The research details the potential for technology to enhance barrier management, risk planning and controls, process safety management, management of change and permit to work processes.

Ideagen is included in the report thanks to its strength in providing strong incident and change management software solutions.

Gordon McKeown, Ideagen’s head of product, said, “We are absolutely delighted to be named among the thought leaders of the ORM industry in this latest Verdantix research report.

“In recent years, firms with physical operational assets such as manufacturing equipment, railway depots, chemical plants, natural gas pipelines and retail stores have begun using digital technology to identify and control the risks associated with those assets. For large firms, ORM software is becoming an essential part of the digital toolkit to reduce risk and increase production.

“Ideagen customers use our risk management software for several increasingly enterprise-wide use cases, including quality, safety, audit and performance management. Most are building on foundations of compliance and control and are implementing enterprise ORM systems.”

Lost revenues, regulatory fines and costly reputational damage caused by accidents and shutdowns have resulted in Board-level risk committees looking for better risk controls at an operational level.

Verdantix’ "Smart Innovators: Operational Risk Management Software" report provides operations, production and safety managers with a high-level assessment of the emerging category of ORM software.

Read the report here.