Green Quadrant: Process Safety Management Software 2021
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Executive Summary
This report provides a detailed fact-based comparison of the most prominent process safety management (PSM) software platform vendors. 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 236-point questionnaire covering 12 technical, 14 functional and 9 market momentum categories. Verdantix also conducted interviews with 13 software users and reviewed the data from our global surveys of 301 EHS and 259 operational excellence decision-makers. Our analysis finds that the PSM software market has historically consisted of point solutions targeted towards different facets of PSM. With increasing pressure for interconnectivity across systems and business units, PSM vendors are now looking to integrate PSM functionality into single platform solutions. While the market for fully integrated PSM software is nascent, the 13 vendors benchmarked have demonstrated capabilities and product development to meet customer demands.The State Of the Process Safety Management Software Market
The PSM Software Market Is Shifting From A Mix Of Point Solutions To Single Integrated Platforms
Firms Are Combining EHS And Operational Excellence Functionality For PSM Processes
PSM Software Providers Should Look To Consolidate Functionality And Technology Integrations Into Comprehensive Solutions To Meet Customer Demand
Best-In-Breed Providers Must Expand Their Offerings To Integrate Critical Aspects Of PSM
Customers Prefer To Work With Vendors Who Are Embracing Innovation To Deliver The Most Comprehensive PSM Solutions
Innovative Technologies Are Creating Valuable Use Cases For PSM Processes
Connected Solutions Offer Significant Opportunity To Increase The Effectiveness Of PSM Processes
Providers Are Integrating New Technologies And Analysis Techniques In PSM Solutions
Green Quadrant For PSM Software 2021
Green Quadrant Methodology
Scope And Methodology For The 2021 Green Quadrant PSM Software Study
Evaluated Providers: Selection Criteria
Evaluation Criteria For PSM Software
Alcumus Offers Customers Strong Capabilities In Incident Management And Contractor Safety, Geared Towards PSM
AVEVA Leverages Its Strengths In Asset Management And Engineering To Bolster Process Safety
Benchmark ESG Delivers Strong Risk Management And Chemical Compliance Solutions
DevonWay Offers Unique Defence Industry And Nuclear Energy Expertise For Managing PSM Activities
Enablon Delivers A Comprehensive And Integrated Approach To PSM
GOARC Offers Outstanding Connected Worker Capabilities Via Its Safety 4.0 Platform
Hexagon PPM Empowers Customers’ PSM Programmes With Strong Asset Management And Control Of Work Functionality
Intelex Offers Bulletproof Functionality Including Robust Document and Change Management Capabilities To Empower PSM Programmes
ProcessMAP Offers Data-Driven Chemical, Document And Risk Management Capabilities For PSM
Sphera Offers A Unique Combination Of Leading Chemical And Risk Solutions For PSM
TenForce Applies Its Operational Risk and Process Safety Expertise To The PSM Software Market
VelocityEHS Brings Comprehensive Safety And Chemical Management Functionality To A Well-Rounded Process Safety Solution
VisiumKMS Leverages Deep Expertise To Offer Customers A Powerful Pure PSM Solution
Figure 2. Process Safety Management Functions, Components And Data Streams
Figure 3. Technical Capabilities Criteria For PSM Software
Figure 4-1. Functional Capabilities Criteria For PSM Software
Figure 4-2. Functional Capabilities Criteria For PSM Software
Figure 5. Momentum Criteria For PSM Software
Figure 6. Green Quadrant PSM Software Solutions 2021
Figure 7-1. Capability Criteria Scores
Figure 7-2. Capability Criteria Scores
Figure 7-3. Capability Criteria Scores
Figure 7-4. Capability Criteria Scores
Figure 8-1. Momentum Criteria Scores
Figure 8-2. Momentum Criteria Scores
About the Authors
Kel Udeala
Industry Analyst
Kel is an Industry Analyst at Verdantix. His current agenda focuses on EHS, Industrial Hygiene and Occupational health software. He has a background in oil and gas, rene…
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Victor Voulgaropoulos
Senior Analyst
Victor is a Senior Analyst in the Verdantix Operational Excellence practice. His research agenda focuses on asset management solutions and their overlap with industrial risk m…
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Bill Pennington
VP Research, EHS & Risk Management
Bill is the VP Research for the Verdantix EHS & Risk Management practices. His current agenda focuses on understanding the evolution of EHS and enterprise risk management,…
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