11 December 2008
Maidenhead, Berks, UK
SABIC selects Active Risk Manager for Enterprise Risk Management
Contract for $379,200 awarded to Strategic Thought for risk management software
Strategic Thought Group plc, provider of enterprise risk management software Active Risk Manager, today announced a major new contract with Saudi Basic Industries Corporation (SABIC) one of the world’s top 5 petrochemical companies. SABIC evaluated 4 different risk management solutions and chose Active Risk Manager.
SABIC is one of the world’s leading manufacturers of chemicals, fertilizers, plastics and metals. SABIC sells its products downstream to other companies, who use them to make the products on which the world has come to depend. These products range from clothing, kitchenware, shampoos and food grown using fertilizers manufactured by SABIC to washing machines, vehicle parts and materials for the aerospace industry.
Active Risk Manager, launched in 2001 as the first web-based enterprise risk management software system, supports multi-cultural processes from different areas such as corporate, audit, management and projects by consolidating data to record, manage and mitigate risk.
The product is currently in use by many of the world’s leading organisations including Lockheed Martin, NASA, Nestle and Network Rail in the UK.
Martin Metcalf, Chief Executive Officer of Strategic Thought concluded, “Active Risk Manager (ARM) provides a common standard for Enterprise Risk Management ensuring compliance and transparency across business units, enabling process improvements and increased rewards. Some of the world’s largest organisations are working with ARM to share costs and risks throughout their enterprises, minimising business interruption from the supply chain and increasing rewards through the improved quality of their risk management data. We welcome SABIC to the ARM community and look forward to helping the company deliver reward from comprehensive enterprise risk management.”
Saudi Basic Industries Corporation (SABIC) is among the world’s top 5 petrochemical companies. The Company is among the world’s market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.
SABIC has significant research resources and has 16 dedicated Research and Technology and application centres in the Middle East, the Americas, Europe and Asia-Pacific. The company operates in more than 40 countries across the world with over 31,000 employees worldwide.
In Saudi Arabia, the company has 20 world-scale complexes and 19 of them are located in the industrial cities of Al-Jubail and Yanbu. Elsewhere SABIC manufactures on a global scale in more than 45 countries in the Americas, Europe and Asia Pacific. SABIC’s overall production has increased from 27 million metric tons in 2001 to 55 million metric tons in 2007.
Headquartered in Riyadh, SABIC was founded in 1976.
Active Risk Manager from Strategic Thought Group plc
Strategic Thought Group (STG) provides risk/reward-focused software and services to enable true enterprise-wide risk management. Active Risk Manager™ (ARM) from STG is the world's leading web-based Enterprise Risk Management system. ARM enables the identification, registration, communication, analysis and management of risks and opportunities.
ARM aids compliance with project, operational and enterprise-wide guidelines. The effective management of risks and opportunities allows companies to act within corporate governance requirements and industry standards while balancing the risk/reward mix to maximise the return on opportunities.
STG was founded in the UK in 1987 and opened offices in the US in 2004. Active Risk Manager is used by major organisations around the globe including BAE Systems, British Nuclear Group, Rio Tinto, Lockheed Martin, Nestle, NASA, London Underground, Raytheon and SABIC.
For further information and a detailed view of Strategic Thought's products and services visit www.strategicthought.com or call +44 (0)1628 582500 (EMEA) or +1 703 673 9580 (Americas).
Mary Phillips/Andreina West
PR Artistry Limited
T: +44 (0)1491 636500
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