Enterprise software provider IFS and professional services giant PwC UK have jointly introduced a new Sustainability Management Module integrated into the IFS Cloud platform, designed to streamline corporate compliance with rigorous sustainability reporting standards, including the EU’s Corporate Sustainability Reporting Directive (CSRD).
The announcement comes on the heels of a strategic partnership between IFS and PwC earlier this year, with IFS leading on software development and PwC providing expertise in environmental, social, and governance (ESG) compliance, as well as regulatory design input. This solution seeks to address the growing pressure on companies to disclose accurate and comprehensive sustainability data, as regulatory requirements tighten across the EU.
At the core of the new module is the goal to simplify sustainability data management and performance tracking, drawing on IFS Cloud’s ability to centralize organization-wide data into a single, reliable platform. Key features include a robust “KPI catalog,” equipped with pre-defined CSRD metrics, allowing businesses to select and implement the most relevant measures tailored to their operations.
Other tools within the module empower companies to set long-term sustainability objectives, track their progress, and create sustainability plans anchored to customized KPIs. This is intended to aid firms in disclosing progress transparently, meeting periodic reporting needs, and ensuring alignment with their sustainability targets.
Sophie Graham, Chief Sustainability Officer at IFS, underscored the module’s potential impact, stating, “We are proudly leading the charge in embedding environmentally conscious practices into core operations by helping to support growing regulations while also providing customers with a competitive edge. This is only achievable if enterprises have full confidence in their data source and if the process is demystified. The introduction of the Sustainability Management Module enables our customers to make a huge leap towards achieving their sustainability goals and see value quickly.”
A unique aspect of this partnership is the option for IFS Cloud clients to leverage PwC’s ESG advisory services, encompassing critical areas such as entity scoping, double materiality assessments, gap analyses, and implementation planning. These services are structured to ensure robust CSRD compliance and support clients in navigating the complexities of modern sustainability reporting requirements.
PwC UK’s ESG Technology & Data Leader, Iain Anderson, emphasized the importance of high-quality ESG data for organizational transparency and strategic decision-making. “Accurate and comprehensive ESG data is essential for organizations to monitor progress, identify improvement opportunities, and comply with regulations. Reliable data also enables businesses to make informed decisions, be transparent with stakeholders, and build trust. Through our collaboration with IFS and their Sustainability Management Module in IFS Cloud, we leverage our PwC ESG expertise and regulatory knowledge to provide valuable guidance, insights and support. This enables organisations to effectively deliver their corporate sustainability objectives, and navigate the evolving regulatory landscape.”
This IFS and PwC collaboration marks a significant development in sustainability reporting, offering companies an integrated, data-driven approach to meet the demands of an increasingly complex regulatory environment and to advance their ESG commitments.
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