Three Usage Scenarios Drive Industry Demand For ORM Software

Executive Summary

This report helps heads of strategy, marketing and product at operational risk management (ORM) software vendors to determine demand for their products in different industries. The survey findings also help managers in engineering, maintenance and operations roles to understand if they are falling behind their peer group on digitizing operational risk management. Operational excellence managers’ appetite for ORM software varies significantly by industry: in three industries, over 47% of respondents say that ORM software is significant; in three other industries, 35% responded that ORM software is significant; and, finally, within six of the industries there are fewer than 26% of respondents who view ORM software as significant for their operational excellence initiatives. There is a correlation between this variation in appetite and how the different industries use ORM software, with construction firms primarily using control of work modules, oil and gas deploying fully integrated platforms, and the rail sector deploying barrier risk management modules for seamless operator changes.