The challenge
Understand water-related risks exposure in multiple locations around the world
The company aimed to comprehend their susceptibility to water-related risks in numerous locations globally. Their deep knowledge in the industry helps them recognizes that water risks are ever-changing and the standard global public tools fall short in meeting their requirements for the following reasons:
Outdated information: Infrequent updates to data, making it challenging to be proactive and address changes promptly.
Erroneous conclusions: Inadequate granularity of data, leading to incorrect risk exposure levels and assessments.
Inaccurate risk scoring: Risks are not tailored to specific assets, resulting in inaccurate risk scoring.
As a result, a dedicated team had to be established to seek solutions that would not only
benefit their organization but also their customers and other companies confronting similar challenges. The team was on the lookout for a solution that could be easily scaled worldwide, provide continuously updated information, and furnish detailed insights to respond to identified risks and safeguard the business and the environment. As a leading innovator themselves, they chose to explore Waterplan.
The solution
Simplifying water security with Waterplan
Waterplan software was implemented across several production facilities in Asia and Europe. The platform allows the company to monitor potential water challenges in a granular and continuously updated way. Waterplan grants with a range of tools, to quantify risk, and understand how risk changes over time, providing a deeper understanding of the interaction of the facilities with the environment, identifying risks and opportunities to mitigate them.
By swiftly amalgamating all data associated with water accounting, production, and financial metrics from each site, the dedicated team is utilizing Waterplan to not only evaluate the financial impact of water-related risks but also to gain organized insights that were previously unknown even in locations where they thought they had a thorough understanding.
Benefits
Taking action with confidence
Prior to using Waterplan, owing to lack of trustworthy data, The company's confidence in its measurement of water related risks was lower. Successful implementation and usage of Waterplan has provided the following benefits:
INTERNAL STAKEHOLDER ALIGNMENT
Now using real-time catchment data, the company is continually monitoring the local dynamics of water. This creates alignment across the different stakeholders on priorities and hotspot locations.
GRANULAR DATA
It also monitors its site-level data such as facility water balance, production lines, efficiency rates, internal infrastructure, and projected increased production. This information is combined with the local dynamics of water for the region.
NEAR REAL-TIME RISK EVALUATION
If any of the variables being monitored changes, financially quantified risks are updated accordingly. Particularized action plans are created in conjunction with the teams to better align the response strategy to the business capabilities.
Results
Scaling water management with ease by using Waterplan
Since deploying Waterplan, the global manufacturer corporation has been able to significantly accurately assess water risk across locations. The platform's near real-time monitoring and analysis capabilities have helped the company identify water-related issues more quickly and effectively.
$100K cost savings
By using Waterplan,costs in evaluating water risk were reduced. Implementing Waterplan across different locations allowed the company to reduce more than $100K in expenses and improved the effectiveness of their water management activities.
75% reduction in time to understand risk in overseas operations
By eliminating the need for multiple data sources and manual data entry, the team has streamlined its operations and reduced the number of meetings and time related to water risk analysis and management in overseas operations by 75%. Owing to improved data quality and reduced errors, the company is able to rapidly gain context and make informed decisions.
10x Frequency and Visibility
3 Countries where water risk is being evaluated with increased frequency
As a global leader in the water treatment industry, has achieved an impressive feat by scaling its water management activities to 3 different countries and has transitioned to monthly monitoring of water-related data.
About the company
In brief
Founded 70 years ago, the company is a large manufacturer, providing water treatment chemicals and facilities as well as process treatment chemicals with a presence in 18 nations. The Group utilizes its comprehensive capabilities to solve water and environment-related issues of its customers positioning themselves as a leader in its industry.
