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Alcumus Paints A Fresh Target On The Vast North American Contractor Safety Market With The Acquisition Of Cognibox

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Alcumus Paints A Fresh Target On The Vast North American Contractor Safety Market With The Acquisition Of Cognibox

Alcumus, a UK-headquartered provider of EHS and supply chain risk management software, announced on the 30th of June 2022 that it had acquired contractor management software vendor, Cognibox. Headquartered in Quebec, Canada, Cognibox provides a suite of solutions to mitigate contractor risk, including tools to manage qualification, compliance, safety monitoring, worker onboarding, and training (see Verdantix Buyers’ Guide ). The last five years has seen Alcumus experience an aggressive growth trajectory; this trend is set to continue with fresh financial backing from new owners, Apax Partners, which acquired a controlling stake in the software vendor for £600million in February 2022. The Cognibox deal marks the sixth acquisition for Alcumus, this latest deal boosting the vendor to a cohort of over 1000 employees. The acquisition joins the deals of Toronto-based contractor safety software provider, ContractorCheck, and workplace safety solution vendor, eCompliance, as part of the vendor’s North American expansion strategy. 

Alcumus has leveraged acquisitions to both expand its global footprint and bolster its software functionality. Cognibox’s strong third-party employee management and training tools are set to add greater firepower to Alcumus’ high-performing offerings for contractor safety management workflows (see Verdantix Green Quadrant). Cognibox operates predominately in Eastern Canada and North-eastern States in the USA, boasting a client network of 50,000 contactors and over 600 hiring clients. At the centre of this network is Cognibox’s contractor database, containing compliance, qualification, and safety performance data at the worker level for contractor firms. The database affords Alcumus an extremely stable foothold in the Quebec region, adding to their position gained through ContractorCheck. Furthermore, the software architecture behind Cognibox’s contractor network offers a framework to grow larger contractor data networks across broader geographies. 

Two primary factors have motivated bullish predictions for the contractor management software market. Firstly, the pandemic has boosted the reliance on third-party contractors across numerous industries, becoming a necessity for many firms to remain operational. In line with this, procurement and operations stakeholders at hiring client firms are turning on software to manage contractor prequalification and onboarding quickly and efficiently.  Secondly, mounting scrutiny on supply chain resilience and sustainability has motivated corporates to turn to management tools to provide vital auditable safety and compliance data on the contractors they employ. 

If you are interested in exploring the applications of technology within EHS, consider visiting the Verdantix research portal

 

Tom Brown

Industry Analyst

Tom is an Industry Analyst in the Verdantix EHS practice. His current research agenda focuses on technology mega-trends, EHS software, and sustainability. Tom joined Verdantix after graduating from the University of Nottingham with a M.Eng. in Chemical Engineering, with particular focus on Process Simulation and environmental sustainability.