May 23, 2018   SOURCE: BusinessWire

Verdantix Launches New Operational Risk Research Solution For Asset Managers And Production Leaders

Independent research firm Verdantix today announces the launch of a new operational risk research solution. The research assesses the potential for technology to enhance barrier management, risk planning and controls, process safety management, management of change and permit to work processes. Technologies covered by the Verdantix operational risk research solution include operational risk software, industrial wearables, drones, intrinsically safe devices, asset integrity systems, remote monitoring, digital twin asset models and risk analytics.

“Digital technologies are converging with operational equipment which is creating the potential to improve risk management for assets like oil rigs, chemical plants and power stations” stated David Metcalfe, Verdantix CEO speaking at the Verdantix EHS Innovation Summit in Houston. “Our operational risk research helps operations leaders in sectors such as chemicals, oil and gas and utilities to understand how they can enhance risk management across the asset lifecycle. Innovations like digital twin asset models, IoT sensors and Neo4j graph databases will significantly enhance operational risk frameworks.”

Clients with a subscription to the Verdantix operational risk research solutions can already access unique content including a Smart Innovators report which assesses 22 operational risk software vendors, a Tech Roadmap study which covers 20 categories of operational risk technology and case studies on vendors such as eVision, RiskPoynt and VisiumKMS. In July clients will have access to a benchmark survey on operational risk management conducted with 200 managers in operations, production and maintenance roles.

“This is a new software category. Controlling risks at the level of physical assets requires entirely different technologies compared to financial and IT tools offered by GRC vendors” stated Verdantix Principal Analyst, Malavika Tohani. “There is everything to play for in the operational risk management software market where projects often exceed $3 million and three quarters of vendors anticipate double digit growth in 2018. We’re also seeing system integrators like Accenture, Deloitte and Infosys target this market.”

Verdantix operational risk software research covers vendors like Cresent, DNV GL, Enablon, Engica, Ideagen, Intelex, Isometrix, Operational Sustainability, Optial, Petrotechnics, RAP International, SAI Global, Sphera, Tenforce, UL EHSS, VelocityEHS and VisiumKMS. To learn more about the market register for the forthcoming webinar “Managing Operational Risks With A Technology Roadmap” on Thursday May 31.