5 Reasons to Use EHS Software: Cost Savings and More
There are many reasons to use Environmental Health & Safety (EHS) management software in your workplace. Perhaps the most obvious reason is that it can help save you money. But EHS software can also help reduce regulatory fines and penalties, insurance premiums, etc. This blog post will discuss five reasons you should consider using EHS software in your business. We will also provide statistics showing how EHS software can benefit companies of all sizes!
Reduce the number of Accidents and Injuries by 60%
If you are looking for ways to improve your company’s bottom line, EHS software is a great place to start.
There is a median return on investment of five dollars for every dollar spent on safety. This means that EHS software can help you save money in the long run!
In addition, the National Safety Council estimates that every medically consulted injury costs a company $44,000. An accident resulting in a death can cost upwards of $1.3 million in direct costs. By investing in EHS software, you can help reduce the likelihood of injuries and accidents occurring in your workplace. The Occupational Safety and Health Administration (OSHA) reports that businesses implementing EHS software see a 60% reduction in injury rates within 24 months.
According to a survey conducted by Employers, employees consider a company’s safety record before accepting a job offer. Your employees want to be safe. If a company has a reputation for being unsafe, it will be harder to recruit quality employees, bringing a mindset of safety to the table. That mindset alone can help reduce the likelihood of an accident and ultimately positively impact your company’s bottom line.
Avoid Regulatory Fines and Penalties
In addition to saving you money by reducing accidents, EHS software can also help mitigate regulatory fines and penalties. If your company violates safety regulations, you may be subject to costly fines and penalties.
Using EHS software, you can easily manage all necessary documentation anywhere and anytime.
Using digitized forms ensures that essential documentation is never lost. Ensuring that your company will not be opened up to a fine or penalty because documentation was lost.
Besides ensuring your documentation has a central location to be stored, EHS software can help make sure all documentation is completed on time according to regulatory deadlines. Every industry must meet different regulatory guidelines. The larger your company becomes, the harder it is to track what needs to be completed and when. EHS software helps take the guesswork out, ensuring that you will not miss submitting the necessary documentation and receiving a penalty or fine in response.
Lower Insurance Premiums
Insurance companies are always looking to protect their interests. If there is a red flag about your operation, be assured that they will increase your insurance rates. Insurance companies look at the industry you are in, the inherent risk of that industry, the management practices, and what needs to be covered.
Rates will increase the more accidents your company has. EHS software helps to ensure that insurance companies will find your management practices satisfactory. This will help lead to a lower rate. On top of that, it will help reduce your accidents and injuries by developing a culture of safety.
Increased Management Productivity
Environmental Health & Safety software helps increase your management team’s productivity by 50%. It allows them to check the documentation instantly and automate workflows. Status on audits and other necessary documentation can be viewed at a glance.
Reminders can be set up to be automatically sent, removing the management team’s need to complete this and other administrative tasks. EHS reports allow the management team to quickly assess which areas they need to focus on to help reduce costs and improve operational efficiencies. A well-rounded EHS software can do all this and more.
It also reduces their need to travel to onsite locations by assigning audits to other on-site employees. Travel costs add up quickly in flights, gas, hotel rooms, and more. Not to mention that time traveling means time not spent on higher-value tasks. EHS software allows your management to focus on higher-value tasks.
Optimized Operational Performance
A well-rounded software also helps optimize operational performance, helping reduce energy, waste, and water costs.
Environmental health and safety software will monitor what, how and when resources are used. This data can help you pinpoint excess usage within your company’s operations; what we have always considered fixed costs now have the opportunity to be reduced.
Maintenance is something that is often put on the backburner. However, it can be one of the easiest ways to prevent injury and reduce cost. EHS software will help you focus on which items are in most critical need of maintenance and how fixing them will improve your operational efficiency helping to increase motivation to complete maintenance tasks. It will even monitor what maintenance must be completed to meet regulatory standards.
Environmental health and safety software provides many benefits for companies, including cost savings. EHS software can help a company save money on regulatory fines and penalties by digitizing forms and automating workflows. It also lowers insurance premiums and increases management productivity. In addition, EHS software optimizes operational performance by reducing energy, waste, and water costs. Finally, EHS software helps prevent accidents by monitoring maintenance tasks. Implementing Environmental Health & Safety software can help your company save money and improve safety.