IFS, the global leader in enterprise cloud solutions and industrial AI, has launched its latest innovation, the Sustainability Management Module.
This addition, available in the 24R2 version of IFS Cloud, has been developed in collaboration with PwC to simplify and enhance sustainability data management for businesses.
The introduction of this module is timely, as many large companies in the EU must prepare for compliance with the Corporate Sustainability Reporting Directive (CSRD) by 2025. This directive demands meticulous data management, an area where many organizations currently struggle. The IFS Cloud ensures that all data used for measuring and supporting reporting is accurate and up-to-date, instilling confidence in the businesses that rely on it.
IFS specializes in delivering robust enterprise cloud and AI solutions that empower organizations to manage their operations efficiently and effectively. The new Sustainability Management Module is designed to simplify the complex task of data collection and performance tracking across an organization.
The core functionality of the module aims to streamline the collection of complex data. By providing a single source of organization-wide data, IFS Cloud makes it easier for businesses to achieve accurate sustainability reporting. This module, crafted with insights from PwC’s ESG experts, includes comprehensive, standardized features that ensure compatibility with upcoming directives.
Beyond compliance, the module offers strategic benefits. It enables organizations to set long-term goals, track their performance, and transparently disclose their progress each reporting period. This fosters a culture of sustainability that not only meets regulatory requirements but also enhances business value by optimizing resources and reducing waste.
Additional features of the module include a centralized location for sustainability-related data, an extensive KPI catalog with ready-to-use CSRD metrics, and the ability to create customized sustainability plans linked to specific KPIs. This comprehensive approach ensures that sustainability initiatives are seamlessly integrated into the broader business strategy, helping organizations meet stakeholder expectations and achieve long-term objectives.
Sophie Graham, Chief Sustainability Officer at IFS, emphasizes the module’s role in integrating environmental stewardship into core business practices. She highlights the module’s ability to support growing regulations and provide a competitive edge through reliable data and simplified processes.
Iain Anderson, ESG Technology & Data Leader at PwC UK, also comments on the collaboration: “Through our collaboration with IFS and their Sustainability Management Module in IFS Cloud, we leverage our PwC ESG expertise and regulatory knowledge to provide valuable guidance, insights, and support. This enables organizations to effectively deliver their corporate sustainability objectives, and navigate the evolving regulatory landscape.”
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