IFS Launches Compelling Industrial AI Capabilities in Latest Release of IFS Cloud

New functionality in IFS Cloud 24R1 enables companies to superpower how they leverage assets and improve service, drive profitability, and use sustainability as a competitive advantage

London, UK, May 30, 2024 – IFS, the leading technology provider of enterprise cloud and industrial AI software, today announced the general availability of its latest IFS Cloud release.

As the only vendor focused on helping asset and service-focused companies leverage the power of Industrial AI, IFS is releasing new AI-powered functionality that enables customers to improve operational effectiveness and profitability.

This May release focuses on three strategic themes, which are supported by a powerful IFS.ai Copilot that helps users better understand and use data from across a company’s supply chain and operations.

Powering Potential: Humans and Technology in Harmony

The power of IFS Cloud extends beyond human potential to asset potential; assets operate optimally, minimizing downtime and extending lifespans, resource utilization is optimized, and operations streamlined. Key features and capabilities include:

• IFS.ai Copilot: improve decision-making and enhance user experience and engagement through our AI-powered assistant. The first data source target for this release is IFS Cloud help and support information. Boost productivity through timely knowledge and guidance.
• Analytics as a Service: gain accelerated time to value and valuable insights while reducing capital expenditure and operating costs.
• Transport Loading: improve the shipment process, supporting greater capacity utilization, and faster goods loading.
• Task Bundling for Service: increase technician utilization and efficiency and reduce travel costs and emissions while improving service margins.
• Maintenance Planning and Scheduling new Lobbies: improve visibility, drive efficient asset maintenance operations, and drive asset compliance.

Driving Profitability: Winning in a Volatile Landscape

Business success hinges not just on potential, but on measurable profitability. This release equips customers to fine-tune global operations, lower costs, reduce waste, and empower the organization to consider new business models. Key features and capabilities include:

• Supply Chain Customer Scheduling: handle multiple open schedules from the same plant simultaneously, increasing productivity and time savings.
• Advanced SLA Management: increase margins, SLA adherence, and compliance.
• Incomplete & Follow-on Process: service management is enhanced with an intuitive guided technician process for reporting to achieve SLA compliance, avoid penalties, and improve customer satisfaction.
• Business to Business Portal: let contractors record multi-site work, for greater control and visibility while streamlining the communication process between contract and asset owners.

Sustainability as a Competitive Edge

IFS Cloud empowers businesses to not only achieve sustainability goals but also emerge as champions of environmental stewardship, which will resonate with stakeholders from consumers to investors. Optimizing resource utilization, minimizing waste, and tracking environmental impact lets customers reduce their carbon footprint. Key features and capabilities include:

• Emissions Tracker: enhancements to accurately track progress against sustainability through easy emissions data collection. Gain a more complete view with the addition of select Scope 3 emissions categories. Also, input kilowatt consumption data from utility supplier invoices.
• ESG Lobbies: now underpinned by Power BI for easier real-time access to focused insights.
• Support for Circular Manufacturing: enhancements cut production costs by supporting the planning of the remanufacturing process. This enables the introduction of new revenue streams and lower carbon footprint.
• Packing Material Management: enable more sustainable operations by handling unit accessories as inventory increasing the use of reusable packaging.

Christian Pedersen, Chief Product Officer, at IFS commented: “With this latest release of IFS Cloud, customers will benefit from a new level of meaningful AI capabilities and innovation that is truly relevant to their industry and impactful to their business. The IFS.ai Copilot is the natural next step for IFS Cloud users to engage with and benefit from the AI capabilities we have embedded into IFS Cloud. We’re offering so much more than generic AI – our industrial AI approach means customer can effectively manage supply chains and improve their operations. We’re creating an environment where technology and human ingenuity come together.”

Pedersen added: “At a time where regulation in Europe and the US is making companies take action in how they set and manage their Sustainability commitments, we are offering new AI powered capabilities that both help companies improve their operations and report progress. As we look ahead, it’s clear that IFS.ai will continue to be a catalyst for change, driving businesses forward with purpose and passion within the industrial setting. The future is not just bright; it’s AI powered, composable, and cloud-enabled, and it’s here now.”

IFS.ai applied

The new capabilities in 24R1 provide powerful industrial AI functionality, but also packed into the release is new industry-specific tooling. Take for example Aerospace and Defense. New Aircraft Release to Service functionality automatically detects and flags missing mandatory components and overdue maintenance tasks for compliance and risk reduction, and Aircraft Airworthiness Status Insights provides visibility and control of fleet status and aircraft in maintenance to enable aviation operators with additional efficiency and productivity gains. The new release offers similar benefits to customers in other asset and service focused industries.

To find out more about the latest release of IFS Cloud including industry-specific capabilities and enhancements, watch our 24R1 Release Showcase.

About IFS

IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build, and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers - at the Moment of Service™. The industry expertise of our people and of our growing ecosystem, together with a commitment to deliver value at every single step, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of over 6,000 employees every day live our values of agility, trustworthiness, and collaboration in how we support our 6,500+ customers. Learn more about how our enterprise software solutions can help your business today at ifs.com.

IFS Recognition

• IFS ranked #1 for EAM market share in the Gartner® Market Share: All Software Markets, Worldwide, 2023 report for third consecutive year
• Gartner® Peer Insights Customers’ Choice 2023 – Cloud ERP
• IFS named a leader in IDC MarketScape: Worldwide Field Service Management Solutions 2023-2024
• Top 100 Companies (3rd), The Software Report, 2023

Contact information:
EUROPE / MEA / APJ: Adam Gillbe
IFS, Director of Corporate & Executive Communications
Email: press@ifs.com
Phone: +44 7775 114 856

NORTH AMERICA / LATAM: Mairi Morgan
IFS, Director of Corporate & Executive Communications
Email: press@ifs.com
Phone: +44 7918 607 299