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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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Transworld Business Advisors’ Managing Director Peter Berg Named Florida Business Broker of the Year by Business Brokers of Florida

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Berg is the Top Dollar Producer having sold the highest dollar volume of businesses in Florida in 2025.

FT. LAUDERDALE, Fla., June 18, 2026 /PRNewswire/ — Transworld Business Advisors (Transworld), the largest business brokerage firm in the world, announced that Peter Berg, a shareholder and managing director, was named the No. 1 Top Dollar Producer for 2025 for all business intermediaries in the state of Florida. The annual award, presented by the Business Brokers of Florida (BBF), evaluates the dollar volume of all business brokers throughout the state in determining the honor. This is the ninth time Berg has won the prestigious honor.

“Peter excels at guiding sellers, buyers, and their advisors to successful outcomes, even in the most complex transactions,” said Andy Cagnetta, Founder of Transworld Business Advisors of Florida. “His persistence and ability to solve problems creatively is exceptional, and we are proud of his accomplishments.”

“I am grateful for the trust business owners place in me when selling their companies. Many businesses come with unique challenges, and a transaction is never certain until the deal closes, and sometimes not even then, said Berg. “It is rewarding to help owners convert years of hard work into equity, whether that means retirement or the freedom to pursue new opportunities. I’m fortunate to have the support of a great company and teammates, and I look forward to helping more business owners achieve their goals.”

Berg is a Certified Business Intermediary (CBI), an M&A Master Intermediary (M&AMI) and a Certified M&A Professional (CM&AP) as recognized by the industry associations IBBA and the M&A Source. He joined Transworld in 2000 and is celebrating his 26th year with the company. He is also a shareholder and sits on the Transworld board of directors. He specializes in selling businesses with profits between $2 mil and $30 mil.

For more information, please contact Peter Berg at pberg@transworldma.com or 954-907-3007. For more information about Transworld, please visit: www.tworld.com or www.transworldma.com.

About Transworld Business Advisors

Transworld Business Advisors® (TBA) is among the United Franchise Group™ (UFG) family of affiliated brands. With over 40 years of business brokerage experience, Transworld Business Advisors is in the business of helping buyers and sellers connect, conducting franchise consultations, and supporting franchise development. The company represents acquisition-minded corporations or individuals interested in owning their own company or franchise. From business brokerage to mergers and acquisitions, Transworld Business Advisors are business sale specialists that represent numerous listings across multiple industries. For more information about Transworld visit www.tworld.com and for information on owning a Transworld franchise, visit www.tworldfranchise.com.

View original content:https://www.prnewswire.com/news-releases/transworld-business-advisors-managing-director-peter-berg-named-florida-business-broker-of-the-year-by-business-brokers-of-florida-302804992.html

SOURCE Transworld Business Advisors

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Brazos Residential Announces Promotion of Cliff Davis to Junior Partner

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DALLAS, June 18, 2026 /PRNewswire/ — Brazos Residential is pleased to announce the promotion of Cliff Davis to Junior Partner, recognizing his significant contributions to the firm’s growth and investment platform since joining the company in 2022.

Davis joined Brazos Residential as an Investment Professional and has since assumed an increasingly influential role across the firm’s acquisitions, capital markets, investor relations, and asset management functions. Throughout his tenure, he has been directly involved in evaluating and executing investment opportunities, arranging debt and equity financing, and supporting strategic initiatives across the company’s expanding multifamily portfolio.

His promotion reflects both the impact he has made within the organization and the confidence the firm places in his long-term leadership and continued contributions to the business.

“Cliff has become an integral part of our organization and someone we rely on across many facets of the business,” said James Roberts, President and Co-Founder of Brazos Residential. “As our first hire, Cliff’s work ethic, commitment to excellence, and dedication to our mission embody what Brazos Residential stands for. His contributions have helped shape our growth, and this promotion is well deserved.”

“Cliff approaches the business with a high level of professionalism and discipline,” said Will Hancock, Chief Executive Officer and Co-Founder of Brazos Residential. “He has earned the trust of our team, partners, and investors through consistent execution and sound judgment. We are excited to welcome him into this leadership role and look forward to his continued impact on the future of the company.”

Prior to joining Brazos Residential, Davis worked at Berkadia Commercial Mortgage, where he was involved in underwriting, originations, and the execution of multifamily financing transactions, while also assisting in the sourcing and evaluation of investment opportunities. Earlier in his career, he served as a Credit Analyst at Benchmark Bank.

Davis earned a degree in Economics from The University of Texas at Austin and currently resides in Dallas, Texas.

The promotion underscores Brazos Residential’s continued commitment to developing talent from within and building an institutional-quality platform positioned for sustained long-term growth. As the company continues to expand its footprint across the Sun Belt, leadership development remains a core component of its strategy for creating value for investors, residents, and partners.

About Brazos Residential

Brazos Residential is a vertically integrated multifamily investment and property management platform headquartered in Dallas, Texas. Founded in 2022 without institutional backing, the firm has grown into a fully integrated real estate operating platform encompassing investment management, property management through Brazos Residential Management, and construction management through Brazos Construction Management.

The company currently manages over $800 million in assets under management across more than 7,000 apartment units and employs more than 200 professionals. Brazos focuses on workforce and Class B/C multifamily housing in high-growth Sun Belt markets, with a strategic emphasis on acquiring attainable housing located near major employment centers. Through its vertically integrated operating model, Brazos seeks to preserve and improve naturally occurring affordable housing while delivering attractive risk-adjusted returns for institutional and private capital partners.

Media Contact: marketing@brazosres.com 

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SOURCE Brazos Residential

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Monport Mega S Redefines What a Desktop Laser Engraver Can Do for Small Businesses

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The upgraded Monport Mega S desktop laser engraver combines speed, precision, and automation to help businesses scale production, improve output quality, and reduce workflow complexity.

NEW YORK, June 18, 2026 /PRNewswire/ — As small businesses and independent makers continue to expand into custom products, signage, and light manufacturing, the need for reliable and efficient laser systems has grown significantly. While entry-level machines have made laser engraving more accessible, many operators quickly outgrow basic systems when production demands increase.

The Monport Mega S desktop laser engraver is designed to bridge that gap, offering a more production-ready solution that brings industrial-style capabilities into a compact desktop format. Built for speed, consistency, and usability, the upgraded system reflects how desktop laser technology is evolving beyond hobby use into serious business production tools.

Rather than focusing solely on specifications, the Monport Mega S emphasizes workflow efficiency—helping users move from design to finished product with fewer manual steps and greater consistency.

Desktop Laser Power Designed for Real Business Use

For many growing businesses, the challenge is not learning how to engrave, but scaling production without sacrificing quality. The Monport Mega S desktop laser machine addresses this by combining high-speed performance with automation features that simplify daily operation.

With engraving speeds reaching up to 600 mm/s and precision down to 0.03 mm, the system is designed to handle both detailed engraving and efficient cutting tasks across materials such as wood, acrylic, leather, and coated surfaces. This balance of speed and accuracy allows users to take on both custom one-off orders and higher-volume production runs.

Unlike traditional entry-level systems, the Mega S desktop laser engraver is built with production continuity in mind, giving users the ability to maintain output consistency across larger batches.

Built for Faster Workflow and Reduced Manual Setup

One of the most time-consuming aspects of laser production is setup and preparation. Material alignment, focus adjustments, and repeated calibration can slow down workflow significantly, especially in small workshop environments.

The Monport Mega S desktop CO2 laser engraver reduces these friction points through integrated automation features designed for practical day-to-day use.

Key workflow advantages include:

Built-in autofocus system that adjusts based on material thicknessSmart Batch Fill support for efficient multi-item processingSimplified optical alignment process for quicker setupEnhanced airflow system for improved cutting quality and cleaner edgesEfficient smoke extraction for a safer working environmentSupport for automated feeding workflows for repetitive production tasks

These features allow users to spend less time preparing machines and more time producing finished goods, which is especially important for businesses handling frequent or recurring orders.

Conveyor Belt Integration Expands Production Capability

A key upgrade that sets the Mega S apart from many standard desktop laser systems is its optional conveyor belt system. This feature enables continuous material feeding, allowing businesses to process longer materials or run uninterrupted production workflows.

For businesses producing signage, engraved panels, or repetitive product runs, the conveyor system helps reduce downtime between jobs and supports a more assembly-line style production approach. Instead of manually repositioning materials, users can maintain consistent output across extended production cycles.

This type of capability is typically associated with larger industrial systems, making it a notable advancement in the desktop laser engraver category.

Supporting Both Creative and Commercial Applications

While the Monport Mega S is designed with business scalability in mind, it remains versatile enough to support a wide range of applications. This flexibility is one of the reasons it has become relevant for both new entrepreneurs and expanding production shops.

Common applications include:

Personalized gifts and custom merchandiseAcrylic signage and branding materialsWood engraving and decorative productsLeather accessories and fashion itemsSmall-batch manufacturing and prototyping

The machine’s combination of precision engraving and cutting capability allows users to expand product offerings without needing multiple machines for different tasks.

Improved Safety and Workspace Efficiency

In addition to performance improvements, the Monport Mega S also focuses on creating a more stable and safer working environment. Its Class 1 safety design makes it suitable for both home-based workshops and small business environments where space and safety compliance are important considerations.

The enhanced airflow and smoke extraction system further improves usability by maintaining a cleaner workspace during extended production sessions. This becomes especially valuable for businesses operating daily production schedules or working with materials that generate more residue.

A Step Forward for Desktop Laser Manufacturing

The evolution of desktop laser systems has increasingly blurred the line between entry-level hobby tools and production-ready equipment. The Monport Mega S desktop laser engraver reflects this shift by offering a system that is not only capable of detailed creative work but also structured for repeatable, scalable business output.

Rather than requiring users to upgrade to full industrial machinery, the Mega S provides many of the workflow advantages needed for growth—automation, batch processing, and optional continuous feeding—within a compact desktop format.

For small businesses, makers, and growing production shops, this means fewer operational bottlenecks and more opportunity to focus on output and customer demand.

Monport is currently offering a limited-time promotion for the Mega S Powerful Desktop CO2 Laser Engraver, which includes:

Instant $300 discountFree air assist systemFree 2 black laser marking sprays

The promotion is designed to help new and growing businesses lower initial setup costs while gaining access to upgraded production tools that improve efficiency and output quality.

To learn more about the Monport Mega S desktop laser engraver, visit Monport Laser official website.

Media Contact:
Monport Laser
Email: official@monportlaser.com 
Website: www.monportlaser.com.

View original content:https://www.prnewswire.com/news-releases/monport-mega-s-redefines-what-a-desktop-laser-engraver-can-do-for-small-businesses-302804972.html

SOURCE Monport

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