Case Study: Solstad Offshore strengthens risk management and sustainability with Profitbase

Solstad Offshore cuts risk reporting spreadsheets with Profitbase and tracks 20,000 green actions in 2022

Solstad Offshore ASA, a major global offshore shipping company, faced the challenge of moving from a basic, spreadsheet-based risk assessment process to a more systematic and professional approach for corporate-level risk management. To address this, they implemented the risk solution from vendor Profitbase.

Profitbase provided a comprehensive system that enabled Solstad to systematically assess, monitor, and report on risks, replacing their old spreadsheets. The results included a more robust and well-founded risk management process, providing essential oversight for sudden changes like geopolitical events. The Profitbase solution also directly supported the company's sustainability goals by helping to manage the business risk of stranded assets and track progress towards its net-zero emissions target, a journey in which it has already achieved 20% operational savings.

Solstad Offshore