Three Usage Scenarios Drive Industry Demand For ORM Software

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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.

Table of contents

Operational Excellence Managers’ Appetite For ORM Software Varies By Industry
Positive Engagement With Software For Industrial Risk Management Varies Significantly
Three Usage Scenarios Explain Variations In The Perception Of ORM Software

Table of figures

Figure 1. Significance Of Operational Risk Management Software By Industry

About the authors

Sebastian Winter

Industry Analyst

Sebastian is a Technology Analyst in the Verdantix Operational Excellence practice. His research agenda focuses on covering industrial risk technologies, best practices and growth strategies. Prior to joining Verdantix, Sebastian worked for Trucost, a division of S&P Dow Jones Indices, and held positions in China, Brunei and Kenya. Sebastian holds an MSc in Environmental Technology from Imperial College London.

David Metcalfe

CEO

David co-founded Verdantix in 2008 and leads the firm’s research and advisory work on the digitization of Operational Excellence which covers software, systems integration, wearables and drones. Prior to founding Verdantix, David was a Senior Vice President at Forrester Research and Head of Analysis and Forecasting for BT. He holds a PhD from Cambridge University in Game Theory and Decision Analysis and worked as a Research Associate at the Harvard Business School.

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