Verdantix Green Quadrant Highlights Leading Process Safety Management Vendors In An Increasingly Interoperable Market

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Verdantix Green Quadrant Highlights Leading Process Safety Management Vendors In An Increasingly Interoperable Market

The recently published Verdantix Green Quadrant: Process Safety Management Software 2023 assesses 15 process safety management (PSM) software vendors across their product technical and functional capabilities and their market momentum. Our research encompassed three-hour software demos with participants, a 102-point factual questionnaire, interviews with 28 corporate buyers of PSM software, and desktop research. The study also features findings from our operational excellence global corporate survey with 304 operations, maintenance, engineering, IT and process safety decision-makers, and responses from the 301 EHS decision-makers who participated in our global corporate survey. Vendors featured in this Green Quadrant are AVEVA, Cority, Enablon, GOARC, Hexagon, Ideagen DevonWay, Ideagen EHS, Intelex, Mangan Software Solutions, NiSoft, Prometheus Group, Sphera, TenForce, VelocityEHS and Yokogawa.

What are the key takeaways from this benchmark of PSM software applications?

  • PSM software unifies EHS, operations, engineering and maintenance.
    The Green Quadrant report highlights the indispensable role of PSM software in assembling disparate process data – helping firms maintain standard operating procedures, perform hazard analyses, plan emergency responses and handle hazardous chemicals. Modern PSM software brings together isolated point solutions to form a holistic approach, through integrated PSM data analytics and technology-augmented workflows. Such unification of processes promises more robust safety and operational efficiency. GOARC provides a ‘Command Center’ view that integrates data from IoT vendors such as RealWear, Rombit and SightCall.

  • Mobile app and connected worker capabilities are improving for real-time visibility.
    The evolving PSM software market is increasingly focusing on mobile app development and connected worker safety, reflecting the necessity for real-time access to safety procedures and data in the field. This report underscores a growing demand among frontline workers for robust mobile solutions capable of operating in intermittent connection environments, with vendors such as Intelex delivering hazardous environment monitoring through mobile apps, triggering real-time workflows and notifications, while Ideagen DevonWay and TenForce have partnered with wearable provider Rombit for real-time info on worker safety, integrated into its permit to work system.

  • System interoperability will be crucial for harnessing DataOps and GenAI.
    The report signals a critical trend towards enhancing API layers for seamless system integrations, with advanced analytics and AI-powered data management identified as high-value opportunities. Software vendors are encouraged to focus on interoperability to optimize workflows and integrate varied data types – across time series, free text, audio, images and video. Such interoperability should extend across first-party software modules and via integrations with customers’ enterprise and industrial asset management systems, ERP systems, document management systems and data lakes. As PSM software becomes more sophisticated, the ability to leverage passively ingested multimodal data through large language models, domain-specific speech transcription and computer vision is anticipated to expand the scope and effectiveness of PSM solutions significantly.

 

Check out the full report here: Verdantix Green Quadrant: Process Safety Management Software 2023

Join our webinar on Thursday, 30 November 2023 from 4:00 pm GMT | 11:00 am EST | 8:00 am PST: Process Safety Management Software Benchmark: Accelerate Vendor Selection

Green Quadrant Process Safety Management Software 2023 Graphic

Joe Lamming

Industry Analyst

Joe is an Industry Analyst in the Verdantix Operational Excellence practice. His current research agenda covers industrial DataOps, AI/ML analytics and applications of generative AI for industry and enterprise. Prior to joining Verdantix, Joe worked in the consumer electronics industry, where he gained experience in overseas manufacturing, product design and data science. Joe holds an MEng in Mechanical Engineering and Sustainable Energy Systems from the University of Southampton.