Digital Twin Technology Addresses Operational Risk Management

May 20, 2019
Sphera launches digital twin software for operational risks.

Sphera, provider of integrated risk management software and information services with a focus on environmental health and safety, operational risk and product stewardship, launches its operational risk management (ORM) digital twin software offering on the SpheraCloud platform. Digital twin software brings together data collected from enterprise systems, mobile applications, sensors and human-derived inputs as part of an Industrial Internet of Things (IIoT) strategy to produce a computer-generated risk map on Sphera Cloud, according to the company.

The technology includes an early warning system that makes all risk exposure visible, prominent and available in real time. This is designed to help reduce organizations’ vulnerability to high-potential near-misses and major hazards. ORM digital twin technology reportedly allows companies to improve their risk management capabilities while improving productivity and managing costs. The company says its ORM for Operations offerings, formerly known as Petrotechnics, received the highest score among all software providers for digital twin capabilities according to the 2019 Operational Risk Management Green Quadrant report written by the independent industry analyst firm Verdantix. Sphera is hosting a webinar with Verdantix on June 12 for those interested in learning more about ORM digital twin.

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