What’s new in IFS 22R2 and why is it important to your business in 2023?

Each year, IFS runs two key updates for its cloud customers and the latest IFS 22R2 update is focusing on a few key things.

  • How To Accelerate The Power Of Automation In Your Business in 2023
  • How To Unite A Company Into A Powerhouse Business in 2023
  • Why Environmental, Social & Governance (ESG) Is Key in 2023

How To Accelerate The Power Of Automation In Your Business in 2023

Artificial Intelligence is gaining huge traction across a wide range of industries and it is being used to automate some of the more mundane and time-consuming tasks that take up human time, and therefore incur unnecessary costs.

The latest version of IFS Cloud can support this transition for companies that want to bring efficiencies into their business. Leveraging human capital is one of the best ways for a business to flourish and utilizing the strength of employees, instead of having them focused on non-profit producing activities is vital for companies that wish to flourish in 2023 and the current global economy.

The IFS 22R2 update helps companies do exactly that by:

1. Quickly obtaining data from manufacturing and plant machinery and allowing analysis of data to support decision-making.
2. Reducing manual data entry by using optimal character recognition (OCR) and using the power of machine learning.
3. Improving the process of ordering, delivering, and stocking your production components, thereby reducing redundancy in stock levels.
4. Allowing Aviation and MRO (Manufacturing, Repair, and Overhaul) businesses to create and track hundreds of different maintenance parameters for any piece of equipment.
5. Enhancing light detection and ranging (LIDAR) to support field technicians/engineers/construction project managers in mapping distances by using a mobile device.

How To Unite A Company Into A Powerhouse Business in 2023

Having the ability to unite and bring together different geographical locations, company departments, employees, and assets into a single coherent system that communicates on a global level is what will set some companies apart from their competitors in 2023.

We are sure to see the continued trend in digital transformation and the IFS 22R2 update will aim to facilitate this in 2023, giving companies another competitive advantage to stay one step ahead of their competition.

This global consolidation of resources will allow companies to serve their customers better by:

1. Utilising the power of spot currency exchange by finance teams to reduce costs.
2. Using the power of cross-company employment by making an employee’s skills available for use group-wide instead of with just one company.
3. Enhancing service management, and maintaining SLA compliance by having the most suitable employees working on specific production and manufacturing shift patterns.
4. Allowing the internal service team to reallocate field engineers that are closest to the client and have the pre-requisites skills.
5. Allocating MRO (Manufacturing, Repair and Overhaul) resources in real-time and in line with regulatory and security guidelines. Specifically, key in the aviation sector

Why Environmental, Social & Governance (ESG) Is Key in 2023

The environment, social responsibility, and corporate governance are all topics that are now at the forefront of any business.

Having environmentally friendly paperless business processes and using green energy to literally “power” businesses is one of the long-term targets, especially for European Union-based businesses.
Social responsibility is another key trend that has emerged now we have come out of the pandemic era. Taking care of employees with remote working has become a norm and that presents businesses with both opportunities in reducing operating costs, but on the flip side creates potential issues related to working processes and corporate security. This is aligned with the other key trend in 2023 which will be more transparent corporate governance across a wide range of industries.

The IFS 22R2 update helps companies achieve excellence in these areas:

1. Helping companies to understand the GGP (Greenhouse Gas Protocol) and in turn helping to reduce carbon footprint.
2. Assessing and tracking carbon footprint using data from vehicle usage by field operatives, and power consumption at manufacturing facilities.
3. Tracking and demonstrating transparency and accountability of internal targets set for these key initiatives.

If your business is to thrive in the digital economy, then keeping your internal business systems and processes on the cutting edge is vital to thrive in 2023.