The end of August saw IFS complete its CAN$1 billion acquisition of asset management firm Copperleaf Technologies. When announced in July, the deal was seen as a further step in bolstering IFS’ AI-powered enterprise Asset Investment Planning and Management (“AIPM”) reach. Talking with IFS CEO Mark Moffat on the day of the mega-deal’s completion, ERP Today also learnt of the sustainability strategy as envisioned by the vendor’s C-suite.
Speaking last Thursday, Moffat laid out the acquisition of Copperleaf Technologies as an integral part of the IFS ESG roadmap, as led by the company’s chief sustainability officer, Sophie Graham.
Underlining the decision analytic capabilities of Copperleaf, Moffat drew a through line on how they help customers think through trade-off choices on capital deployment and investment cycles.
“So they can deploy capital into carbon intensive or less carbon intensive in relation to their goals. So Copperleaf is really going to help that ESG agenda,” Moffat told ERP Today.
With IFS a notable vendor in the asset-heavy sector, one notable for carbon emissions, it seems the Copperleaf Technologies addition is one of three tales: a further step in the aggressive global plans from the Swedish-headquartered vendor, an extra string to its industrial AI strategy, and an extra leaf to IFS’ green fingered ambitions.
“We’re really proud of our achievements in sustainability [and] guiding product roadmaps with our research and development organizations, so we’re extending that reach into the customer domain.
“I think that’s a super exciting place for us to be so that we disproportionately influence what’s happening in the market,” Moffat said.
Lowdown on Copperleaf
Copperleaf uses financial data to help clients make informed investment decisions and is also an active participant in global industry standards and sustainability principles by being part of the United Nations Global Compact and the Institute of Asset Management.
The Vancouver-based AIPM firm’s software is responsible for managing up to two trillion dollars of global physical and digital assets, which includes Northern American energy utility giants like ONE Gas, Manitoba Hydro and National Grid.
All business asset and investment data gathered by Copperleaf is stored in a single, collaborative repository – which can be used to create accurate forecasting of asset risks and costs. Copperleaf’s analytics can assess hundreds of thousands of potential investments and rapidly formulate an optimal business plan.
Both IFS and Copperleaf considered the joining of their organizations to be complimentary, with the acquisition adding breadth to IFS’ current software capabilities. With the union of both companies finalized, customers are enabled to use industrial AI-powered software to manage crucial business assets in enhancing the efficiency and effectiveness of their operations.
IFS say the purchase is to add further depth to the firm’s position as a global enterprise application software provider.
