IFS 2024 Unleashed: 7 Takeaways Demonstrating IFS’s Commitment to Transformation in Manufacturing, Energy, and More - Aberdeen Strategy & Research IFS 2024 Unleashed Conference Highlights (original) (raw)

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IFS 2024 Unleashed: 7 Takeaways Demonstrating IFS’s Commitment to Transformation in Manufacturing, Energy, and More

Highlights from IFS’s annual 3-day event in Orlando, where innovation and customer-focused solutions took center stage for EAM, ERP, and service

For leaders in industrial sectors such as manufacturing, energy, aerospace, and telecommunications, IFS’s 2024 Unleashed Conference was a whirlwind of inspiring keynotes, information-packed breakout sessions, productive networking, and good old-fashioned adrenaline. From the highs of riding the Velocicoaster at Universal to the lows of hearing about how IFS customers have supported Florida communities through the horrors of Hurricane Milton, the event delivered a full spectrum of experiences and emotions.

As I said in my summary video last week, my biggest overall impression is that, while IFS may be behind the curve in rolling out AI capabilities within their solutions, they are taking the time to do it the right way. They are focusing on high-value, industry-specific use cases that will actually make a difference for their customers, and they are teaming up with the right partners, like Microsoft and boomi, to make AI a reality for their customers.

Below are my top seven key takeaways from the conference and how IFS will continue to support their customers through their digital transformation journeys.

1. The industry-specific focus revealed actionable steps for modernization.

IFS’s breakout sessions focused on the industrial-heavy sectors they serve, including manufacturing, energy, aerospace & defense, construction, service, and telecommunications. These specialized conversations provided actionable steps for addressing industry-specific challenges. IFS’s customer roadmap allowed industry professionals to see themselves in IFS’s vision, gaining valuable insights for overcoming their unique challenges. For example, in manufacturing, IFS’s sessions emphasized ways to streamline production with real-time insights, while in the energy sector, sessions discussed strategies to enhance regulatory compliance through robust asset management solutions. This targeted approach resonates strongly with professionals looking for tailored solutions to modernize operations efficiently.

2. The acquisition of Copperleaf demonstrates IFS’s dedication to supporting end-to-end asset management for their customers.

Earlier this year, IFS announced their acquisition of Copperleaf, a leading enterprise asset management (EAM) and investment planning platform, and at the conference, leadership expanded on their plans for integrating Copperleaf into their portfolio. While EAM is not my area of expertise, I found it fascinating to see how this acquisition could provide industries like energy and defense with tools to not only manage existing assets but strategically priorize and prepare for future investments. This capability is especially beneficial for industries with high-value assets that require meticulous oversight.

3. IFS is leveraging Microsoft Copilot to stay on the cutting-edge of AI without heavy R&D investments.

In the opening keynote, Microsoft CEO Satya Nadella spoke about how, together, Microsoft and IFS aim to streamline the flow of knowledge between people and machines. By partnering with Microsoft, IFS can adopt the latest AI capabilities—saving time and resources—while remaining focused on customers in manufacturing, aerospace, and other industrial sectors. While IFS may be behind competitors like SAP for embedding AI capabilities into their solutions, they now have the backbone to surge ahead. Their three-layered approach to AI (Orchestration & Governance, AI services, and Data Services) promises to support industry-specific AI applications to help their customers build a strong foundation for their AI strategies.

4. Cloud migration remains a challenge, impacting IFS customers’ access to full solution capabilities.

IFS’s cloud platform launched in 2021, but many of their customers—especially in the public sector and oil & gas—are still on-premises. Key barriers to IFS Cloud adoption include customer misperceptions around compliance, security, and data accuracy. Since many of IFS’s new AI capabilities are cloud-based, industries still operating on-premises may face limitations. Addressing these concerns and strengthening trust will be crucial as IFS supports customers in their cloud migration journeys, especially with deadlines for transitioning to subscription licensing looming.

5. IFS is driving results for customers looking to operate in real-time.

On day two, MIT’s Dr. Peter Weill highlighted the importance of becoming a real-time business. His session offered IFS customers the chance to participate in MIT’s real-time business research, directly gaining insights to enhance areas like supply chain efficiency and asset uptime. I fully agree with Dr. Weill’s statement that “the future is already here, it’s just not evenly distributed.” IFS is in a perfect position to expand access to modern capabilities for industrial leaders, but trust—both in data accuracy and in frontline workers to leverage that data—will be pivotal in achieving real-time operations.

6. The connected worker model expands IFS’s learning and development (L&D) and service capabilities.

Aberdeen’s research shows that 83% of leaders from organizations in the industrial sector say hiring skilled talent over the past year has been difficult, compared to only 67% of those in other fields. IFS customers revealed that now more than ever, factory employees want more out of their work environments. They are looking for clear growth paths, cool technology, and self-service data platforms, and IFS is helping their customers provide these experiences. The acquisition of Poka supports L&D initiatives for frontline workers, while AI-powered service features help technicians boost efficiency and effectiveness. This is particularly valuable for companies where tech-driven upskilling can yield immediate productivity gains and long-term cost savings.

7. Embracing innovation without limits—Usain Bolt’s advice to attendees

Usain Bolt’s live interview on the High Performance podcast perfectly tied together the themes IFS had curated for this year’s Unleashed conference. His story of not thinking with limits resonated strongly with me and with the audience of customers and partners. There is no limit to what you can do with the right data and insights at your fingertips, and industrial AI has unlimited potential. Bolt’s message encourages leaders to invest boldly in tools like AI and explore new business models that can redefine their industries, from manufacturing to A&D.

I’m walking away from IFS’s 2024 Unleashed Conference with a better understanding of the company’s commitment to innovation and customer-centric solutions. Each takeaway highlights specific benefits for industry professionals—from the targeted modernization strategies for different sectors to the strength of IFS’s partnerships in advancing AI and end-to-end ERP. As IFS navigates the complexities of cloud migration and the evolving needs of connected workers, it remains dedicated to empowering its customers in their digital transformation journeys. The event wasn’t just about technology; it was about breaking boundaries and inspiring limitless potential for industrial leaders to redefine success with IFS solutions.

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Sarah is the Manager of Aberdeen’s Research and Data Operations team. In addition to overseeing Aberdeen’s survey and content creation processes, she conducts research focused on the intersection of manufacturing and emerging technologies as well as the data systems companies have in place to streamline operations and make informed decisions. Sarah holds a bachelor’s degree in Mathematics with a concentration in Statistics from Colby College.