This feature, which can be found in IFS Cloud version 24R2, was created in partnership with PwC to improve and streamline sustainability data management for companies.

The Corporate Sustainability Reporting Directive (CSRD) will require many big EU corporations to prepare for compliance by 2025, making the release of this module opportune. This requirement requires careful data management, which is a challenge that many enterprises are now facing. Businesses that rely on the IFS Cloud may feel confident knowing that all data utilized for measurement and supporting reporting is correct and current.

IFS focuses in providing enterprise cloud and artificial intelligence (AI) solutions that enable businesses to run their operations successfully and efficiently. The new Sustainability Management Module is intended to make tracking performance throughout a business easier, especially when it comes to data collecting.

The primary objective of the module's functionality is to optimize the process of gathering intricate data. IFS Cloud makes accurate sustainability reporting easier for enterprises by offering a single source of data for the whole organization. This module has extensive, standardized features that guarantee compliance with future requirements. It was developed using insights from PwC's ESG specialists.

The module offers strategic benefits beyond compliance. Setting long-term objectives, monitoring performance, and openly sharing advancements every reporting period are all made possible by it for enterprises. By maximizing resources and cutting waste, this promotes a sustainable culture that not only satisfies legal requirements but also increases economic value.

The module also has the capacity to construct bespoke sustainability plans associated with certain KPIs, a comprehensive KPI library with ready-to-use CSRD indicators, and a centralized destination for data relevant to sustainability. By using a holistic approach, companies may fulfill stakeholder expectations and accomplish long-term goals by ensuring that sustainability activities are easily incorporated into the larger company plan.

IFS Chief Sustainability Officer Sophie Graham highlights how the module helps incorporate environmental stewardship into fundamental company operations. She draws attention to the module's capacity to accommodate expanding rules and offer a competitive edge by means of dependable data and streamlined procedures.

Regarding the partnership, Iain Anderson, ESG Technology & Data Leader at PwC UK, adds, "We leverage our PwC ESG expertise and regulatory knowledge to provide valuable guidance, insights, and support through our collaboration with IFS and their Sustainability Management Module in IFS Cloud." This makes it possible for businesses to successfully accomplish their goals for corporate sustainability and deal with the constantly changing regulatory environment.