The Benefits of Centralizing Your Stakeholder Data

Posted by Britney Blomquist on May 20, 2022

Keeping your data centralized in a platform like Stakeholder Relationship Management (SRM) software is a data management best practice with many benefits.

To help you learn about these benefits, we’ve broken them into three categories, showing how centralized data helps you in the following areas:

  • Clean and Consistent Data
  • Easy Data Collation
  • Better Team Collaboration

Keep reading to learn all eleven benefits!

Clean and Consistent Data

Keeping your data clean and consistent means you have access to reliable data that’s comprehensive, accurate, and reflects your project goals. Below, we’ve compiled four clean and consistent data benefits you can gain from keeping your data centralized in an SRM.

1. You’re Looking at The Most Up to Date Information

stakeholder data management

By centralizing your data, you don’t have to worry about people making a new version of the same spreadsheet, editing their copy, and saving it to their own computer. Instead, with an SRM, once data is logged, you can access it in real-time and be confident you’re viewing all of the records and the most up-to-date information.

For example: if you’re using an SRM like Jambo, when somebody updates a phone number, you can see the changes as soon as they’re made along with the name of the person who made the changes, so if you have any questions, you know who to contact.

2. Helps You Log Data Consistently

When you’re setting up your SRM, try to create a guideline for logging and formatting data and stick to it (e.g., creating account-level tags, naming conventions, and utilizing similar fields). Doing this will help keep all your information uniformly organized. This way, no matter who creates a new record, if they’re following the formatting guidelines, the information will be logged consistently, and your reports will be cohesive.

Making sure your SRM is set up for success in formatting is just one of the ways we suggest for keeping your data clean. To learn more, check out our blog.

3. Create Consistent Reports to Meet Various Needs

When all your data is centralized and organized, it’s easy to pull consistent information, whether you’re putting together an annual report for your shareholders or a monthly team meeting report. You don’t have to search through emails, folders, or calendars for the information you need for your various reports, as it’s all clean, consistent, and available within one platform.

In Jambo, you can create a saved report and use it as a template for your team to use. With this feature, you can create consistent reports, even if it’s not the same person running them every time.

4. Dive into Further Data Analysis

stakeholder data management

If you want to do more data analysis with other analytic tools, you can pull all your data from your centralized platform into one consistent format and add it to other systems for analysis.

Depending on the SRM you use, you can also utilize the robust reporting features available in the platform to closely analyze your data and pull essential insights.

Easy Data Collation

Data collation is about arranging and categorizing your data and is a crucial step towards understanding your stakeholders and project(s). Below we’ve compiled four benefits related to data collation you can gain from centralizing your data.

1. Brings Your Data Together So You Can Understand It Better

Instead of logging data in multiple systems or digging through documents, you can pull everything you need from one platform and be confident that you’ve got all the data points you need.

Whether you run comprehensive reports or are viewing dashboard overviews in your SRM, you have access to important updates and all the insights you’ll need to understand your data and see what’s happening in your project(s).

2. Helps You Understand the Themes, Trends, and Commonalities Across Your Project(s)

With all your information in one platform, you can pull data related to relevant themes, trends, and topics. If you want to find all the data related to a specific attribute of a communication record, contact or issue, you can easily find what you need to help understand emerging trends or areas of interest in your data.

For example: you want to pull all issues your stakeholders have raised related to noise. With your data centralized, it's easy to run a report on all the data across your projects to help you understand what your stakeholders have shared with you about noise issues.

3. Enables You to Learn About Your Stakeholders

With everything accessible in an SRM, you’ll have full visibility into your stakeholder data, including:

  • Who your stakeholders are
  • How to contact them
  • What your stakeholders are saying about your project and your organization
  • What issues your stakeholders have raised
  • How you and your team have managed the issues
  • How your stakeholders responded to your efforts

stakeholder relationship management

With access to all this data in one place, you can easily search for relevant updates or make connections within the platform to help you learn more about your stakeholders’ unique perspectives.

Taking the time to learn about your stakeholders can help you build the knowledge and the relationships you’ll need to help your project(s) succeed. Learn how Stakeholder Relationship Management Software can help you understand your stakeholders better.

4. Empowers You to Build Trust with Your Stakeholders

When all your project information is available and stored in one platform, you can come to your stakeholder meetings and engagements informed and prepared. This awareness and preparation help decrease the risk of engagement fatigue because you’re not overloading your stakeholders with unnecessary questions or repeated conversations.

With easy access to all your centralized data, you can stay focused on gathering the information you need and learning what’s important to your stakeholders, which increases their trust in you and your organization.

Better Team Collaboration

When you collaborate with your team members, share information, and learn from their efforts, you can work more efficiently towards your project’s goals. Below we have three benefits related to team collaboration you can gain from centralizing your data.

1. Monitor Progress and Understand What Your Team is Working On

With everyone logging their data in the same platform, you can better plan and collaborate across teams. You can see what's been done, what people are working on, and any gaps to be addressed. It makes it easy if you’ve got people working on various parts of the project as you can see what tasks they’ve completed, their approach, messaging, and what issues came up for them.

This is especially helpful for other team members that might be joining the project for a different phase because the knowledge and information from the earlier phase(s) is available to them in one spot. It can save you time and avoid the risk of leaving out a key piece of information when you’re bringing someone up to speed.

2. Boosts Teamwork While Lowering the Chances of Duplicate Entries

When you open a record in Jambo, you can see if other people are currently working in the same record as their avatar (profile picture) will be visible in the top right of the record. This helps you lower the risk of doing duplicate work as you can see what other team members are doing.

Jambo’s ‘Recent Changes’ feature also allows you to see when someone on your team has made changes or updates. This encourages people to connect with team members if they need more information, additional context, or any help with their tasks.

3. Facilitates Team Collaboration Whether You’re In-Person, Remote or In-The-Field

stakeholder relationship management software

With a cloud-based SRM like Jambo, you can access the platform wherever you’re working (as long as there’s an internet connection). Everyone can all work together from wherever they’re located to ensure your important data is being captured and shared within your organization.

Teamwork is crucial to the success of your stakeholder engagement projects. Here are four ways Stakeholder Relationship Management Software can help you improve teamwork.

Are You Ready to Centralize Your Data With an SRM?

If you’re ready to gain the benefits from centralizing your stakeholder and engagement data, then it’s time to learn about the SRM options available to you. To help you with your research, we’ve created this free checklist of features you’ll want to consider when choosing an SRM.

Grab your copy below!

Download our FREE 10 Question Checklist. Should you stop using spreadsheets as your stakeholder management tool?

Topics: Stakeholder Data Management, Stakeholder Relationship Management (SRM) Software