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IFS: Utilities globally prioritize AI to drive digital transformation, but lack of collaboration a key factor preventing 80% from completing journey

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Organized data holds the key to successfully adopting AI while improved asset management emerges among top drivers of transformation

LONDON, July 9, 2024 /PRNewswire/ — AI is at the forefront of digital transformation in the utilities sector, with 82% of executives recognizing it as essential to their strategy. However, despite widespread recognition of the importance of emerging technologies, only a fifth (20%) of companies have completed their digital transformation journey, with respondents split on where ownership should lie (22% reference CFO, while the same percentage cite the CTO).

That’s according to new research by IFS, the leading technology innovator in cloud and Industrial AI software, which polled 863 C-level executives and VPs from utilities companies around the world (UK, US, France, the Nordics, the Middle East, and Australia).

While 84% of organizations recognise data analytics as important to their digital transformation approach, the research highlights the complexity and challenges inherent in fully realizing digital strategies. The primary obstacles include the inability to measure value accurately from investments (32%), a lack of clarity on necessary resources and skills (25%), and a lack of consensus on priorities among leadership (23%).

Asset management has emerged as a critical factor in delivering new services and outcomes as part of a digital transformation, with 36% of respondents emphasizing its importance ensuring reliable and efficient service delivery. This focus is driven by aging infrastructure and increasing asset complexity. Many grid components are well past their intended lifespan and operate under conditions far more severe than they were originally designed for, while the shift to renewables and distributed energy resources adds further complexity.

Other operational areas are referenced in this context with resource optimization cited by 39%; 38% highlighting the need for a robust customer experience strategy, and 36% mentioning field service management.

Carol Johnston, VP of Energy, Utilities and Resources at IFS, commented: “The utilities sector is at a pivotal moment, where AI-driven digital transformation and sustainability are not just trends but imperatives. Our research proves the need for robust data management and AI capabilities to ensure companies make a success of their transformation. But utilities must also embrace a holistic approach, leveraging end-to-end digital tools and fostering strong partnerships to navigate this complex landscape.”

When it comes to executing on digital transformation strategies, composable enterprise platforms which empower businesses to mix and match/assemble different software modules to meet their specific needs are in high demand, with 38% of decision makers seeking such solutions to support their journey. This underlines the need for flexible and modular technology infrastructures as companies look to adapt quickly to changing requirements, while being able to integrate various applications more seamlessly.

Johnston added: “Composable platforms allow enterprises to bring in new functionality as and when required, providing a flexible approach to digital transformation. This reduces complexity and allows companies to adopt technology at their own pace, offering a streamlined solution that integrates various applications seamlessly.”

The research also reaffirmed sustainability as a top priority for utilities businesses, with 46% of respondents currently at the stage of setting timelines and goals for achieving sustainability targets. However, only 31%have hit their first milestones. The key strategies for meeting these goals include improving asset efficiency (43%) and investing in energy-efficient assets (42%).

Sustainability in the utilities sector involves more than just carbon reduction. It includes revenue models, workforce retention, and safe operations. Integrating sustainability across operations ensures resilience and compliance. Johnston added: “We don’t see sustainability as a trade-off, but as an opportunity to create value for our customers and society. Utilities also increasingly understand the importance of accurate data and reliable reports in measuring progress to key sustainability goals and avoiding greenwashing. Effective strategies include optimizing resource use, selecting sustainable suppliers, and engaging customers in programs like energy audits and solar panel installations.”

There is significant importance in connecting four of the core themes from this research: AI, digital transformation, asset management, and sustainability. “Utilities must recognize that these elements are interconnected. By leveraging AI and digital tools to optimize asset management, they can meet sustainability goals more effectively. This comprehensive approach ensures a balanced and strategic transformation journey,” concluded Carol Johnston.

Research conducted by Censuswide in April and May 2024. The research polled 863 C-level executives and VPs from utilities companies specializing in power generation, transmission, distribution, natural gas, and water/wastewater services. Conducted across the UK, US, France, the Nordics, the Middle East, and Australia, it explores critical trends, challenges, and strategic priorities, particularly in digital transformation, sustainability, and customer experience.

About IFS

IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build, and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers – at the Moment of Service™. The industry expertise of our people and of our growing ecosystem, together with a commitment to deliver value at every single step, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of over 6,000 employees every day live our values of agility, trustworthiness, and collaboration in how we support our 6,500+ customers. Learn more about how our enterprise software solutions can help your business today at ifs.com.

IFS Recognition

IFS ranked #1 for EAM market share in the Gartner® Market Share: All Software Markets, Worldwide, 2023 report for third consecutive yearGartner® Peer Insights Customers’ Choice 2023 – Cloud ERPIFS named a leader in IDC MarketScape: Worldwide Field Service Management Solutions 2023-2024Top 100 Companies (3rd), The Software Report, 2023

IFS Press Contacts:

EUROPE / MEA / APJ: Adam Gillbe
IFS, Director of Corporate & Executive Communications
Email: press@ifs.com 
Phone: +44 7775 114 856

NORTH AMERICA / LATAM: Mairi Morgan
IFS, Director of Corporate & Executive Communications
Email: press@ifs.com
Phone: +44 7918 607 299

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/ifs/r/utilities-globally-prioritize-ai-to-drive-digital-transformation–but-lack-of-collaboration-a-key-fa,c4012876

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Greenlane Renewables Announces Management and Board of Director Changes

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~Appointment of Stephanie Mason as CFO completes planned succession~

VANCOUVER, BC, Nov. 15, 2024 /CNW/ – Greenlane Renewables Inc. (“Greenlane”) (TSX: GRN) (FSE: 52G) today announces the appointment of Stephanie Mason as Chief Financial Officer (“CFO”), effective January 13, 2025.

Ms. Mason brings over 15 years of experience to her new role as Greenlane’s CFO. Ms. Mason has been with Greenlane for over 4 years, most recently as Director of Finance following a promotion from Corporate Controller. Prior to working at Greenlane, Ms. Mason gained experience at other TSX-listed renewable energy companies managing teams responsible for financial reporting, regulatory compliance and other finance activities. Ms. Mason developed her strong accounting foundation at PricewaterhouseCoopers where she obtained her CPA, CA designation.

“We are excited to welcome Stephanie into the role of CFO,” said Brad Douville, CEO of Greenlane Renewables. “Stephanie brings a depth of expertise in finance, reporting, and operations and provides continuity in leadership at Greenlane. Transitioning overall financial leadership from Monty Balderston to Stephanie starting at the beginning of 2025 completes a planned succession as we continue to advance our strategic goals in the RNG space. During his tenure as CFO over the last couple of years, Monty has provided solid leadership of the finance function at Greenlane and played a pivotal role on the senior management team. I want to thank Monty for all of his contributions.”

“I am honored to become Greenlane’s CFO. This is an organization recognized for its commitment to sustainability and innovation,” stated Ms. Mason. “I look forward to contributing to the company’s financial reporting strength and supporting its growth objectives.”

Mr. Balderston will remain as CFO until voluntarily resigning effective January 13, 2025. Mr. Balderston will support the transition to Ms. Mason upon her appointment, following which he will leave the Company on January 24, 2025.

Further to the management update announced on August 23, 2024, Ian Kane will be completing his transitional role as President and will leave the Company on November 22, 2024 when he will step down from Greenlane’s Board of Directors. The Company wishes to thank Mr. Kane for all of his efforts in helping drive Greenlane’s business plan.

About Greenlane Renewables

Greenlane is driving change: accelerating the energy transition to a net-zero emissions economy. We are cleaning up two of the largest and most difficult to decarbonize sectors of the global energy system: the natural gas grid and commercial transportation. As a pioneer and leading specialist in biogas upgrading, we have been actively contributing to the decarbonization of our planet for over 35 years. The systems we provide transform biogas generated from organic waste into high-value grid-ready renewable natural gas (“RNG”). Our systems produce clean, low-carbon and carbon-negative RNG from organic waste sources including agriculture (such as dairy and hog manure), water resource recovery facilities, food waste, landfills, and sugar mills. Greenlane is the only biogas upgrading company offering and actively deploying the three main upgrading technologies: waterwash, pressure swing adsorption, and membrane separation, plus proprietary biogas desulfurization technology. Greenlane has delivered over 145 biogas upgrading systems into 19 countries, including some of the largest RNG production facilities in the world, and over 160 biogas desulfurization units. For further information, please visit www.greenlanerenewables.com.

SOURCE Greenlane Renewables Inc.

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Eastside Distilling, Inc. Announces Private Placement Offering

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Eastside Distilling, Bridgetown Spirits Corp., a consumer-focused beverage company that builds craft inspired experiential brands and Beeline Financial Holdings, Inc. (“Beeline”), a digital mortgage technology and lending company, announces the completion of a private placement offering (the “Offering”) with accredited investors, resulting in gross proceeds of $1,615,000.

PORTLAND, Ore. and PROVIDENCE, R.I. , Nov. 15, 2024 /PRNewswire-PRWeb/ — Eastside Distilling, Inc. (NASDAQ: EAST) (“Eastside” or the “Company”), a holding company for Bridgetown Spirits Corp., a consumer-focused beverage company that builds craft inspired experiential brands and for Beeline Financial Holdings, Inc. (“Beeline”), a digital mortgage technology and lending company, announces the completion of a private placement offering (the “Offering”) with accredited investors, resulting in gross proceeds of $1,615,000. Under the terms of a Securities Purchase Agreement, the Company sold $1,938,000 in original issue discount Senior Secured Notes (the “Notes”) and Pre-Funded Warrants to purchase 363,602 shares of Common Stock (the “Warrants”).

Joseph Gunnar & Co., LLC acted as the exclusive placement agent in connection with the Offering.

For an overview of the terms of the securities and transactions involved in the Offering, and copies of the forms of transaction documents entered into in connection therewith, please refer to the Company’s Current Report on Form 8-K filed on November 15, 2024 with the Securities and Exchange Commission. The Company plans to utilize the net proceeds for working capital and general corporate expenses, among other uses.

About Eastside Distilling

Eastside Distilling, Inc. (Nasdaq: EAST) is a producer of award-winning craft spirits, including whiskey, vodka, and rum. Founded in Portland, Oregon, Eastside is committed to quality, innovation, and sustainability, delivering exceptional products that reflect the spirit of the Pacific Northwest.

About Beeline Financial Holdings, Inc.

The Company recently closed on a merger with Beeline Financial Holdings, Inc. Beeline is a technology-driven mortgage lender offering a fully digital, AI-enhanced, platform that simplifies and accelerates the home financing process for homeowners and property investors. Based in Providence, RI, Beeline is dedicated to transforming the mortgage industry through innovative technology and customer-centric solutions.

Media Contact

Nick Luzza, BEELINE MORTGAGE , LLC Refinance, 1 4014184461 4014184461, nick@makeabeeline.com, https://www.eastsidedistilling.com/ 

View original content:https://www.prweb.com/releases/eastside-distilling-inc-announces-private-placement-offering-302306634.html

SOURCE BEELINE MORTGAGE , LLC Refinance

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The game-changer: New partnership between real estate tech innovator and luxury brokerage investor just gave agents at select firms valuable advantages and ease

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DALLAS, Nov. 15, 2024 /PRNewswire/ — The parent company of Briggs Freeman Sotheby’s International Realty, the leading luxury brokerage in Dallas, Fort Worth and all of North Texas, announces its groundbreaking partnership with Rechat, real estate’s only AI-powered Experience Management Platform for agents.          

Peerage Realty Partners, the world’s largest strategic investor in Sotheby’s International Realty affiliates, and Dallas-based Rechat have just advanced the real estate industry in a significant leap, through state-of-the-art technology. With the partnership, Rechat is now offering its advanced suite of tools and services to all Peerage Realty Partners brokerages — 206 offices across the U.S. and Canada — equipping its advisors with valuable advancements in real estate technology.          

Rechat was built to solve a universal and persistent problem faced by agents: the need to toggle between disparate platforms to manage the various aspects of their business. Briggs Freeman Sotheby’s International Realty has been working with Rechat almost since its beginning, as a first client, test case and collaborator. Now, years of innovation later, Rechat includes a marketing center, people center and deals center, allowing advisors to work within one integrated ecosystem to streamline tasks, automate listing marketing, create high-quality collateral, track transactions and more.          

Says Rechat CEO Shayan Hamidi: “We are dedicated to equipping agents with all of the tools they need — in one single tab or one single app — to excel in today’s competitive market.”          

Peerage Realty Partners is a leading residential real estate services firm, serving luxury markets across North America. Its brokerage partners include top Sotheby’s International Realty affiliates and other renowned independent firms. It has more than 6,100 advisors across 206 offices in the U.S. and Canada, to whose brokerages it provides strategic input, technology, marketing, operational expertise and much more. Its primary goal is to continually enhance the client, advisor and brokerage experiences through every phase of a transaction and beyond. Peerage Realty is projected to transact about $34.8 billion in sales in 2024 through its partner firms. Peerage Realty Partners, based in Toronto, Canada, has the unique benefit of being a privately owned enterprise, committed to long-term partnerships and investments.  

Says Gavin Swartzman, CEO of Peerage Realty Partners: “We are delighted to partner with Rechat to enhance our technological capabilities and provide our advisors with industry-leading tools. This collaboration aligns seamlessly with our ongoing commitment to leveraging innovation to better serve our clients and propel growth across our network.”    

To learn more, visit briggsfreeman.com, rechat.com and peeragerealty.com.

Peerage Realty Partners — the parent company of Dallas-based Briggs Freeman Sotheby’s International Realty and the world’s largest strategic investor in Sotheby’s International Realty affiliates — and Dallas-based Rechat, the creator of real estate’s only AI-powered Experience Management Platform for agents, have just advanced the real estate industry via state-of-the-art technology. With the partnership, Rechat is now offering its advanced suite of tools and services to all Peerage Realty Partners brokerages — 206 offices across the U.S. and Canada — equipping its advisors with valuable advancements in real estate tech. Rechat has eliminated the need for agents to toggle between disparate platforms to manage the various aspects of their business. After years of collaboration with Briggs Freeman Sotheby’s International Realty, Rechat now includes a marketing center, people center and deals center, allowing advisors to streamline tasks, automate listing marketing, create collateral, track transactions and more.

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-game-changer-new-partnership-between-real-estate-tech-innovator-and-luxury-brokerage-investor-just-gave-agents-at-select-firms-valuable-advantages-and-ease-302306550.html

SOURCE Briggs Freeman Sotheby’s International Realty

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