Over the past several years, the EHS software market 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 growth 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.“
EHS Digital Document Management
Everyone knows how tedious filling out paper forms can be – 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 an app-based 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 acceleration. 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 performing for the better or worse over a period of time. Many companies tend to use occupational health & safety based 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 from major contractors. When a company tracks its statistics and KPIs they can develop a clear path forward, improving revenue and safety culture.
In the EHS field, worker 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 assisting towards a company’s better future. With recent technological advancements, many organizations are realizing the need to keep up and attain a level of technological innovation beyond their current circumstance. In order to streamline business processes, a collective trust in IT is accelerating as new technology progresses. This serves to explain a portion of the forecasted growth of EHS Software, but another factor is part of the overall growth in EHS software’s popularity; a global pandemic that has shed light on the importance of health and safety while also turbo-charging our level of comfort with all things digital.
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 strict enforcement around such things as:
- Hazard report protocols
- Incident investigations
With this in mind, it only makes sense for companies to adopt a health and safety software system that can securely hold information while cutting costs to improve operational efficiency and effectiveness.
Why Companies Are Going Digital with EHS Software Solutions
By digitizing safety documentation, the field process becomes very simple. Apps are convenient and accessible to each worker, even in offline environments. Data is automatically uploaded into cloud-hosted servers that safely stores 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.”
Touchless EHS Software Solutions
Innovative ways to strengthen organizations’ strategies to mitigate health and safety risks have become increasingly common. This includes 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 while managing safety and profits. What better way to do this than with a safety management software that tracks and stores all your information and data for you?
Digitizing 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.
Owner client organizations have either already made their move to digital or are about to do so. They will expect their contracted companies to do the same. Therefore, choose a company that makes going digital easy on your organization . Doing so can help you win that next project, while effectively leading to massive cost-savings and enhanced productivity on your worksite(s).
Many large software companies are competing with comprehensive and reputable platforms to provide enterprise-level EHS solutions that ensures both safety compliance and risk management is maximized. In 2022 it’s become a competitive environment where companies are managing sophisticated software, often within software-as-a-service environments (SaaS), where these tools can be leveraged by subscription. This ecosystem benefits the customer who has many software choices at their fingertips.
But not all EHS Software is Created Equal
Some cheaper EHS software options for mid-size and small-business lack fundamental elements that are essential to common work-environments, including:
- Offline app functionality in remote environments
- Customization of forms
- Pagination/categorization of administrative environments
- Voice-to-text capabilities, and more.
When reaching out and engaging in demos, ask questions that address the functionality you need in your EHS software choice to be successful.
WorkforceDocs is a user-friendly mobile app and field management software, perfect for mid-sized companies requiring digital EHS document management & field management solutions along with centralized data collection. This software is very simple to integrate digital forms on the worksite. With fully customizable form capabilities, QR code features, and yes, offline functionality, WorkforceDocs is an excellent choice for mid-sized 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. Its features are plentiful, and approach enterprise-level capabilities, allowing your workers access to all references (legislation, emergency response contacts, safety manuals, SDS’s, etc), training documents, and forms with the click of a button.
EHS Software Market — Beyond 2022
So where does the EHS software industry go from here?
- Collectively the EHS software industry must build products good enough to overcome the pressures of the status-quo on the job site. The resistance amongst workers who liked doing it the old way remains very real.
- User-Experience is key. Was the app easy to use in that moment of urgency? Were the right people informed? Was the data added without issue? Is that data now being stored safely and in ways that meet privacy protocols?
- On-boarding is key. The software company’s role in this endeavor to assist company ownership and field management cannot be understated.
- Analytics is key. What is the larger story being told through the numbers? How will that assist a company’s intent towards a safer future for their workers, environmental sustainability through carbon reduction, and business profit growth?
Click here for more information on how your safety compliance can be improved by going digital.