Over the past several years, the EHS Software has been growing at an incredibly fast rate.
It is predicted that the market will reach $1.5 Billion in 2021 and an astonishing $2.5 Billion by 2026! But what is driving this predicted spike in the EHS Software industry?
With the emergence of IT and sophisticated technologies, digitization has become prevalent in the health & safety industry and will continue to grow rapidly. This digitization has enabled businesses to streamline their processes to become more efficient while emphasizing safety. Verdantix analysts believe that this demand for EHS digitizing their processes will serve as a big driver of the EHS software market growing in the near future. With AI, data analytics and IoT (Internet of Things) as some of the most common trends of digitization, EHS software tools are helping businesses collect, analyze and transform data. As a result of this, company costs decrease while efficiencies increase significantly.
“Everyone knows how tedious filling out forms by hands is – especially in a busy work environment. The lengthy process of filling out paper forms and the associated paperwork is extremely time consuming.“
Everyone knows how tedious filling out forms by hands is – especially in a busy work environment. The lengthy process of filling out paper forms and the associated paperwork is extremely time consuming.
Paper forms may require you to:
- leave the work area
- find the forms
- fill them out accordingly
- refrain from losing them during your busy day
- and then submitting them to the appropriate department or administrator.
Subsequently, keeping these paper forms can cause storage issues and can be easily damaged or lost in a busy work environment. Since they are usually rushed, paper documents tend to be unorganized and illegible, which disrupts business processes and hinders accurate data and the bottom line. Encapsulating all of these disadvantages of paper forms leads to one overarching issue that digital documents aim to solve – data analytics.
There is no easier way to analyze historical data and trends than a software that can do it for you through data analytics. A software that can easily compare, contrast and highlight key findings in your data, and show which way your company is trending by comparing data through different points in time.
Using data analytics software generates much deeper insights and techniques to evaluate and describe your company’s data. With an estimated annual growth rate of approximately 11.5%, you can’t help but wonder why EHS Software is predicted to accelerate. Data analytics is a key component of this. By collecting data itself and presenting it into the dashboard, it allows for real-time monitoring and simplified reporting. Read about all the benefits of data analytics in EHS software here.
EHS Software’s Analytical Value
Key Performance Indicators (KPIs) are a snapshot of how a company is doing at any particular time. Often using these numbers from the past indicate how, as a company, you are changing for the better or worse over a period of time. Many companies tend to use KPI statistics (TRIF, severity, fatality numbers) to grade the companies they want to work with. The ultimate goal of any company/hiring company is to have ZERO Incident / ZERO Harm. When these data points are known and managed, increased safety compliance will result in better KPIs, leading to more work. When a company tracks statistics and KPIs they can develop a clear path forward, improving revenue and safety culture.
In the EHS field, safety is a top priority. Therefore, being able to gain visibility into statistical insights behind your company’s performance is imperative to ensure each safety decision being made is the best going forward. With the emergence of technological advancements, many organizations are realizing the need for technological evolution. In addition to understanding the need of technology and software to streamline business processes, a collective trust in IT is accelerating as technology progresses. This serves to explain a portion of the forecasted growth of EHS Software, but another growth factor has happened very recently; a global pandemic that shed light on the importance of health and safety.
What Covid-19 Did For The EHS Industry
The Covid-19 pandemic has drastically accelerated the adoption of technology in the EHS field. Due to the international health and safety crisis caused by the Covid-19 pandemic, EHS became a key topic of concern for everyone running a business.
According to an article published by an EHS professional, Sandeep Rath, when the Covid pandemic hit: “The key ammunition in the arsenal of these EHS leaders was the access to ACT – Accurate, Complete, and Timely – health and safety data, and real-time and advanced analytics offered by a centralized and integrated EHS software platform.”
EHS leaders around the world ensured health and safety processes were improved and updated. This included things such as sanitization, hazard report protocols and incident investigations becoming more strictly enforced. With this in mind, it only makes sense for companies to adopt a health and safety software system that can securely hold information and cut costs through improving operational efficiency and effectiveness. Click here for more information on how incident investigations and safety compliance can be improved by going digital.
Why Companies Are Going Digital with EHS Software Solutions
The overhead costs pertaining to the production and protection of paper forms are other key areas of concern. By digitizing safety documentation, the process becomes very simple, convenient and is automatically put into a cloud hosted environment that safely stores your data. Cloud computing and data analytics makes it very easy to analyze historical data, trends and produce valuable KPIs for your business. Therefore, these field management key performance metrics will be front and center for administrators to see and make the right decisions going forward. The power of data analytics enables companies to gain a better insight into their operations, therefore improving internal visibility and customer service levels.
“The COVID-19 pandemic has drastically accelerated the adoption of technology in the EHS field.”
Innovative ways to strengthen organizations’ strategies to mitigate health and safety risks have become increasingly common. This includes things such as touchless solutions that have been widely adopted in order to strengthen EHS risk management and compliance within organizations. With risk management and safety compliance becoming increasingly important in the workforce, it only makes sense for safety management to be done as efficiently and effectively as possible.
Adopting safety trends such as touchless solutions and EHS software as a whole will:
- Help safety professionals gain a competitive advantage in the marketplace
- Improve customer service levels
- Gain considerable visibility into leading and lagging safety indicators that affect business processes.
All this enables a company to sufficiently grow. What better way to do this than with a safety management software that tracks and stores all your information and data for you?
Digitizing the process of safety management without the use of paper forms not only makes sense for streamlining safety compliance processes, but it is also environmentally sustainable. As a result, increasing the data collection and analytics capabilities leads to increased visibility through data-driven insights.
With Covid 19 pushing EHS initiatives, and many companies globally converting to fully digital, EHS software services advantages through cloud hosting is clear; cloud computing encapsulates the power of security and computing services to enable databases within a software environment to deliver many different computing services. Data storage, data analytics and data security are all common examples. This is a key component of digitization and EHS Software that is a big advantage for going digital. Read more about how cloud computing is becoming to the new default for EHS mobile apps.
There are several companies that make going digital easy. Doing so can effectively lead to massive cost-savings and enhanced productivity on the worksite. Intelex is a global leader in EHS quality management software with a reputable platform for providing enterprise-level EHS solutions. By leveraging advanced technology, Enablon is another example of a health and safety software that ensures both safety compliance and risk management is maximized.
WorkforceDocs, with a user-friendly mobile app that automates and centralizes all your EHS data collection, makes it very simple to integrate digital forms on the worksite. With fully customizable form capabilities, QR code features, and even offline functionality, WorkforceDocs is an excellent choice for both mid-sized and large-scale companies to go paperless in an affordable way.
WorkforceDocs was designed by safety professionals to create an EHS solution that ensures safety compliance all in a cost-effective manner. The app/interface system allows workers access to all references (legislation, emergency response contacts, safety manuals, SDS’s, etc), training documents, and forms with just the click of a button. As a sophisticated EHS software, it only makes sense to use WorkforceDocs to improve operational efficiency and insight into your business.