Cloud nine: Unleashing economic benefits in the digital sky

In today’s digital world, businesses face constant pressure to meet ever-changing customer needs. To stay competitive, organizations must adopt a more agile and forward-thinking approach to technology, one that prioritizes innovation, reduces risks and avoids the burden of technical debt.

What is technical debt?

Technical debt refers to the hidden cost of deferring system improvements or ignoring long-term challenges, ultimately hindering future growth. While it may seem manageable at first, technical debt compounds over time, creating friction that can derail your business by slowing:

• Adaptability: The ability to evolve and respond to market changes.
• Cost efficiency: The capacity to optimize operational costs.
• Innovation: The speed and frequency of introducing new solutions.

The business case for a proactive transformation

For many organizations, while the business has changed, systems have remained stagnant, building up technological debt that must be overcome to achieve future success.

To remain relevant, organizations must embrace modern solutions like cloud-based infrastructure that enable them to:

• Enhance customer experiences
• Transition to outcome-based business models
• Integrate data, automation and artificial intelligence (AI) seamlessly

The hidden cost of inaction

Neglecting to address technical debt can lead to "drift”, managing technology as a static expense rather than looking at it as a continued source of value. The risks include:

• Inability to address emerging customer needs
• Difficulty in delivering exceptional customer experiences
• Eroding market share and relevance
• Unpredictable revenue streams and weakened customer loyalty

Organizations that fail to adapt risk falling behind competitors who are embracing modern, cloud-driven solutions.

The advantages of IFS Cloud

IFS Cloud offers a comprehensive, evergreen solution that enables businesses to innovate rapidly, achieve cost savings and realize faster time to value. By regularly adopting updates, organizations can stay ahead of the curve with continuous access to cutting-edge innovations.

Key benefits include:

• Labor efficiency: Automation drives a 6% increase in productivity
• Inventory optimization: Inventory carrying costs reduced by 20%
• Reporting simplification: Reporting efforts cut by 80%

(Forrester Consulting, 2023)

Time-to-value excellence

With IFS Cloud, businesses can go live within just six months, thanks to pre-configured templates that streamline implementation and customization. This fast-tracked approach minimizes disruption and maximizes return-on-investment (ROI).

The Total Economic Impact™ of IFS solutions in the Cloud

A Forrester study revealed significant financial benefits over a three-year period, based on interviews with six IFS customers.

Summary of benefits:

• Labor efficiencies: $18.5 million reallocated to growth initiatives
• Capital cost savings: $12.3 million saved
• Reporting and uptime improvements: $4.3 million in efficiencies
• Legacy system decommissioning: $1.5 million saved

Sustainability and innovation

• Reduced inventory carrying costs by 20%
• Eliminated 2,800+ hours of reporting efforts

Why IFS Cloud?

By adopting IFS Cloud, your organization can eliminate technical debt, achieve cost savings and gain the agility needed to thrive in today’s competitive landscape. The Cloud empowers businesses to deliver exceptional customer experiences, boost efficiency and drive long-term growth.

How we can help

Baker Tilly tailors IFS Cloud solutions to meet your unique business needs, helping you unlock measurable improvements.

By leveraging seamless integrations and ongoing innovation, we enable organizations to boost operational efficiency and drive long-term growth. Connect with us to help your organization achieve transformation and measurable success with IFS Cloud.