Strategic Focus: Justifying Budget For Industrial Wearables
Kel Udeala
Steve Bolton
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Executive Summary
This report helps corporate EHS managers understand best practices in obtaining budgets for industrial wearable devices, while also highlighting the key challenges that confront firms during this process. With increased visibility into the critical success factors for budget justification, this report also will support EHS managers in developing robust business cases. The industrial wearables market is experiencing strong growth. Despite these enablers, firms still are experiencing barriers to adopting industrial wearables, such as lack of budget and internal buy-in, commercial devices that are insufficient and/or expensive, and hidden costs of initial deployment and ongoing maintenance. By following their peers’ best practices, corporate EHS managers can alleviate these constraints and facilitate the development of a successful business case for wearables adoption.Robust Business Cases And Clear Value Propositions Can Mitigate Budgetary Challenges
Strong Demand For Wearables Despite Several Internal And External Barriers
Adopting Best Practices To Build The Business Case And Avoid Pitfalls
Firms’ Risk Levels Should Guide Budget Justification For Wearables
Risk Level Creates Constraints But Also Provides Business Case Opportunities
Figure 2. Perceived Deficiencies Of Wearable Devices
Figure 3. Industry Segmentation Based On EHS Risk Level
Figure 4. Prioritization Scenarios Based On Risk Level And (A) People, (B) Processes And (C) Technology
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...
Steve Bolton
Research Director
Steve leads the Verdantix EHS research practice, based out of our New York office. He has 25 years of experience advising on sustainability, EHS, circular economy, corporate s...
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