Buyer’s Guide: Process Safety Management Software (2022)
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Executive Summary
This report provides executives within EHS, process safety and operational roles with an overview of 15 prominent process safety management (PSM) software vendors available on the market today. Due to the technically intricate nature of process safety, PSM solutions providers have been early adopters of emerging technologies such as AI and automation, Internet of Things (IoT) device integration and prescriptive analytics. Having originally been targeted at firms within industries that operate with hazardous substances, such as chemicals, oil and gas, and pharmaceuticals, PSM software functionality is now seeing increasing usage amongst clients in a wider range of verticals who are aiming to manage risk more proactively. Executives should use this guide to support them in their initial searches for a PSM solution that meets their functionality requirements.The Current Landscape For PSM Software Buyers
PSM Processes Control The Intersection Between Hazards, Workers And Assets
Major Vendors Moving Into The PSM Market Increase Solution Consolidation Across The Industrial Safety Landscape
Technology Development Is Expanding The Scope Of Use Cases For PSM Software
Nascent Technology Innovation Is At The Centre Of PSM Software Development
PSM Software Has The Potential To Generate High-Value Results Across Numerous Verticals
Alcumus Maintains Worker And Contractor Connectivity With Interactive Safety Management And Control of Work Functionality
Benchmark Digital Provides Innovative Risk Management Solutions To Satisfy Compliance Needs
CONFORMiT’s Risk Management Solution Is Well-Suited To High-Risk Industries
DevonWay Offers PSM Functionality For High-Risk Sectors Such As Defence And Nuclear
Enablon Emphasizes End-To-End Safety With Its Integrated Risk Software
Hexagon Provides Advanced Visual Capabilities For Control of Work and Asset Management
Intelex Provides Proactive Safety Capabilities To Benefit Frontline Workers And Contractors
NiSoft’s Eclipse Suite Offers Robust Control of Work Capabilities To High-Risk Power Generation Firms
ProcessMAP Offers Strong Risk Management Functionality Within A Centralized Platform
Quentic Provides A Competitive PSM Solution For Asset-Heavy European Manufacturing Firms
SAI360 Offers A Configurable, Low-Cost PSM Solution With Strong Safety Risk Management
Sphera Offers Leading Solutions For Integrated Process Safety And Operational Risk Management
TenForce Offers Strong Risk Management And Connected Worker Functionality 20
H2 Ultimo Links Enterprise Asset Management With Process-Focused Safety Workflows
VelocityEHS Offers Comprehensive Control of Work, Safety And Risk Management Functionality
Figure 2. Software Tools That Contribute To PSM Programmes
Figure 3. Control Of Work Workflow
Figure 4. Perceived Value Of Integrating EHS, Operational Risk And Asset Data
Figure 5. Factors Influencing 2023 EHS Budgets
About the Authors
Joseph O'Brien
Senior Industry
Joe is a Senior Industry Analyst in the Verdantix Operational Excellence practice. His current research agenda focusses on emerging solutions and global market trends across t...
Tom Brown
Senior Consultant, Advisory Services
Tom is a Senior Consultant in the Verdantix Advisory Services practice, where his focus is on delivering client solutions for EHS and sustainability digitization. Tom joined V...
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Malavika Tohani
Research Director
Malavika is a Research Director at Verdantix, guiding research that explores how digital technologies and services are reshaping industrial operations to become safer, more ef...
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Bill Pennington
VP Research
Bill is VP Research at Verdantix, where he leads analysis on the evolving and interconnected landscapes of EHS, quality, AI and enterprise risk management. His research helps ...
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