KMI EHS Software Logo

Conclusion

While reducing losses from workplace injuries, compliance violations and wasted resources are worthy goals in their own right, demonstrating that they can be achieved along with a measurable net cost savings to the organization means implementation can be justified even in the most challenging business climate. In fact, a careful NPV analysis may prove that implementing an EMIS is a crucial step in achieving stated company-wide cost reduction goals or supporting effective risk management with an already lean EHS staff.

Every company can identify real cost savings from implementing an effective EMIS. Documenting these potential savings and using them to calculate the Net Present Value of a system investment is an effective strategy for getting collaborative executive support, particularly in a tough economic environment. Not only does this approach help present the investment in a manner that is familiar to finance-minded executives, it also demonstrates the EHS manager’s understanding of business realities and his commitment to the financial success of the company.

Additional Papers in this Series

KMI is publishing a total of three papers in the Cost Justification Strategies for an EMIS Implementation series. Topics of the other two papers include Cost Benefits Analysis and Assembling and Presenting Your Business Case. These papers are scheduled for release in September and November of 2009. Check back with your original source of this paper or visit www.kminnovations.com to download copies as they are published.

About the Author

Since 2007 Bruce McMahon has used his extensive background in enterprise systems implementation and international business management to provide project management, consulting, and training services to clients implementing KMI EHS software. Prior to joining KMI, Bruce spent several years in the finance industry as a business analyst and project manager, consulting for the development and integration of accounting financial systems. Along with his real world experience Bruce holds a Masters of Business Administration (MBA) in Finance and Project Management, and is a holder of the Project Management Professional (PMP) designation. Bruce can be contacted directly at bmcmahon@kminnovations.com or (416) 410-4817.

About KMI

KMI provides flexible, scalable and usable web–based software solutions that help companies operate more safely and efficiently, increase regulatory compliance, control environmental impact, and reduce corporate risk. KMI is a trusted supplier of EHS Management Information Systems (EMIS) to manufacturing, mining, consumer products, energy, transportation and biotech companies ranging in size from hundreds to over a hundred thousand employees. For more information please visit www.kminnovations.com or call (866) 919-7922.


Register with KMI here to download the PDF version!

< Previous 1 2 3 4 5 6 7