Further focus on ESG capabilities to accelerate time to value across business operation
IFS recently announced the general availability of the second of its twice-yearly IFS Cloud releases for 2023.
This new November 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 latest content is a continuation of IFS’ goal to help customers in its core industries to build their composable, intelligent autonomous enterprise.
Capabilities
From this release onwards, the company’s recently launched AI architecture IFS.ai’s capabilities will be directly woven into all 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, according to a press release.
Strategic business themes
To this end, the November IFS Cloud release continues to focus on three strategic business themes:
Optimize People, Assets and Services; connect Global Operations and attain ESG Goals Profitably.
IFS Cloud uses AI, ML, IoT and automation to streamline processes related to people, assets, and services and improve data quality and compliance.
The goals are to 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) and Boost order fulfilment, enhance productivity, and improve customer service levels (Supply Chain, ERP) among others.
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 combining critical business data and transaction updates to optimize offshore maintenance operations between shore and offshore assets (Enterprise Asset Management-EAM), experiencing efficient and reliable service delivery with process automation along the entire financial value chain. (Service Management) and reducing 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.
“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,” asserted Christian Pedersen, Chief Product Officer, IFS.
“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,” he concluded.
