Overall Rank: 3
Category: Business Processes
Category Rank: 1
- Top Software Company of 2023
- Power 500 Software Company
IFS is a global enterprise software company that was founded in 1983. 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. By offering industry-specific products connected to a single data model and infused with digital innovation, IFS enables its customers to streamline their operations and enhance their efficiency.
The company serves a diverse range of industries, including Aerospace & Defense, Construction & Engineering, Energy, Utilities & Resources, Manufacturing, Service Industries, and Telecommunications. Some of IFS’s notable clients include renowned companies such as Toyota, Hyundai, China Airlines, British Sky Broadcasting, and Shanghai Metro. With a strong global presence, IFS employs over 5,500 professionals across more than 80 countries. The company’s commitment lies in delivering value at every stage to its 10,000+ customers.
IFS places great importance on customer service, reflecting its core values of agility, trustworthiness and collaboration. These values have contributed to IFS’s recognition as a leader and the most recommended supplier in its sector. In July 2023, IFS acquired Ultimo, a provider of cloud Enterprise Asset Management (EAM) software, complementing it’s existing offering allowing them the ability to offer Cloud native EAM solutions that cater for every company with either complex end-to-end business needs or as a standalone point solution. The dedicated business unit within IFS focuses on delivering new product innovation, increasing investment in customer experience, and adopting a more targeted, industry-led approach to go-to-market strategies.
Overall, IFS continues to be a prominent player in the global enterprise software market, providing tailored solutions to various industries and prioritizing customer satisfaction through its values-driven approach.
Enterprise Resource Planning (ERP)
IFS provides a comprehensive ERP solution that integrates core business processes such as finance, manufacturing, supply chain, project management, and human resources, enabling organizations to improve operational efficiency and make informed decisions.
Enterprise Asset Management (EAM)
IFS offers EAM solutions for effective management of physical assets, encompassing asset tracking, maintenance planning, resource allocation, and performance analysis, helping businesses optimize asset utilization, reduce downtime, and extend asset lifespan.
IFS provides an ESM solution to streamline and automate service delivery processes, including managing service requests, work orders, contracts, and service-level agreements, enhancing customer service, efficiency, and profitability.
Customer Experience Management
IFS offers a solution for managing customer experiences across multiple touchpoints, enabling personalized engagement, customer journey mapping, analytics, and omnichannel interaction to deliver exceptional customer experiences.
Enterprise Service Management (ESM)
IFS provides ESM solutions to streamline and automate the delivery of internal services such as IT, HR and facilities
According to reviews on G2 and Capterra, IFS software has received positive feedback. Users value its flexibility, customization options, and intuitive nature. They have witnessed streamlined business operations, increased efficiency in areas like inventory and field service management, and improved project management. However, users acknowledge the software’s complexity and learning curve.
Capterra users appreciate the software’s functionality, customization, and support, specifically highlighting its ability to manage diverse manufacturing processes on a single platform. Although setup and customization may be challenging for smaller companies. The IFS Manufacturing capability is highly recommended for its capacity to enhance manufacturing efficiency and provide better operational visibility.
Customers have provided valuable insights about IFS software, highlighting its positive impact on their businesses. They have shared success stories of how IFS solutions have enabled digital transformation, enhanced operational efficiency, optimized resource utilization, improved customer satisfaction, and empowered better decision-making through data-driven insights.
‘The IFS platform will manage our service operations and also serve as a central repository for our inventory visibility and IoT data. Having a single view of our assets, whether fielded at customer sites or located in our repair shops and warehouses, is hugely beneficial.’ – Per Ahlmann Andersen, Global Business Solutions Senior Director at Carlsberg
‘As a result of the new system, our success rate has increased by 30-40% due to the automation which enables our agents to spend more time with employees and candidates.’ – Simon Barber, Operations Manager, Contact Center, Babcock
‘Our consistent global growth has been strongly supported by the cooperation we have had with IFS. having now also recently chosen the IFS CRM solution, we look forward to streamlining our operations even further.’ – Trond Aune, ERP Manager, Jotun
‘The new systemized approach is saving us hours every day. IFS has definitely allowed our users to accomplish more in less time.’ – David Anderson, Head of Office Projects & IT, Pukka Herbs
- Growth rate: IFS has been growing at 3x the market average.
- Customer retention rate: 98%
- Partners: IFS has over 500 partners worldwide.
- Number of employees: 5,500+
- Number of countries with offices: 50+
- Number of customers: 6500
- Q1 2023 revenues:
- Q1 FY2023 software revenue was EUR 186 million, an increase of 44 percent versus Q1 2022.
- Q1 FY2023 recurring revenue was EUR 176 million, an increase of 48 percent versus Q1 2022.
- Q1 FY2023 cloud revenue increased 55 percent versus Q1 2022.
- Q1 FY2023 net revenue was EUR 236 million, an increase of 38 percent versus Q1 2022.
Rating and Commentary
IFS is a market leader known for its strong product suite and consistent outperformance of competitors, leading to impressive growth rates. The company boasts an exceptional customer retention rate of 98% and maintains a global network of over 500 partners, highlighting its commitment to innovation and customer satisfaction. Under the leadership of experienced professionals and industry experts, such as Darren Roos, who possesses over 20 years of experience, IFS demonstrates exceptional expertise and strategic decision-making abilities that effectively steer the company toward success. Furthermore, IFS’s solid structure, efficient processes, and skilled workforce contribute to its efficient operations.
Supported by significant funding from multiple rounds and investments, including backing from prominent investors like EQT Partners, IFS has experienced exponential expansion. The Q1 FY2023 revenue growth validates its positive trajectory, while strong capital backing enhances the company’s financial stability and provides a solid foundation for future endeavors. With a substantial market size, IFS has ample opportunities for further growth and expansion. The company’s products are highly regarded for their quality, consistently meeting customer expectations and driving satisfaction. Despite the presence of competitive threats, IFS’s strong market positioning, innovative approach, and commitment to customer-centric solutions mitigate risks and position the company favorably for continued success.
Darren Roos, Chief Executive Officer
Darren Roos is the CEO of IFS, a global software business with over 20 years of experience. He is passionate about being resilient, resourceful, and problem-solving, and has overseen the advancement of the company’s position in Field Service Management, Enterprise Asset Management and Enterprise Resource Planning. He is a respected thought-leadership writer and Cloud expert, and advocates for diversity in business. He is also a board director at Sitecore.
Marne Martin, President & Chief Strategy Officer
Marne Martin is the President & Chief Strategy Officer at IFS. She works to empower and enable customers to transform and grow their businesses through digitalization and optimization. She has won awards such as CEO Gamechanger of the Year and Field Service CEO of the Year. She also enjoys competing in dressage and supporting girls and women pursuing STEM careers.
Christian Pedersen, Chief Product Officer
Christian is the Chief Product Officer at IFS, responsible for designing and building industry-leading functionality that customers need, partners can promote, and competitors cannot match. He has a rich history in the field and a passion for motor racing and sailing.
Dr. Matthias Heiden, Chief Financial Officer
Dr. Matthias Heiden is the Chief Financial Officer at IFS, responsible for leading the finance organization and creating value for all parts of the business. He has previously held positions at Software AG, SAF-HOLLAND Group, SAP, and the ME&E region. He has a degree in Business Administration and a PhD in Economics from the University of Saarland and studied Business & Finance at Suffolk College, UK.
Mark Moffat, Chief Customer Officer
Mark Moffat, has a wealth of experience working with customers across multiple sectors in some of the largest global multinationals, advising on technology strategy, M&A and business transformation. Customers have valued Mark’s innovative and visionary mindset in helping companies from varying levels of maturity achieve transformational results. In Mark’s most recent role, as CTO and Technology Consulting Leader for PwCs UK and EMEA Consulting business, he was responsible for delivering leading technology into the heart of the PwC service proposition portfolio.
Sal Laher ,Chief Digital & Information Officer
Sal Laher is Chief Digital and Information Officer (CDIO) at IFS. His appointment at the end of 2018 sees him lead the talented team that is driving all information technology, as well as the continued digitization and transformation of IFS. In mid 2019 he was given additional accountability for IFS Facilities and IFS Procurement globally. He has successfully overseen the largest technology transformation program successfully in the Company’s history – the move to IFS own enterprise ERP software platform, IFS Applications 10, along with major other components like a single new Intranet; Payroll standardised on a single platform; and many other solutions in the cloud that addresses the end to end processes of IFS.
IFS fosters an inclusive and collaborative organizational culture that values adaptability, dependability, and collaboration. The company emphasizes teamwork and encourages employees to share ideas and work together towards common goals. With a global workforce spread across 80 countries, IFS promotes diversity and strives to create an environment that embraces different perspectives and cultures. They prioritize employee development and engagement, recognizing that their talented and motivated workforce is key to delivering value and exceptional customer service.
IFS has an open and diverse culture that values collaboration, agility, and trustworthiness. The company empowers its employees to work closely with customers to deliver outstanding service, and values contributions towards making a real-world impact. Sustainability principles are a core component of the company’s operations, and employees can contribute to the company’s CSR initiatives and partnership with the IFS Foundation. According to employee reviews on Glassdoor, IFS is the best place to work in 2021, and employees are known to “lean in” where it matters.
“IFS people really lean in where it matters”
“Using communication as a tool to keep IFS’s Global Customer Organization informed, motivated and engaged, I nurture communication channels to enhance the ability to perform as one united team, especially when interacting with customers and the partner ecosystem. As a champion of IFS’s customer centricity, I develop thought leadership in partnership with the leadership team to drive external and internal communications that cut through the noise. The best things about my job is that it gives me the opportunity to work with talented people all over the world who all lean in and drive one goal.” – Zoe Leach-Leeson, IFS Employee, Communications Officer, Global Customer Organization – United Kingdom
“I help make air travel safer”
“In my role as data migration/solution analyst, I make sure IFS’s airline customers’ business data is securely transitioned from legacy systems into IFS Maintenix while ensure all airworthiness requirements are met. My goal is to ensure the success of our clients in tracking all of their maintenance needs and maximizing their business potential. Besides having the world’s best colleagues and customers, the thing I like best about my job is that my work has a direct impact on making air travel safer.” – Taha Zaidi, IFS Employee, Senior Data Migration/Solution Analyst – Canada
Darren Roos, CEO
Darren Roos serves as the CEO of IFS, bringing extensive experience in leading global software companies. With a focus on customer-centricity and digital transformation, Roos has been instrumental in driving IFS’s growth and success. He is known for his strategic vision, driving innovation, and fostering a customer-first culture within the organization.
Matthias Heiden, CFO
Matthias Heiden is the current CFO of IFS, having recently been appointed to the position. With his extensive financial expertise and international experience, Heiden plays a crucial role in overseeing the company’s financial operations, driving financial strategy, and supporting IFS’s growth plans. He brings a strong background in finance and a deep understanding of financial management to ensure the financial stability and success of the organization.
Kate Bishop, Chief Human Resources Officer
Kate ensures that all aspects of our HR strategy are future focused and support the strategic direction of the company, specifically in relation to our employees’ lifecycle from onboarding to talent development and succession planning, organizational change management, and shaping our vision for diversity and inclusion. With a wealth of experience acquired in senior leadership roles in the US, Canada, Japan and Thailand, she brings deep HRM expertise from both the public and private sector and large and small companies.
Michael Ouissi, Chief Operating Officer
Michael is responsible for IFS’s commercial strategy and revenue-generating activities. Michael is a passionate advocate for customer centricity being the most important differentiator in today’s digital world. Focusing on supporting customers with effective solutions rather than specific products, he is also a believer in change and has built a reputation for enabling customers to use technology to create competitive differentiators and operational efficiencies.Prior to joining IFS, Michael worked for more than a decade at Software AG, where he was most recently a member of the Group Executive Board responsible for Customer Engagement Excellence. Michael has also held positions as financial controller, regional and global commercial director, head of key account management, and regional managing director.
IFS has raised a total of €3 billion through three funding rounds. Their most recent funding was raised through a secondary market round on March 30, 2022. The IFS is backed by four investors. Hg and TA Associates participated in the secondary market funding round. EQT and Zobito Participate in Private Equity Round. IFS has acquired fourteen companies. Ultimo Software Solutions was their most recent acquisition on July 5, 2022.
Some of the Investors for the company are:
- QT Partners: EQT Partners is a global investment firm that focuses on investing in companies with significant growth potential. With expertise in the technology sector, EQT Partners may have been attracted to IFS’s software solutions and its potential for expansion in the enterprise software market.
- TA Associates: TA Associates is a leading global private equity firm that invests in growth-oriented companies across various sectors. Their investment in IFS may reflect their confidence in the company’s growth prospects, market position, and potential for generating strong returns.
- IFS launched its Partner Success programme in the first quarter of 2023 to strengthen and advance its partner strategy.
- IFS was named a Customers’ Choice by Gartner Peer InsightsTM customers in February 2023. Gartner Peer Insights ‘Voice of the Customer’: Cloud ERP for Product-Centric Organizations
- IFS and Lockheed Martin Sign Enhanced Partnership to Keep Aerospace and Defense Assets Mission-Ready (2023)
- ANZ partners with InfoConsulting to grow presence in region (2023)
- IFS signed a sponsorship agreement with the London Cable Cars in September as part of a brand activation campaign.
- IFS acquired EAM software solutions provider Ultimo Software Solutions in July 2022.
- IFS launched Arcwide in April 2022, a joint venture with BearingPoint designed to accelerate IFS Cloud deployments.
- IFS positioned highest on Ability to Execute and furthest on Completeness of Vision axes in the 2022 Gartner® Magic Quadrant™ for Field Service Management (2022)
- IFS is ranked first in the Gartner Global EAM Market Share by Revenue 2021 report.
News and Press Releases
- June, 2023: IFS Acquires Poka (Read)
- May 2023: IFS named a Customers’ Choice in the 2023 Gartner Peer Insights (Read)
- April, 2023: IFS continues on growth path with robust Q1 performance (Read)
- March, 2023 Polish manufacturer KAN selects IFS to support global expansion (Read)
- February, 2023: IFS marks 25th anniversary of the inception of its operations in Sri Lanka (Read)
- January 25, 2023: IFS added more than 250 new logos for its core industries (Read)
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The IFS Corporate Social Responsibility (CSR) program aims to foster sustainable growth, enhance the well-being of employees and stakeholders, and minimize the environmental impact of operations. The company is committed to responsible business practices and ethical conduct, and operates in accordance with relevant laws and regulations. The CSR program has several focus areas, including employee well-being, diversity and inclusion, environmental sustainability, community involvement, and ethical business practices. IFS also encourages employee volunteerism and supports various charitable initiatives. The company regularly reviews and reports on its CSR performance to ensure continuous improvement and transparency.
- The IFS Education Program aims to support students worldwide in accessing technology and taking the first steps in their future careers. Through the program, IFS provides free access to its enterprise software solutions to educational institutions, helping to train the next generation of technology professionals.
- The IFS CSR Day allows IFS employees to give back to their communities by volunteering their time and skills to support causes close to their hearts. The company encourages its employees to use their expertise to help local organizations and projects, empowering them to make a difference.
- The IFS Foundation, in partnership with independent charitable organizations, focuses on reducing poverty in rural Sri Lanka. By supporting a range of projects, the Foundation works to improve access to education, healthcare, and sustainable livelihoods.
- As a signatory of the UN Global Compact, IFS is committed to principles that promote human rights, labor, the environment, and anti-corruption.
- The company’s sustainability program focuses on investing in sustainable practices to drive value for businesses and society, including reducing carbon emissions, improving waste management, and promoting ethical supply chains.