Plummeting oil prices have serious ramifications for environment, health and safety software suppliers because the oil and gas industry is their largest customer base, according to a Verdantix report.
After falling to a six-year low of less than $50 per barrel in January, oil prices are expected to stay low throughout 2015.
This report helps EH&S software suppliers adjust their market strategy for this year and 2016, Verdantix says. The research firm suggests shifting marketing efforts from oil and gas toward sectors benefiting from the lower oil price, targeting chemical companies for enterprise-scale upgrades and looking for opportunities in emerging economies.
EH&S software can help companies not only comply with ever-changing EHS regulations, but can also play a larger role in strengthening EHS management and employee engagement, according to an article on EHS Today.