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Factors that Drive the Buying Criteria for HSE/EHS & Risk Management Software

The Growing Demand for HSE Technology

(5 minute read)

A 2018 Verdantix study, found that health, safety and environment (HSE or EHS) budgets in global companies would increase by 4% in 2019, with a high percentage being allocated to technology spending. With this increased spending, the proper allocation of those funds becomes crucial. In recent years, many companies have placed substantial attention on technology that improves occupational safety, risk management and environmental compliance, with less focus being placed on HSE consulting. In fact, 60% of HSE leaders perceive innovation as a high priority, and using new technology and software is one method to achieve this. These global industry leaders are doubling down on technology and most are already in the midst of their digital transformations journeys.

The Biggest Drivers for HSE & Risk Management Software

HSE and risk management are deeply intertwined. Today’s businesses want to mitigate operational, regulatory and reputational risk to ensure compliance and drive operational excellence. As a result, this has become the top driver for investing in HSE and risk management software. By minimizing these costly risks, companies expect to improve their bottom-line and increase their competitive advantage. Although some of the desired outcomes are complex to quantify, businesses can often measure success through a pre and post evaluation of the costs associated with injuries, penalties and operational down times – a task which can be expedited with the right software.

When companies begin to evaluate software vendors, they must carefully consider which provider will match their long-term needs; often opting for market leaders that can provide a complete and holistic solution that scales. But while scalability is a consideration, it is an easy-to-use interface that is the most important item for businesses, as usability is tangibly tied to employee productivity.

Another key consideration is cloud and mobile functionality to enable field connectivity. For companies that have regional or global field operations connectivity is paramount; they want to be able to collect and report on field data, issue corrective actions and respond in real-time. In a 2018 Verdantix survey, 74% of HSE leaders said they would expect to be using mobile technology with 34% using it across all operations and 40% using it at multiple facilities. Companies that employ a field workforce have become fast adopters of connected solutions as they see tremendous benefits in terms of the ability to make data-backed decisions quickly.

Further reading: Managing Third-Party Risks in Your Global Supply Chain

Richness in functionality is also important as businesses don’t want an empty workflow engine, they want a robust solution that is easy to configure and supports their industry-specific workflows. More complex global companies also like to assess the architecture of the application and ensure they can implement the software to a specific site or business unit, and then scale it to other worksites or departments. These complex global companies are looking for an enterprise-level solution that includes enhanced data management, superior capabilities for environmental and quality management, security, and best-in-class business intelligence tools.

Industry research shows us that today’s businesses are not looking for a solution that will meet business requirements in the short-term, but instead, they are anticipating what their needs will be in the future. They are looking for scalable and mobile solutions that have user-centric interfaces to avoid barriers to adoption. They also want to keep their costs low and be able to self-manage their robust workflows. Over time, companies that implement an HSE or risk management solution will evaluate the tangible benefits and cost savings that have occurred since the implementation, this evaluation will ultimately determine the success of the system implementation.

Ready to Take Control?

ComplyWorks is a best in class compliance management solution. Our solutions enable global companies to navigate the intricacies of hiring contractors, but the compliance platform goes far beyond that, enabling organizations to achieve a holistic management approach to everything compliance related. With our user-friendly interface and unmatched customer support, you can rest assured that your contractors are ready to work. Our feature-rich platform allows companies to successfully manage their overall Governance, Risk management and Compliance (GRC) programs with contractor management, workforce management, worksite management and in field tracking.

To learn more about how you can transform your compliance management programs, request a free demo today. Be sure to also check out our post on Three Ways to Enhance the Contractor Onboarding Experience.