In the complex landscape of environmental, health, safety (EHS), and environmental, social, and governance (ESG) & sustainability, businesses need reliable, trustworthy, and adaptable software solutions. Solutions that streamline processes, ensure compliance, and drive positive outcomes across those areas. However, the journey towards finding the right vendor can feel daunting, with many things to consider. So, where should businesses start when looking for the best EHS &/or ESG software vendor to fit their needs?
Independent analyst firms, like Verdantix, leverage their deep industry expertise and extensive market research to identify emerging trends and unmet needs, then disseminate this valuable information through reports, webinars, and direct consultations. This wealth of knowledge is a crucial tool for businesses looking for EHS software and sustainability reporting solutions.
In this article, you will learn:
- The benefits of independent analyst insight for specific markets, such as EHS & ESG
- The different types of analyst reports available to for EHS and/or ESG & Sustainability reporting software
- The specific insights that independent research and advisory firms brings to the EHS & ESG markets
What Are the Benefits of Independent Analyst Insights for the EHS & ESG Software Buyer
Independent analyst insights from institutions provide invaluable benefits for niche markets like EHS & ESG. These specialized analysts offer unbiased, in-depth analysis and understanding of industry trends, regulations, and best practices. This enables businesses to make informed decisions regarding risk management, compliance strategies, and technology investments.
Further, independent analyst reports can lift vendor visibility and support credibility. This allows prospective buyers to uncover more vendor options than those prominently dominating established market-leading positions.
Some analysts specialize in specific markets or industries — such as Verdantix with a focus in the areas of EHS, ESG, Operational Excellence, Net Zero & Climate Risk, and Risk Management – while other analysts focus on macro themes, such as enterprise leadership, with divisions into more micro fields, such as EHS.
More specifically for the EHS market, there has been a radical shift in recent years ushered in by both the “ravenous appetite for robust environmental management solutions brought on by the ESG megatrend” and the subsequent elevation of EHS functions within organizations.1 As a result, EHS leaders must solve the complexities of interlinking EHS vendor solutions that span both traditional EHS functions and sustainability reporting and visibility.
Organizations facing rapid advancement, challenges of digitization, and the need for regulatory compliance and deep data insights can take advantage of the insights provided by independent analysts in the EHS & ESG software space.
What Are the Different Types of Reports Produced by Independent Analysts and Why Are They Important?
There are many types of research and reports offered by independent analysts, and each have their own unique value. Below are examples of common assets provided for the EHS & ESG software market.
Quadrants Reports for Vendor-Specific Detailed Scoring
The Quadrant report provides an in-depth and detailed fact-based comparison of prominent vendors in a particular market. Vendors provide the analyst firm with questionnaire responses, live product demonstrations, and various interviews to be assessed and scored on their capabilities.
These reports provide insights into the market at large with profiles of each vendor, a matrix of scores, and a placement of vendors on a quadrant grid with values such as leaders, innovators, etc. See example below from the Verdantix Green Quadrant EHS Report from 2023.
Quadrant reports are popular reports and optimal for in-market buyers looking for direct insight into vendors and comparative metrics.
Smart Innovator Reports for High-Level Benchmark Capabilities
The Smart Innovator report serves as a valuable tool for software buyers, offering a broad assessment and high-level benchmark of software solution vendors’ capabilities. Managers, professionals, and executives can leverage these reports to gain insights into providers within a particular market or industry, facilitating comparisons of vendors’ core functionalities. Additionally, these reports delve into the primary benefits, driving factors, and innovations shaping the software market.
These reports are best suited for early-stage buyers or tech stack connoisseurs looking for an abridged version of insights and general vs specific metric assessments. To see an example of a Market Innovator report, check out the 2024 Smart innovators Report for Water & Wastewater Management Software by Independent Analyst, Verdantix.
Buyer’s Guides for Executives
The Buyer’s Guide reports furnish executives with current analyses of leading software platforms tailored to specific industries. Individual vendors are profiled; however, unlike Quadrant or Innovator reports, these do not come with any type of scoring metrics – specific or generalized.
Drawing from vendor questionnaires, internal research, and publicly accessible data, these reports also offer insights into current and future market drivers. See below for an example:
Executives can leverage this guide to grasp the prevailing landscape of industry solutions and the typical functionalities available. These help guide their quest for a provider aligned with their business requirements. To see an example of this type of report, check out the 2023 Buyer’s for Guide Occupational Health Software by Verdantix.
Market Insights for Field-Specific Executive Leadership
Market Insight reports are a useful tool for executives looking to understand the metrics and activities key to a particular market and how technology can support those practices and data collection. These insights are tailored to leaders focused on solving the nuanced challenges of today with an eye towards broader market trends, such as the increasing reliance on EHS for ESG metrics and program success. To access a Market Insight report by Verdantix, please check out Market Insight: The Role Of EHS In Corporate ESG Ratings.
What Are the Current Insights Analysts Have for the EHS & ESG Software Markets?
With so much movement in the EHS & ESG markets, and thus the software solutions that serve them, knowledgeable 3rd party perspective can provide EHS & ESG prospective software buyers and those with general interest in these fields with invaluable insights. Below are some highlights across the various reports that Cority has licensed from independent analyst, Verdantix. These reports have been made available to its audience and can be accessed below.
Green Quadrant Report: Green Quadrant EHS Software 2023 – Verdantix
Interest from investors is ramping up as demand for EHS solutions reaches new heights. The primary accelerators for EHS software market growth over the next five years are a broader addressable market due to ESG functionality expansion, advancing customer maturity as organizations pursue proactive risk management strategies, and consolidation plans among large enterprises, leading to inflated software licenses.
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Since the last iteration of the Verdantix EHS Software Green Quadrant, Cority has continued to deepen its expertise in IH and OH and has expanded into new territory through the acquisition of ESG software specialist WeSustain in May 2021. Arguably the most impactful development over the past two years has been the release of CorityOne. The firm’s integrated software as a service (SaaS) platform, which has seen further enhancements since its release in 2021.
Green Quadrant Report: Process Safety Management Report 2023 – Verdantix
Buyers of PSM software from industries with high process risk seek comprehensive, configurable and easy-to-use solutions. These solutions enable strong foundations for incident management and engage workers on integrated EHS risk management and safety culture improvements.
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Cority is continuing to invest in ease of use, engagement, risk management, control of work (CoW) and advanced analytics – with an emphasis on AI – to enhance its PSM solutions and deliver insights driven by richer, more varied data. The firm had the greatest industry penetration of all profiled vendors across the eight categories included in this analysis.
Green Quadrant Report: ESG Reporting And Data Management Software – Verdantix 2023
Reporting on ESG and sustainability metrics has also shifted from being “nice to have” to “must have” for many corporates. As a result, ESG reporting and data management software has emerged as its own software category.
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Cority’s Sustainability Cloud offers various tools to enable and support collaboration across all geographies and business functions. It includes an interactive outreach tool to help customers get assistance through data management tools, task management functionality, automated reminder e-mails and dashboards.
Green Quadrant Report: Enterprise Carbon Management Software 2023 – Verdantix
The C-Suite, along with their boards, are accelerating transparency within organizations around the current state of their emissions and the potential future state under different action plans and scenarios. [This has resulted in] greater demand for voluntary carbon reporting and carbon management software adoption.
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Cority scored highly for its supplier engagement capabilities, which offer scorecards, risk flagging, and action allocation so users can evaluate and guide suppliers.
Smart Innovators Report: Environmental Compliance Software 2024 – Verdantix
Firms should consider the internal efficiencies and legal risk mitigation opportunities of environmental compliance software. Furthermore, international regulatory trends prompt the proactive adoption of digital solutions to manage environmental compliance.
Smart Innovators: Water & Wastewater Management Software Report 2024 – Verdantix
Regulation shifts, increased ESG scrutiny and climate change are all rapidly changing the dynamic landscape that is water and wastewater management. To manage the complex systems that are involved, firms are leveraging commercial and specialized software solutions.
Smart Innovators: ESG Reporting and Data Management Software 2023 – Verdantix
As ESG disclosures become mandatory, firms will need to generate investor-grade data that is auditable, accurate and timely. Therefore, corporates will need tools to aggregate data and facilitate data audits and assurance of processes.
Buyer’s Guide: Occupational Health Software 2023 – Verdantix
A shift to a dynamic working environment and enterprise-wide decision-making is driving occupational health adoption. The digital administrative functionality of OHS has become a critical resource for employers. OHS has shown adaptability to new physical and psychological workplace risks with the development of travel, immunization and wellbeing management.
Buyer’s Guide: Air and GHG Emissions Management Software 2023 – Verdantix
The market for emissions management is undergoing a period of accelerated innovation. Innovation driven by incoming mandatory ESG regulation, pressure to back up net zero commitments, and unprecedented levels of scrutiny over emissions data.
Market Insight: The Role Of EHS In Corporate ESG Ratings 2023 – Verdantix
Verdantix foresees that the capture of quality ESG data will fall under the remit of EHS teams. Our global corporate survey data reveal that 44% of organizations expect the EHS function to have full ownership of defining and delivering their global ESG strategies over the next two years
Check out Cority’s resources page or request a demo today to learn more about Cority’s solutions and how they can benefit your organization.
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