a stakeholder wants to know the progress on a commitment your team made to them, or your team or manager wants to know how many issues are currently open, with an SRM, you can find this information fast.

The ability to answer these questions rapidly also makes your organization look efficient and trustworthy because you can instantly search for the answer and have a populated list of related information right away, so no one is waiting on you.

Timesaver 7: An SRM offers email integration

This is such a vital timesaver as you’ll undoubtedly be emailing your stakeholders, teams, managers, regulators, etc.

How SRM email integration speeds up your process

With an SRM with email integration, your emails are automatically logged as records into your SRM, so there’s no copy and pasting or having to take the time to input the email manually.

In Jambo, the system logic translates your email into a readable communication record. It associates the email with known stakeholders in the system while adding any email attachments to the record, so everything is organized and accessible, without any extra effort from you!

Timesaver 8: An SRM ensures you spend less time on administrative tasks

We’ve all been there where we block off a half-hour of time to catch up on our emails and calls, and before we know it, three hours have passed, and we’re not even done yet!

How an SRM will lighten the administrative task load

stakeholder information

Fewer emails

With all your stakeholder data centralized and accessible in your SRM, you’ll spend less time sending check-in emails because the updates you need are already available to you in the software. Plus, with the email integration feature available in SRMs like Jambo, you don’t have to waste time manually logging your emails into your SRM because it’s an automated process.

Fewer team calls and meetings

You’ll also need fewer meetings and calls with your team to check in on progress, as many of those updates are available in your SRM.

Less Digging for the Information You Need

With your data in an organized, searchable and accessible system, you’ll know where to find the information you need, when you need it, without all the time-consuming digging!

Plus, if you choose an SRM with traceability, like Jambo, all your information will easily and logically connect, so you understand the big picture right away. For example, suppose you’re looking into an issue logged in Jambo. In that case, you can easily work backwards and see connecting information such as the original communication where the issue was first raised. There’s automation happening behind the scenes in Jambo that allows you to easily investigate your data for deeper understanding in the quickest way possible.

To learn more about how SRM traceability works, check out our blog.

Shorter Data Inputting Times

This benefit depends on the SRM you choose, but if you use an SRM like Jambo, your logging time for communication records is cut down significantly so that you’re not wasting your time inputting your data and can focus your efforts on engagement or your other important tasks and goals.

How to choose the SRM that will save you the most time? Free downloadable resource!

As we mentioned above, not all SRMs offer the same benefits, so you want to choose an SRM that’s fast to learn and easy to use so that you can optimize your team’s time savings.

At Jambo, we pride ourselves on being the fastest and easiest Stakeholder Relationship Management (SRM) software on the market, and every feature we mentioned in today’s blog is available in our SRM. To help you understand a few of the unique features that Jambo can offer you and your team to save even more time, check out our blog on how Jambo helps you save time.

If you’d like to learn more about SRMs and the features to look for to ensure you choose the best SRM for your organization, we’ve created this free checklist to help your research. To download your free comprehensive SRM checklist, click the image below!

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Topics: Stakeholder Relationship Management Software, Stakeholder Relationship Management, stakeholder management