Governance, Risk & Compliance

Governance, Risk & Compliance

May 21, 2012

IHS and EnVizTec Collaborate for Operational Risk Solutions

IHS recently announced that it has entered into a strategic alliance with EnVizTec in order to meet the increasing demand for information management solutions in the market. The alliance will not only help global organizations handle operational risks but also facilitate unified strategies for Enterprise Sustainability Management or ESM.

In a release, Woody Ritchey (News - Alert), senior vice president for EHS and Sustainability at HIS, said, “Over the years, we have teamed successfully with EnVizTec to help companies proactively identify risks and prevent losses before they happen. Now we are pleased to expand our alliance in order to help customers cope with those operational risk issues even more effectively while also positioning themselves to address a much broader spectrum of ESM challenges across their business operations.”

According to specialists at IHS (News - Alert) and EnVizTec, companies have been trying on a priority basis to regulate the manner in which operational risks are recognized, analyzed, mitigated and tracked. Companies are also trying to understand their risk profiles in a precise and rapid manner. Wide-ranging approaches to encourage sustainable growth throughout product design and materials planning, manufacturing and operations, resource consumption and daily work processes are also being taken up by the companies.

Rajendra Avargerimath, managing director at EnVizTec, said, “We see organizations around the world struggling to deal with complex risk management issues in the face of relentless pressure to increase productivity and profitability. Our new alliance agreement with IHS enables us to provide best-in-class risk management solutions as part of a cohesive approach to Enterprise Sustainability Management that can help drive operational excellence and uncover a new kind of competitive advantage.”

Stature software, a recently-added element of the IHS Operational Risk Solution, is being resold by EnVizTec since 2008. EnVizTec can now offer a complete portfolio of IHS software, content and services as part of the latest agreement, thereby fulfilling other Enterprise Sustainability Management tasks.

Futuristic organizations are able to fulfill their specific requirements with the help of technology and services provider, EnVizTec, thereby accomplishing high levels of advancements, expense cutbacks, quality and safety and time-to-market enhancement.

Edited by Brooke Neuman

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