IFS, specialist in business solutions, presents the launch of it’s new Sustainability management module in version 24R2 of IFS Cloud, developed in collaboration with PwC. This powerful module incorporates innovative features designed to make it easier for customers Sustainability data collection and performance monitoring across the association efficiently.*
In this direction, entities operating in the EU will have to comply with the CSRD starting from 2025, which requires urgent preparatory actions. A critical aspect that limits organizations is data management.IFS Cloud ensures that all data used to measure and support reporting is accurate and up-to-date.
Designed to be easy to use,the Sustainability Management Module simplifies the collection of complex data,with IFS Cloud providing a single source of organizational-level data essential for accurate reporting. The Sustainability Management Module was developed in collaboration with PwC’s ESG experts, ensuring that its functionality is extensive, standardized and compatible with future directives.
“Additionally, clients will be able to access PwC’s ESG advisory services, including entity delineation, dual materiality assessments, gap analysis and implementation planning, to facilitate CSRD compliance and execution of their sustainability reporting strategy.” explains Gonzalo valle, pre-sales manager at IFS.
The module offers key features that facilitate the efficient management of sustainability in organizations. It provides a single central point for all sustainability-related data and an extensive KPI catalog with “ready-to-use” CSRD metrics, allowing users to easily select the ones most relevant to their business. Furthermore, it allows you to set long-term objectives, monitor performance, create sustainability plans in line with agreed KPIs and transparently disclose progress and results in each reporting period.
“Business success goes beyond profit margins, advancing alongside the drive for environmental stewardship for lasting impact. We are proudly at the forefront of integrating environmentally friendly practices into core operations, helping to support increasing regulations while providing customers with a competitive advantage.” explains Sophie Graham, Director of Sustainability at IFS.
For his part, Iain Anderson, ESG Data and Technology Leader at PwC UK, assures that: “Accurate ESG data is critical to enabling organizations to monitor their progress, improve and comply with regulations. Reliable data also helps you make informed decisions,be transparent and build trust. Through this collaboration we use our ESG expertise to offer guidance and support that enables companies to achieve their sustainability goals and adapt to the evolving regulatory environment.”.
*Note: When “PwC” is mentioned in this press release, we are referring specifically to the collaboration between IFS and pwc UK, the UK member firm, part of the PwC network. Each member company is a separate legal entity.
Source: IFS
How can technology enhance corporate sustainability efforts?
Interview Between time.news Editor and IFS Sustainability Expert
Time.news Editor: Welcome to Time.news! Today we have an exciting discussion lined up with a leading expert from IFS, the company behind innovative business solutions. recently, IFS launched its new sustainability Management Module, and we’re eager to learn more about it. Thank you for joining us today!
IFS Sustainability Expert: thank you for having me! I’m excited to share insights about our new module and how it aims to drive sustainability across businesses.
Time.news Editor: To kick things off,could you explain what the Sustainability Management Module is and its meaning in today’s business landscape?
IFS Sustainability Expert: Absolutely! The Sustainability Management Module is designed to help organizations effectively track,manage,and report their environmental,social,and governance (ESG) performance. With rising global awareness around climate change and social duty, businesses are under increasing pressure to prove their sustainability efforts. Our module provides the tools to integrate sustainability into core business processes, enabling them to make informed decisions that benefit the planet and their bottom line.
Time.news Editor: That sounds impactful. what are some key features of the module that you believe set it apart from similar offerings in the market?
IFS Sustainability Expert: One standout feature is its ability to provide real-time data analytics. This allows businesses to monitor their sustainability metrics continuously, rather than just during periodic assessments. Additionally, it integrates seamlessly with existing business systems to ensure that sustainability practices are woven into the fabric of daily operations. Organizations can also customize reports to meet the specific needs of stakeholders, enhancing clarity and accountability.
Time.news Editor: It truly seems like a game-changer for many companies. How do you see the role of technology evolving in the context of sustainability and corporate responsibility?
IFS Sustainability Expert: Technology will be a vital driver in the transition towards a more enduring future. It allows for better data collection, analysis, and reporting, enabling businesses to identify areas for enhancement. AI and machine learning can also optimize resource usage and reduce waste. I believe we will continue to see businesses leveraging technology not just to comply with regulations, but also to innovate their sustainability practices and create long-term value.
Time.news Editor: Important points! As more companies place sustainability at the forefront of their business strategies, what advice would you give them to ensure a successful implementation of sustainability initiatives?
IFS Sustainability Expert: My key advice is to start small but think big. Identify achievable short-term goals that can build momentum, while aligning them with long-term sustainability aspirations. Engage stakeholders at every level to foster a culture of sustainability within the institution. Also, embrace technology as a partner—utilize tools that provide complete insights and drive accountability.
Time.news Editor: Wise words! With increasing scrutiny over corporate practices, what role does transparency play in effective sustainability management?
IFS Sustainability Expert: Transparency is crucial. It not only builds trust with consumers but also encourages accountability within the organization. By openly sharing sustainability goals and progress, companies can forge stronger relationships with their stakeholders.It demonstrates commitment to sustainability and helps attract eco-conscious customers and investors.
Time.news Editor: Thank you for those insights.what does IFS envision for the future of sustainability in business beyond this module?
IFS Sustainability Expert: IFS envisions a future were sustainability is a basic part of business strategies rather than an afterthought. We believe that organizations will increasingly collaborate to address global challenges,integrate circular economy principles,and advance ethical business practices. Our goal is to empower businesses to lead the charge toward a sustainable future, and with our Sustainability Management Module, we’re taking notable strides in that direction.
Time.news Editor: That’s an inspiring vision! Thank you for joining us today and sharing your expertise on these critical topics. We look forward to seeing how IFS contributes to sustainable business practices in the future.
IFS Sustainability Expert: Thank you! I appreciate the opportunity to discuss these important developments and look forward to a greener future together.
Time.news Editor: And thank you to our audience for tuning in. Stay informed with Time.news and follow us for more insights into the landscapes shaping our world today.
