Prometheus Group is proud to be announced as a leader in the process safety management software space by Verdantix for our Prometheus RiskPoynt solution.
Verdantix, a leading independent research and advisory firm, recently released their Process Safety Management (PSM) Software Green Quadrant. In this Green Quadrant, Verdantix ranked 15 solution providers on functional capabilities, advancements for mobile PSM, integration capabilities between PSM and enterprise asset management (EAM) systems, and PSM solution provider future vision. These vendors were:
| Walter’s Kluwer Enablon | Sphera | Intelex |
| VelocityEHS | Ideagen EHS | TenForce |
| CorityOne | Hexagon | Yokogawa |
| Ideagen DevonWay | GOARC | AVEVA |
| NiSoft | Mangan Software Solutions | Prometheus Group |
To create their Green Quadrant, Verdantix leveraged their previous research, administered questionnaires, analyzed three-hour long virtual demonstrations, and interviewed PSM software customers. The results are visualized with the following matrix.
Within the report, Verdantix made their evaluation based on 15 Process Safety Management solution capabilities, including:
For each of these capabilities, Verdantix assigned a score based on a scale from zero to three. The meaning of each score is as follows:
For 9 of the 15 capabilities, Prometheus scored a two or above, representing strong capability supported by customer examples. Prometheus Group is among only 5 of 15 providers scoring 1 or higher in all 15 capabilities evaluated. Moreover, Prometheus Group ranked second highest out of all vendors for mobile app product architecture & use cases, platform business intelligence, and process safety information management. In the report Verdantix mentioned:
“Scoring 2.5/3.0 for risk management – the second-highest in this Green Quadrant – Prometheus Group’s acquisition of RiskPoynt has brought compelling barrier management capabilities in-house, with its risk management module allowing operators to test mitigation scenarios and visualize barrier health. For both physical process information management and asset information management, Prometheus scored 3.0/3.0.
Meanwhile, the firm’s CoW solution offers a customizable hazard identification and risk assessment (HIRA) library for storing interrelated work categories, hazards and controls, with the ability to track simultaneous operations (SIMOPS). ePAS also offers dynamic isolation workflows, templates, reporting, and dashboards through strong business intelligence (BI) tools, with the firm scoring 2.6/3.0 in this category.”
We are extremely excited to have Prometheus RiskPoynt featured in Verdantix’ Process Safety Management Green Quadrant.
As part of our integrated and intuitive platform, Prometheus RiskPoynt enables organizations to gain improved visibility into their operational risk management to decrease risks, increase uptime, and maximize efficiency.
Process Safety Management (PSM) software is designed to ensure the safe operation of high-risk industrial processes by systematically identifying, analyzing, and managing risks associated with hazardous chemicals, assets, and operations. It enables organizations to comply with regulatory standards, minimize risks, and optimize operational efficiency. Prometheus Group’s PSM software, particularly RiskPoynt, focuses on integrating operational risk management, improving visibility into risks, and providing tools for mitigating them effectively.
A Process Safety Management program is a structured approach to managing risks associated with hazardous processes, especially in industries dealing with chemicals, energy, and other high-risk operations. It encompasses policies, procedures, and tools to prevent accidents, protect workers, and maintain safe operations.
PSM is critical for industries like oil and gas, chemicals, and manufacturing where hazardous materials and complex operations pose significant safety risks. A robust PSM program helps prevent incidents, reduce downtime, and ensure the well-being of employees and the environment.
Regulatory bodies like OSHA (Occupational Safety and Health Administration) enforce stringent PSM standards to ensure worker and environmental safety. Compliance with these standards is mandatory and involves regular audits, documentation, and continuous improvements in safety processes.
Process safety systems are the tools, technologies, and processes that organizations use to manage risks, ensure operational safety, and maintain regulatory compliance. Examples include:
Integration capabilities are a cornerstone of effective PSM software. The software should seamlessly connect with existing systems such as Enterprise Asset Management (EAM), Enterprise Resource Planning (ERP), and other critical operational systems to ensure a unified flow of data and processes.
The usability of PSM software directly impacts its adoption and effectiveness. It should feature an intuitive interface that minimizes the learning curve for users, including operators, field workers, and management teams.
No two organizations have the exact same processes or risk profiles, making customization a critical factor when selecting PSM software. Similarly, scalability ensures the solution remains effective as the organization grows or evolves.
Comprehensive customer support and training programs are essential for a smooth implementation process and long-term software success.
A well-structured PSM software deployment process not only enhances the effectiveness of the software but also drives long-term adoption and measurable improvements in safety and compliance. Below are the key steps to guide organizations through the deployment of PSM software: \
Prometheus Group’s RiskPoynt has been widely recognized for improving safety performance in high-risk industries by providing real-time visibility into operational risks and enabling proactive decision-making.
Leading PSM software solutions provide comprehensive tools that allow organizations to identify, evaluate, and prioritize risks systematically. These tools help organizations address potential hazards before they escalate into incidents, enhancing overall safety and operational efficiency.
Incident management is a cornerstone of any PSM program, and modern PSM software streamlines this process with robust tools for recording, analyzing, and tracking safety incidents.
Regulatory compliance is critical in high-risk industries, and leading PSM software facilitates this with automated compliance tracking, audits, and documentation tools.
Changes to processes, equipment, or operations can introduce new risks. PSM software with MoC functionality ensures that all changes are managed safely and efficiently.
Safety awareness and compliance depend on well-trained employees, and leading PSM software often includes training modules to address this need.
Preparation is key to minimizing the impact of safety incidents, and PSM software can assist with emergency planning and response.
Process Safety Management (PSM) software transforms risk management by equipping organizations with advanced tools for real-time risk visualization and proactive decision-making. It allows organizations to move beyond reactive safety practices and adopt a proactive approach to mitigating operational risks.
A strong safety culture is the foundation of effective process safety management, and PSM software plays a crucial role in fostering this culture by actively involving employees in safety practices.
The ability to continuously monitor safety metrics and evaluate performance is a hallmark of leading PSM software, enabling organizations to achieve sustained improvement in safety and compliance.
Process safety management is not just a regulatory requirement—it’s a critical component of operational excellence. Implementing the right PSM software enables organizations to minimize risks, enhance safety culture, and maintain compliance with industry standards. From managing changes in operations to ensuring seamless integration with existing systems, the right solution can transform how you approach safety and risk management.
Prometheus RiskPoynt is purpose-built to meet these challenges. With advanced features such as real-time risk visualization, customizable workflows, and dynamic hazard management, RiskPoynt helps organizations proactively identify and mitigate risks, improve operational efficiency, and ensure regulatory compliance. Our platform integrates seamlessly with your enterprise systems, enabling your teams to make data-driven decisions and foster a safety-first culture across your organization.
Want to learn more about how Prometheus RiskPoynt can help you improve your operational risk management? Contact us today to get a personalized demo.