Achieving Holistic Contractor Safety Management With Digital Innovation

Executive Summary

Improving contractor safety management has been moving up the corporate agenda for several years as hiring clients increasingly outsource hazardous work but regulators continue to hold them responsible for risk management. This trend is particularly strong in the energy sector which is the focus for PEC Safety and Veriforce which merged in 2019 following their acquisition by private equity firm Thoma Bravo. The combination of these two businesses links up capabilities to improve contractor safety through pre-qualification of contractor organizations as well as by assessing the qualifications of individual workers to perform hazardous tasks. Veriforce has the potential to close additional loopholes in contractor safety management by unifying the capabilities of the two software products and investing in new functionality for site security, permit to work and   new leading indicators for contractor safety measurement.