Saudi Aramco, the world’s largest oil producer, has selected Active Risk Manager (Arm), the enterprise risk management software from Strategic Thought Group, becoming one of several world-class companies to do so.
The announcement was made by Collaboration, Management and Control Solutions (CMCS), a partner of Strategic Thought Group.
Saudi Aramco supplies around 10 per cent of global oil demand, and has major proven oil and natural gas reserves. In addition to being the top ranked global producer, Saudi Aramco operates refineries, distributes domestically and markets oil internationally as well as owning a tanker fleet. The company has major global investments in refining, marketing and distribution ventures in countries such as Japan, China, South Korea and the US.
“Arm has the proven capabilities to enable the oil industry to take an enterprise approach to risk management,” commented Lynton Barker, executive chairman of Strategic Thought Group.
Saudi Aramco joins a growing group of global players which use Arm to meet their project, programme and enterprise-wide risk management needs. The list includes Rio Tinto, Nestle, Nasa and Sabic.
CMCS, a regional distributor
CMCS, a provider of project portfolio management solutions, had recently partnered with Strategic Thought Group to promote broader use of its web-based Enterprise Risk Management software to enhance enterprise and project management capabilities in the Middle East region. Under the partnership, CMCS will act as the regional distributor and representative of Arm, the most widely deployed web-based ERM software in the world that has been developed by STG. CMCS will be involved in the deployment of Arm in some of the region’s largest and most well known companies.
Arm covers project and portfolio risk, supply chain risk management, business continuity, controls management, reputational risk, health and safety, incident management, governance and compliance risks, among other subjects.
Strategic Thought Group, founded in 1987, is headquartered in the UK and its US operation, Strategic Thought Inc, is based in Washington DC.
