Smart Innovators: Operational Risk Management Software
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Executive Summary
This report provides operations, production and safety managers with a high-level assessment of the emerging category of operational risk management (ORM) software. Lost revenues, regulatory fines and costly reputational damage caused by accidents and shutdowns has resulted in Board-level risk committees looking for better risk controls at the operational level. The combination of enterprise-class ORM software, dynamic digital twin models, internet-connected equipment and graph databases provides the solution. To help operations managers identify potential vendors this report compares 22 ORM software providers, identifies each vendor’s strengths and weaknesses and charts the future course of an ORM reference architecture. Vendors are converging on the market with different product strategies and at present buyers will not find a single ORM software application that meets all usage scenarios globally. The next generation of ORM solutions will be built on a product architecture which permits the rapid creation of asset-level risk models.
Table of contents
Smart Innovators: Operational Risk Management SoftwareOperational Risk Management Is Moving Up The Corporate Agenda
Recent Innovations Position Technology As A Valuable Support For Operational Risk Management
Introducing The Operational Risk Management Software Market
Vendors Converge On The Operational Risk Opportunity From Different Directions
Operational Risk Management Software Has Nine Primary Capabilities
Buyers Will Struggle To Find A Single Vendor With A Globally-Applicable ORM Application
Product Architecture Innovations Will Determine Which Vendors Win
Table of figures
Figure 1. Innovations Increase The Potential Of Technology For Operational RiskFigure 2. Vendors Converge On Operational Risk Management With Different Capabilities
Figure 3. Vendors Anticipate Double Digit Growth In ORM Software Sales
Figure 4. Operational Risk Management Software Capabilities Assessment
Organisations mentioned
3M, ABS Group, Accenture, Across Safety Development, Adapt IT, AgensGraph, Airsweb, Aker Solutions, Amazon, AON, Aquamatix, ArangoDB, ASK-EHS, AssessNet, AssurX, BASF, Bayer, Beakon, BHP Billiton, BMW, Boeing, Bumi Armada, Business Safety Systems, Centrica, CGE Risk Solutions, Cority, Credosoft, Cresent, DAQRI, Dassault Systèmes, Deloitte, DNV GL, Dräger, Duke Energy, E2G RBI, ecom Instruments, Enablon, Engica, ETQ, eVision, EY, GE, GEMsoft7, GS Caltex, HANDS HQ, Hess, Honeywell, IBM, Ideagen, IFS, Infor, Intelex, ioMosaic, iPoint-systems, iProcess, IQ Integrity, IsoMetrix, j5 International, Kanepi, Lloyd’s Register, Lufthansa, Maersk, Mangan Software Solutions, Metegrity, MetricStream, Microsoft, Mitratech, Modjoul, Neo4j, NiSoft, OMEGA, Operational Sustainability, Optial, Oracle, Origami Risk, Petrotechnics, PTC, RAP International, Realwear, Resolver, Riskonnect, RiskPoynt, Rolls-Royce, SAI Global, Samarco, SAP, Schneider Electric, Siemens, SoCalGas, Sphera, Statoil, TapRoot, TenForce, TIBCO Software, Total, UK Metropolitan Police, UL EHSS, US Bureau of Labor Statistics, US Environmental Protection Agency, US Oil & Refining Co, US OSHA, Vale, VelocityEHS, VisiumKMSAbout the authors
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