NEXION (ASX:NNG) go next level
July 25, 2023NEXION Group has deepened its relationship with IBM, anticipating an extended sales agreement with a specific focus on machine learning and ESG.
The partnership aims to drive faster revenue growth and higher margins across Australia’s asset-intensive resources industries.
Now a silver business partner and selling IBM’s Watson AI platform and Sustainability Suite which incorporates asset management and ESG reporting, NEXION has also formed an alliance with Vancouver-based Fuseforward cloud services to accelerate adoption of the product combination.
Watson’s artificial intelligence and machine learning capabilities have been long in development, and after rapid advances in recent months, NEXION see an opportunity to optimise Australia’s large-scale mining and energy sector with the platform’s proven capabilities.
NEXION Executive Chairman and Interim Group Chief Executive Peter Christie said the company valued a close relationship with the world’s largest industrial research organisation, and the new pact built on well-laid foundations.
“Delivering enterprise-scale software and related services opens new opportunities for NEXION to win larger projects with higher gross margins than our traditional infrastructure product suite delivers,” Mr Christie said.
“Software for Enterprise Asset Management is an area of expertise that’s highly sought after in Western Australian, given the concentration of large-scale mining and energy operations in our region.
“IBM’s software is embedded in the operations of our largest asset operators, presenting an immediate opportunity for NEXION to engage in new projects, especially related to ESG.”
ESG growth
ESG investment is soaring and is expected to reach US$33.9 trillion by 2026 to make up more than a fifth of all assets under management and is gaining momentum in Australia alongside the rest of the world.
It is a trend not unnoticed by the Perth-based technology consultants, who have made the sector a key focus and aim to tap into the phenomenal demand by developing its capabilities to deliver systems to gather, store, analyse and present the necessary data for companies to meet reporting requirements.
And now with a combination of IBM’s foundational software and AI platform alongside Fuseforward’s expertise in data orchestration and NEXION’s own ability to manage the complex cloud hosting operating environments, the emerging tech group see a new skill set ready for West Australian industry.
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