.

ProcessMAP Expands Its Operational Risk Management Software Suite With A New Permit To Work Module

Demand for permit to work (PTW) software has witnessed strong growth over the past two years as firms realize the multiple benefits it offers to mitigate industrial risks in real-time, improve the speed at which safe work can be completed, ensure contractor safety and maintain compliance with process safety requirements. Firms have configured PTW software to manage risks due to the COVID-19 pandemic for safe operations. Verdantix research forecasts the market to grow from $380 million in 2020 to $560 million in 2024.

In order to take advantage of this growth momentum, ProcessMAP, the US-headquartered EHS and risk management software vendor with customers primarily in chemicals, construction, pharmaceuticals and vehicle manufacturing industries, launched its PTW software module in September 2020. ProcessMAP’s PTW software comes pre-populated with 16 different permit types such as hot work, working at height, excavations, and vessel entry. The module is accessible on smartphones or tablets and includes job hazard analysis for identification of work hazards and putting relevant controls in place. The PTW software integrates seamlessly with other EHS software modules offered by ProcessMAP such as audits, incident management and training. Corrective and preventive actions can be associated with the permits and automated workflows triggered to take the tasks to closure. The interactive map ‘Risk Point’ enables the visualisation of all permits by type and status - whether the permit has been initiated, authorized, closed or extended.

The permit to work software market is highly competitive. Over the past 24 months this market has witnessed heightened activity in terms of acquisitions, with specialist PTW software vendors being acquired by EHS and APM vendors, as well as existing EHS software vendors expanding their product capabilities by introducing functionality for PTW. Customers should consider four criteria to shortlist vendors – software scalability, industry expertise, process safety management functionality and contractor safety integration capabilities.

For more information on real-time industrial risk management technologies visit the Verdantix Operational Excellence research website

OPEX ProcessMAP Expands Its Operational Risk Management Software Suite With A New Permit To Work Module Verdantix Blog

Malavika Tohani

Research Director, Operational Excellence, Verdantix
Verdantix

Malavika leads the Verdantix Operational Excellence practice. Her current research agenda focuses on the digitization of Operational Excellence and covers operational risk technologies, best practices and growth strategies. Her recent research focussed on benchmarking the capabilities of the prominent operational risk software vendors. She has over 10 years’ experience in research and strategy consulting. Malavika previously worked at Frost & Sullivan, managing and delivering advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.