Envizi, a data and analytics software supplier for environmental performance management, has been acquired by IBM. This acquisition would add to IBM’s growing investments in AI-powered software, such as IBM Maximo asset management solutions, IBM Sterling supply chain solutions, and IBM Environmental Intelligence Suite, all of which aim to help businesses build more resilient and sustainable operations and supply chains.
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Envizi’s offering is available as a SaaS solution that runs in multi-cloud settings. The company serves top companies like as Microsoft, Qantas, CBRE, Uber, abrdn, and Celestica. Its software may be used to activities across a number of sectors.
Envizi is already being used by IBM to help ease tracking and reporting of the company’s progress toward its own targets in renewable energy procurement and greenhouse gas (GHG) emissions reduction. Financial terms of this acquisition were not disclosed.
“To drive real progress toward sustainability, companies need the ability to transform data into predictive insights that help them make more intelligent, actionable decisions every day,” said Kareem Yusuf, PhD, General Manager, IBM AI Applications. “Envizi’s software provides companies with a single source of truth for analyzing and understanding emissions data across the full landscape of their business operations and dramatically accelerates IBM’s growing arsenal of AI technologies for helping businesses create more sustainable operations and supply chains.”
Envizi’s Software
Regulators, investors, and customers are putting increasing pressure on businesses to move toward more sustainable and socially responsible business practices – and to show these efforts in a comprehensive and verifiable way, stated IBM. In fact, major firms identified corporate social responsibility and environmental sustainability risks as the third most important concerns for enterprises in a Forrester survey from 2021. However, the many forms of data that businesses require to evaluate and report on sustainability activities are extremely fragmented and difficult to get for all interested parties, according to IBM.
Envizi’s software automates the gathering and aggregation of over 500 different data types, as well as supporting the most common sustainability reporting formats. Companies can monitor, manage, and report on environmental targets, uncover efficiency possibilities, and assess sustainability risk using its user-friendly and readily customizable dashboards. Envizi’s solutions would help clients perform these duties more efficiently as part of larger Environmental, Social, and Governance (ESG) reporting programs, while also providing them with useful sustainability insights to help them make better business decisions.
Organizations will be able to automate the feedback created between their corporate environmental programs and the operational endpoints used in everyday company operations by combining Envizi with IBM’s wider AI-powered software – a critical step in making sustainability efforts more scalable. Envizi, for example, will work with:
- IBM Maximo asset management solutions – It would provide intelligent asset management, monitoring, predictive maintenance, and reliability in a single platform to help organizations extend the life of their key assets and decrease environmental impact.
- IBM Sterling supply chain solutions – It uses blockchain-based technology for traceability to help organizations gain supply chain insight, minimize waste by right-sizing inventory, decrease the carbon footprint of transportation and logistics, and assure responsible sourcing.
- IBM Environmental Intelligence Suite (EIS) – It would aid businesses in being more resilient by analyzing and preparing for the effects of changing environmental conditions on their operations, assets, and supply networks. EIS utilizes IBM’s AI and weather technologies.
- IBM Turbonomic and Red Hat OpenShift capabilities – It assists organizations in automating decision-making when deciding where to run corporate workloads for the best performance, cost, and GHG emissions.
“As a leader and innovator in AI for business, IBM has decades of experience helping organizations around the world harness the power of their data and act on it,” said David Solsky, CEO and Co-Founder of Envizi. “IBM’s global reach, depth of resources and breadth of expertise will help us to scale at an unprecedented pace. As part of IBM, we feel more confident than ever that we can achieve our goal of providing clients and partners with the world class tools they need to reduce their operational impacts and optimize for the low carbon future.”
Envizi would also contribute to IBM Consulting’s burgeoning sustainability practice, which aims to help organizations meet their sustainability goals more quickly.
IBM is also using the AI software to improve its own operational efficiencies, manage energy consumption, and reduce GHG emissions, in addition to its ongoing investments in providing clients with the most comprehensive AI software to help them accelerate their sustainability initiatives and support their environmental goals. These actions would contribute to IBM’s goal of achieving net zero GHG emissions by 2030.
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