A recently released report by industry analyst Verdantix titled “IsoMetrix takes on Enterprise Risk Management for Large Capital Projects and Firms” describes IsoMetrix’s successful and rapid expansion into North America, Europe, and Australia. The report is one in a series of covering prominent EHS software vendors.
According to the report, IsoMetrix is “one of the few vendors with a unique heritage for meeting customer requirements that are less common in developed economies.” After growing in its home market of South Africa, IsoMetrix has now successfully expanded its business into Australia, Europe and North America. The report highlights the four strategic strengths that have powered the company’s international growth:
Verdantix describes IsoMetrix as possessing a “Risk-centric vision For EHSQ management that underpins its growth strategy. IsoMetrix has a product strategy that puts risk management at the center of its EHSQ systems, combining this with powerful functionality for stakeholder engagement to enable large extractive projects. This strategy has allowed it to successfully compete against larger, entrenched competitors.”
IsoMetrix aligns its EHSQ platform with multiple ISO management systems. The report states that “Firms have used the IsoMetrix platform to ensure compliance against OHSAS 18001 Occupational Health and Safety, and ISO 9001 Quality Management.” IsoMetrix also allows customers to assess severity, assign corrective and preventative actions and manage performance across a spectrum of risk-based issues such as for food safety, process compliance, and occupational hygiene purposes.
The report commends IsoMetrix’s expertise in providing ESG reporting to enhance social license to operate needs and recommends that customers seeking to strengthen cross-functional and site-specific visibility on enterprise risk management should test the IsoMetrix solution.
IsoMetrix is ideal for complex operation sites, not just corporate hierarchies. “The IsoMetrix workflows for social sustainability, social-economic analysis, EHS and grievance mechanisms are highly configurable.” As a result, it is easier for organizations to work on a site-by-site basis, where each site has distinctive environmental and social sustainability requirements. According to the report, prospective users who stand to gain the most from using IsoMetrix are those who:
Involve functions such as Investor Relations and Sustainability on stakeholder engagement and reporting for environment, social and governance (ESG) purposes.
Integrated Reporting was first formally adopted through the South African King III Report on Corporate Governance in 2009. IsoMetrix is intimately familiar with the requirements for integrated reporting, according to Verdantix. The financial materiality for social and environmental issues is widely accepted within the CDP (formerly the Carbon Disclosure Project), GRI, The International Integrated Reporting Council (IIRC), The Sustainability Accounting Standards Board (SASB) and other frameworks.
IsoMetrix customers that have already published integrated reports and engaged shareholders on environmental, social and governance (ESG) issues include Transnet, Africa’s largest rail company.
IsoMetrix plans to further strengthen its global footprint, by continuing to target heavy asset and infrastructure sectors with complex enterprise risk management needs. The report states that “Verdantix analysis finds that firms seeking to strengthen cross-functional and site-specific visibility on enterprise risk management will benefit the most from IsoMetrix offerings.”
Says Paul Marketos, director of IsoMetrix: “Verdantix is the leading analyst firm focussing on companies in our sector. We value the acknowledgment by Verdantix of the differentiators our software brings to the market. Very few products offer the breadth of functionality across a single, integrated platform that IsoMetrix provides. This has been a key factor behind the success we have experienced to date as we have entered new markets.