Combined CollABorative October 2024 - IFS UNLEASHED Highlights and Reflections

IFS Combined CollABorative: Tech Talk – IFS UNLEASHED Highlights and Reflections

Date of Meeting: 29 October 2024 10:00 AM US Eastern Time

Jessica Foon Presentation:

Introduction:

• Welcome to the IFS Unleashed, highlights and reflections CollABorative. For those who don't know me, my name is Jessica Foon. I am a Customer Engagement Operations Analyst. Prior to this I was an Astea Consultant and FSM Consultant and now my job is to organise these CollABoratives and be the touch point for our customer’s feedback. We work closely with Voice of the Customer to collate feedback, identify themes, assign feedback to our various IFS Departments and close that feedback look.
• And because we have so many new people on the call, I will quickly just explain what the CollABoratives are. Think of it as a Customer Advisory Board + Peer Community Group. We hold monthly virtual 1-hour sessions for 3 groups: Service, Digitalization and Assets. Sarah Nicastro moderates the Service and Digitalization CollABorative. You may know her from the Future of field service work she has done. And Jon Mortensen (Global CTO EAM) moderates the Assets CollABorative. These sessions are split between Think tank sessions and Tech Talk Sessions. Think Tank sessions are to discuss areas of innovation, business trends & challenges. Some examples of these are Human Centricity – Trends in Recruiting, Hiring & Retention and The Role of Safety & Permitting in Asset Management. And then the Tech Talk sessions are to discuss all things IFS. Some examples of these are Stephen Jeffs-Watts speak around R&D in Service, Raymond Jones - Unified Support. This is also a Tech Talk session as we are discussing all things IFS. No session is mandatory - There is no commitment or obligation, and customers can pick and choose which sessions they want to attend.

Slide: Agenda

• So, I would just like to let you know the stuff I will be presenting today. Firstly, I will summarize some points from Mark's Keynote. Then will go into the Copperleaf Accelerate Program. Then I will dive into some new features about IFS Cloud 24R2. Then I will talk a bit about the new Sustainability Management Module. And lastly I will dive into the partnership IFS has with Sovos for some new tax compliance functionality
• Then at the end of the session we would love to do some feedback and Q&A. For those who did attend Unleashed, I would love your feedback and I am sure others on the call would love to hear your experience too.

Slide: Mark Moffat’s Keynote

• Day 1 kicked off with our new CEO Mark Moffat who replaced Darren Roos earlier this year. And Mark started this initiative which was to meet 100 customers in 100 days, which he succeeded in, but was very logistically challenging. The one clear message from his initiative was the need to be close to you (the customer). To be strategic. To be responsive and fundamentally to be tuned into your needs.  And quite a few customers also said, as IFS grows and scales, don't become one of those other bloated lazy and out of touch software companies. And that is something Mark takes to heart and says will never be IFS.
• He also talked a lot about the importance of listening, learning and understanding. You know, like what are the things that make us so successful. The power of understanding your market, understanding the industry dynamic, listening to customers, what are they telling us, where are we successful, what do we need to do better, we don't always get it right and it's so important we listen to those moments as well as the moments where we know that we're doing great things.  And that meet 100 customers in 100 days and the IFS CollABoratives, the Voice of the Customer Program at IFS is exactly all about that importance of listening, learning and understanding your feedback and then trying to action that feedback which is also important. 
• Another big topic mark talks about is the industrial AI revolution. And to elaborate to you all, industrial AI is IFS.ai which I hope all of you have heard about already. We have had Steven Jeffs-Watts and Bob De Caux speak about IFS.ai in their previous sessions but we also have a couple of other sessions on AI coming up next month. Firstly, we have a webinar on IFS.ai: Powering the Industrial AI Revolution - Key Takeaways from IFS Unleashed which takes place on 14th November at 09:00 AM GMT. You can go to the link in this presentation to register. I will send you this presentation after the session.
• Then we also have Bob De Caux coming to speak in our CollABoratives next month on the 19th November at 15:00 GMT / 10:00 AM EST to talk about how IFS is innovating with AI, so I won't go into a lot of detail today, but a typical IFS industrial AI application surface would encompass six key “types” of AI: content generation; recommendations; optimizations; contextual knowledge; forecasting & simulation; and anomaly detection.
• But it's all about creating a world class leading industrial AI platform that empowers you (our customers) globally, to dynamically manage your mission critical assets, workflows, people and service in a responsible way.  So, you can learn more if you attend any of these sessions next month.
• Marks also talks about being Responsible. And that responsibility comes in 2 key ways. One, how are we going to protect, manage and secure the all important customer data and two, how we drive sustainability outcomes from industrial AI. We have a new sustainability module which will help you track KPI's and manage sustainability outcomes, which I will talk a little bit more about that later.
• And then Mark talked about our new Vision for IFS. And that vision is to become the undisputed category leader in industrial software. The number one brand!

Slide: Gartner Peer Insights and Acquisitions

• And I think this is starting to show in the Gartner Peer Insights.  And for those who don't know what that is, Gartner Peer Insights is a collection of independent feedback from customers and from end users who assess IFS. And as you can see, we are currently sitting at the top of every single category in which we operate, however we must not become complacent or take anything for granted which is why we read every single review to ensure this doesn't happen.
• We have also been able to bring such amazing new capability into IFS through acquisitions over many years.
• IFS Assyst is IT Service Management (ITSM), IT Operations Management (ITOM) and Enterprise Service Management capability, all in one product
• IFS Ultimo is Enterprise Asset Management (EAM) Software and combines a fully integrated (Environment, Health and Safety) EHS and Operations suite with out-of-the-box industry-specific solutions. Built for manufacturing, logistics, and healthcare, the solution specializes in managing technical, fleet, and medical assets.
• Poka is a connected worker platform built specifically for manufacturers. They enable factory and field workers to be more efficient across all aspects of their jobs, from training and development to troubleshooting. It enables businesses to measure productivity across machinery and operators globally and also provides actionable insights for companies to stay compliant and provide safer working conditions as part of their ESG goals.
• IFS Bolo is the next-generation oil and gas accounting solution that possesses the most processing power in the industry to handle any business scenario. IFS Bolo is built on the IFS Cloud and the latest release delivers several key improvements such as Modern Usability. A completely refreshed user interface (UI) that’s both familiar and intuitive, minimizing learning time. Enhanced Security. Multi-layered security that includes features at the code, networking, and data levels for unmatched protection.  Open Data Access. Integration with Microsoft Power BI to unlock unlimited data analysis. It has also added a new AP invoicing module powered by IFS.ai that helps automate the procure-to-pay cycle.
• IFS Tobin is a high-quality information solution, powered by IFS Tobin, to support critical decision making in the energy and resources markets
• IFS Merrick is an end-to-end production solution that helps oil and gas companies monitor and improve production operations and results through the effective collection, accounting, and reporting of accurate and validated production data.
• During this year we acquired Empower MX which is a leader in aviation maintenance and bought in customers such as Delta and American Airlines. Together, EmpowerMX and IFS will provide aerospace & defense customers with the most comprehensive and capable maintenance management system that can support multiple users in multiple roles, as well as provide well-documented, paperless governance in the form of electronic task cards and logbooks.
• And most recently we acquired Copperleaf Technologies which is a leader in Asset Investment Planning (AIP). It’s essentially an optimization software that allows you to make smarter capital investment decisions from massive investments like a new airport terminal to smaller investments like breaker replacements. It's about making the right investment at the right time throughout all levels of your organisation. And with the world being so complicated now, change is accelerating, it is even harder to make smarter investment decisions. So, this optimization software takes quantified investment options, and it determines how to allocate limited funding and scarce resources, and also takes into account constraints, targets and use the data to make informed decisions. It ultimately helps you make faster, more intelligent, trustworthy decisions, such as when to invest in your businesses to maximize capital efficiency, meet performance targets, manage risk, and achieve your ESG goals and strategic goals. 

Slide: Copperleaf Accelerate Program

• IFS has just launched the Copperleaf Accelerate Program. This is an annual subscription that offers IFS customers comprehensive benefits and helps your organization quickly and efficiently implement Asset Investment Planning with IFS Cloud. The Program provides preconfigured capabilities and connectors to ensure you can get value faster. Some key benefits of the Accelerate Program are you will receive expert support to optimize your value framework. SDK Access for System Integration to integrate your software systems seamlessly with software development kit access. Full Access to Copperleaf value model library. This library leverages knowledge Copperleaf has gained from working with clients from different industries across the globe. It is a constantly evolving collection of best practice models that helps new customers get up and running quickly with AIP (Asset Investment Planning). You get to participate in quarterly business reviews to ensure continuous improvement and alignment. You get advanced support for scoping your projects effectively. Change Management Program. You get the benefit from a structured change management program to facilitate smooth transitions. And private Copperleaf user group access, so you gain exclusive insights, networking opportunities, and share best practices with fellow industry experts.
• There are also some key benefits for customers such as Pre-Packaged Solutions. That’s pre-configured out-of-the-box models and tools to simplify and accelerate implementation. Enhanced ROI to maximize your return on investment by quickly enabling advanced asset investment planning capabilities. Comprehensive Support which includes ongoing support, training, and resources from a dedicated team to ensure successful implementation and operation. And rapid Implementation which is fast-tracking the deployment of AIP solutions by leveraging existing data in IFS Cloud.

Slide: Release of IFS Cloud 24R2

• Some of the new highlights in the IFS Cloud 24R2 release is as follows.
• Home is a new, dynamic, AI-powered homepage in IFS Cloud. This provides live project status visibility. It can automatically detect anomalies, and suggest corrective actions, which will save you time and increasing accuracy of project analysis. This AI powered homepage combines the new context aware IFS.ai Copilot uses cases with a growing ecosystem of interactive widgets that help users plan, manage, build and service assets faster, smarter and safer.
• IFS.ai Copilot now goes even deeper than ever, surfacing insights from across the organization. The context aware Copilot has preconfigured industries capabilities, and on top of that when you integrate your customer data sources, it knows where users are in IFS Cloud and provides accurate insights related to it. For example, in parts of the immersive session they did at IFS Unleashed, They used IFS.ai Copilot to ask what suppliers they have used in the past, and to rank those suppliers based on certain requirements such as delivery performance, quality and sustainability KPI's. Generate a full job description to hire a technician based on a short job summary, and if you wanted to add some key words, you can add that and hit regenerate. Get service history for a technician of an object to be repaired. Generate a polite email for a payment reminder, whilst in the customer screen so IFS Cloud knew all the details such as the name, amount due, due date, etc.
• So there is many functions of IFS.ai copilot, including within the Asset Applications module, the new IFS.ai Copilot for FMECA (Failure Modes, Effects, Criticality Analysis). This feature drives optimized asset availability, while reducing maintenance costs and mitigating risks.  It provides detailed analysis of how an asset might fail, the probability, and consequences of making or adjusting maintenance strategies. AI supports FMECA by unlocking insights from unstructured information such as manuals and maintenance reports to support and refine the analysis.
• And because IFS.ai can take unstructured data from, for example, a new manufacturing customer PO and auto create a new order so the production process can be accelerated. The impact of this new order onto the shop floor can then be modelled and analyzed with the new Manufacturing Scheduling Optimization (MSO) Simulation capability. This enables production managers to improve capacity planning and meet customer demand. Meanwhile, asset managers can use the Simulation capabilities to more accurately predict, and plan essential asset maintenance based on different scenarios.
• New Prompt Libraries help users accelerate the adoption of Copilot and empowers the user to take the lead with AI by storing contextually relevant prompts, eliminating repetition and boosting productivity.
• IFS also added 60 new Industrial AI capabilities for manufacturing, service management, asset performance management, and new sustainability management modules which I will talk about next. I am not going to go through all of those as it will take forever, but once I send this presentation to you all, you can click on the link and you will be able to see what some of those use cases are.

Slide: New Sustainability Management Module in Partnership with PwC

• A new Sustainability Management Module is available in IFS Cloud 24R2 as part of a collaboration with PwC and their ESG experts to ensure features are comprehensive, standardized. IFS Cloud customers will also have the option to use PwC’s expert ESG advisory services, including entity scoping, double materiality assessments, gap assessments, and implementation planning to support compliance with the CSRD (Corporate Sustainability Reporting Directive) and with the implementation of your sustainability reporting strategy. This module also includes new features which have been developed to help customers simplify and efficiently manage sustainability data collection and performance tracking across the organization.
• Key Features of IFS Cloud Sustainability Management Module is that it is now in one central location for sustainability related data across organizational entities so it makes it easy to find and report on. It has an extensive KPI catalog which facilitates the comprehensive management of sustainability KPIs. The KPI Catalog ensures that you can track relevant sustainability metrics consistently and accurately. There are “out of the box” CSRD (Corporate Sustainability Reporting Directive) metrics where you can easily select those most relevant to your business and operations. “Create your own” is also available. You have the ability to set long-term organizational goals and track performance to ensures sustainability initiatives are fully integrated into the organization’s overall business strategy. It allows you to create sustainability plans with targets linked to your agreed KPIs, and it will transparently disclose progress and outcomes for each reporting period.
• Furthermore, the module streamlines the management of sustainability data and goals, offering a comprehensive solution that ensures sustainability initiatives are fully integrated into the organization’s overall business strategy. This integration will help you meet regulatory requirements, respond to stakeholder expectations, and achieve long-term sustainability objectives effectively.

Slide: IFS Partners with Sovos for Tax Compliance Functionality

• IFS Partners with Sovos for tax compliance functionality. Sovos, provides powerful tax compliance software which enables businesses to identify, determine, and report on every tax obligation across the globe. We are integrating Sovos’s tax and compliance software with Industrial AI-powered IFS Cloud which will provide you with the ability to automate tax compliance with rules from over 20,000 tax jurisdictions. This will help customers who operating globally avoid penalties from late fees, provide continuous transaction control, avoid reputational damage from non-compliance, and maintain always-on compliance wherever you operate. It also helps prevent business disruption from cross border transfer of goods being delayed and supports cash flow planning.

Slide: Useful Links

• I also have a few links for you. The first is https://www.ifsunleashed.com/live-stream/ where you can go and watch some of the sessions. If you already attended Unleashed, you would already have access to these plus more through the consensus demo board. But if you didn't attend, you can watch some of the sessions, however you will need to register your interest first by entering your name, email, phone etc when you click to watch the video. Some of the sessions you can watch on ifsunleashed.com is Mark's Keynote. The IFS.ai: Powering the Industrial AI Revolution. That’s an immersive session with demos of AI, machine learning, automation solving challenges in IFS Cloud. I eluded to that when I was talking about the 24R2 new release so you get to see what IFS Home looks like, Copilot, etc. Peter Weill's keynote about Unlocking Strategic Value: What’s Next? Real-Time Businesses Use Curated Data to Outperform. As well as a keynote with Chairman Darren Roos interviewing a special guest, Gary Player who is a professional golfer who shared his inspiring journey and lessons learned. And some customer journeys such as IFS.ai in Action with Lockheed Martin and IFS.ai in Action: Transforming BAE systems with AI. And many more.
• The next link is to Usain Bolts keynote which is in the form of a Podcast as it was hosted by Jake Humphrey and Damian Hughes of the High Performance Podcast. And he talks about his inspiring journey on how he overcame failure to become the world's fastest man.
• I also have also put in a link here if you are interested in IFS Unleashed and future events, you can fill out your interest here.
• And I wanted to highlight Sarah's work she did for the Future of Field Service and the Stand Out 50 awards. So you can click on the link to find out the winners.

Slide: Highlights Video

• And then I thought I would share a highlights video of the event. It looked Amazing! The event was held at Orlando World Center Marriott. So, here it is.

Next Meeting: 19 November 2024 10:00 AM US Eastern Time
IFS Combined CollABorative: Tech Talk with Bob De Caux, Chief AI Officer 

If you are an IFS Customer and you do not have the next meeting invitation to this CollABorative and would like to join, please click here to fill out the form.