Green Quadrant: Process Safety Management Software 2023
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This report provides a detailed fact-based comparison of the 15 most prominent process safety management (PSM) software vendors in the market. Based on the proprietary Verdantix Green Quadrant methodology, our analysis encompassed three-hour live product demonstrations with pre-set scenarios and vendor responses to a 102-point questionnaire covering six technical, nine functional and 10 market momentum categories. Verdantix also conducted interviews with 28 software users and reviewed the data from our global survey of 304 operational excellence and 301 EHS decision-makers. The PSM software market has, and is currently, undergoing consolidation, driven by private equity interest, due to continued market growth and an expanding market opportunity within the adjacent EHS, ESG and sustainability management areas. Among the vendors featured in the Leaders’ Quadrant, ten firms – Cority, Enablon, Hexagon, Ideagen EHS, Intelex, Prometheus Group, Sphera, TenForce, VelocityEHS and Yokogawa – offered robust all-round PSM software capabilities.