Further focus on ESG capabilities to accelerate time to value across business operations
IFS, has announced the general availability of the second of its twice-yearly IFS Cloud releases for 2023. The release is centered on capabilities that will help customers to increase productivity across their business and leverage digital technology to build agility and operational excellence.
The content of this November release is a continuation of IFS’ goal to help customers in its core industries to build their composable, intelligent autonomous enterprise.
From this release onwards, the company’s recently launched AI architecture IFS.ai’s capabilities will be directly woven into all of IFS’s products and industry specific capabilities. This makes AI widely available across customers’ organizations, enabling them to simulate, optimize, and automate industry-specific business processes and increase productivity of their people, assets and services across their entire business operations.
Enterprises are building business resilience to be able to respond quickly, effectively and in a sustainable way to changing macro-economic conditions. Achieving this for the longer term requires them to build agility and adaptability to mitigate risks, creating a bigger dependency on technology innovation. Those companies who have already invested in digitalization will be able to leverage AI faster and manage their operational performance, as well as increase productivity.
To this end, the November IFS Cloud release continues to focus on three strategic business themes:
- Optimize People, Assets and Services
- Connect Global Operations
- Achieve ESG Goals Profitably
Optimizing People, Assets and Services:
IFS Cloud uses AI, ML, IoT and automation to streamline processes related to people, assets, and services and improve data quality and compliance.
- Maximize capacity utilization by combining cross business insights and intelligent automation. (Manufacturing Scheduling & Optimization, ERP)
- Improve yield and throughput, reduce costs, and enhance production quality (Intelligent Automation in Manufacturing ERP)
- Boost order fulfilment, enhance productivity and improve customer service levels. (Supply Chain, ERP)
- Avoid maintenance procedure delays and minimize IT administration. (Aviation Maintenance)
- Maximize crew efficiency and reduce costs with higher first-time-fix rates. (Planning & Forecasting in Service Management)
Connect Global Operations:
IFS Cloud breaks down data and other operational silos, aligning and connecting people to identify risks and opportunities. The latest enhancements continue to target unwanted complexity, reduce downtime, and positively impact customer services. Advanced management capabilities include:
- Combine critical business data and transaction updates to optimize offshore maintenance operations between shore and offshore assets. (EAM)
- Experience efficient and reliable service delivery with process automation along the entire financial value chain. (Service Management)
- Reduce costs and complexity and experience fast, efficient document signing with electronic signatures through Adobe integration. (Asset Management)
Achieve ESG Goals Profitably:
As customers and consumers become more demanding of a company’s ESG stance, a clear strategy and ability to deliver results will create long-term value. IFS Cloud is designed to help manage and achieve ESG goals, profitably and transparently. The latest update allows industries to leverage data to measure progress against commitments, demonstrate accountability, reuse components, reduce production costs and increase revenue.
- Quickly access ESG-focused insights across energy consumption, materials used and DEI for more informed decision-making. (Lobbies in IFS Cloud)
- Easily and accurately track progress against Scope 1 and 2 sustainability goals. (IFS Cloud Emissions Tracker)
- Reuse components for re-manufacturing and reduce production costs. (Supply Chain, ERP)
Christian Pedersen, Chief Product Officer, IFS, said: “Accelerating digital transformation remains a top priority for our customers as they continue to depend on technology to build predictability in performance and resilience in their business. With this latest release of IFS Cloud, we have stayed true to our product vision to enable customers to adopt our innovation out of the box.” Pedersen added: “This includes our commitment to providing a product that stays evergreen. Delivering a composable option that provides a clear path to always being up to date with the latest digital and AI innovation is central to that.” He concluded: “IFS.ai capabilities already exist in IFS Cloud, and we are continuing investment into this area. Our aim with AI is to make organizational-wide impact for all our customers across all their users.”
