Profile

IFS is recognized as the world’s leading provider of Industrial AI and enterprise software for businesses that manufacture, service, and power critical aspects of the planet. The company’s technology empowers organizations engaged in manufacturing goods, maintaining complex assets, and managing service-focused operations to harness the transformative power of Industrial AI™ for enhanced productivity, efficiency, and sustainability.

IFS Cloud serves as a fully composable, AI-powered platform tailored for flexibility and adaptability to align with specific business requirements and evolving needs. It addresses the demands of Enterprise Resource Planning (ERP), Enterprise Asset Management (EAM), Supply Chain Management (SCM), Information Technology Service Management (ITSM), and Field Service Management (FSM). The platform integrates AI, machine learning, real-time data, and analytics to enable customers to make strategic, informed decisions and excel in their Moment of Service™.

Founded in 1983 by five university friends who initially pitched a tent at a customer’s site to provide 24/7 support, IFS has grown into a global leader with over 7,000 employees operating in 80 countries. Guided by core values of agility, customer-centricity, and trust, IFS continues to deliver exceptional value and drive strategic transformations. The company is widely recognized as the most recommended supplier in its sector. For more information, visit ifs.com.

Key Products

IFS is a global leader in enterprise software for Enterprise Resource Planning (ERP), Field Service Management (FSM), Enterprise Asset Management (EAM) and Information Technology Service Management (ITSM).

Customer Insights

IFS’s customer focus and technology leadership position has been reinforced by recent independent recognition of market leadership across the major product categories it serves:

• IFS named a Customers’ Choice in the 2024 Gartner® Peer Insights™ Voice of the Customer for Cloud ERP for Product-Centric Enterprises


• IFS ranked #1 for EAM market share in the Gartner® Market Share: All Software Markets, Worldwide, 2023 report for third consecutive year


• IFS has an Overall Rating of 4.7 out of 5 in the Field Service Management market, based on Gartner Peer Insights™ *


• IFS has an Overall Rating of 4.6 out of 5 in the IT Service Management Platforms market, based on Gartner Peer Insights™ **

* As of 16th July, 2024, based on 53 reviews on Gartner Peer Insights

**As of 16th July, 2024, based on 22 reviews on Gartner Peer Insights

“At Joby, we are at the forefront of revolutionizing travel with our eVTOL aircraft. Ensuring the seamless operation and maintenance of these aircraft throughout their lifecycle requires an equally innovative software solution. That’s why we have chosen IFS as our trusted partner. The IFS solution offers a robust software foundation that can evolve and adapt to meet our growing needs, from the initial testing and regulatory approval phases to the full-scale operations of Joby aircraft.” Matthew Lykins, Aircraft Maintenance Lead at Joby Aviation

“By choosing IFS, we are investing in a partner that not only understands our industry challenges, but also the opportunities for us to grow and deliver value to our business as we scale and develop with a newfound agility.” Jon Stannah, Group Managing Director at Stannah

“The decision to upgrade to IFS Cloud is a pivotal step in our ongoing pursuit of operational excellence and customer satisfaction. This transition is more than an upgrade; it’s a reinvention of how we manage our processes, maintain our assets, and engage with our customers. With IFS Cloud, we are not just keeping pace with technological advancements; we are staying ahead of the curve, ensuring that Bucher Emhart Glass remains a leader in the industry through innovation and superior service delivery.” Reto Semadeni, CFO at Bucher Emhart Glass

“Since our IFS implementation 2 years ago, we have been able to reduce kilometers per day per technician, giving technicians more time to focus on repairing devices instead of driving around, also reducing our fuel costs.” – Jelle Coppens, Business Process Expert, Service Operations, Electrolux Group BeNeLux

“Building ropeways is a complicated and complex process. Over the last 15 years, IFS has become the digital backbone behind all our business processes worldwide.” – Andreas Huber, Head of Digitization & IT, Doppelmayr

Statistics

• 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: 6,000+


• Number of countries with offices: 50+


• Number of customers: 10,000+


• 310 million passengers a year fly safely thanks to aircraft maintained by IFS


• 200 billion packages a year are sustainably produced and distributed by the world’s leading manufacturers using IFS


• 8 out of 10 of the US’s top energy companies use IFS to power the country


• IFS used 100% renewable electricity across its operations in 2023

Financial and Operational Highlights for FY 2023, growth YoY:

• FY2023 software revenue was EUR 853m, an increase of 33 percent versus 2022.


• FY2023 recurring revenue was EUR 810m, an increase of 35 percent versus 2022.


• FY2023 net revenue was EUR 1.062m, an increase of 30 percent versus 2022.


• FY2023 annual recuring revenue (ARR) up 26 percent Year on Year.

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. 

IFS Video

Key Executives

Mark Moffat, CEO, is recognized as a visionary leader with a passion for delivering high-quality outcomes for customers and IFS. Mark has a reputation for driving transformation and change by leading from the front. Moffat’s down to earth style is balanced by a relentless work ethic. He stays closely connected with staff at all levels of the business and dedicates 50% of his time to engaging with customers.

Dr. Matthias Heiden, Chief Financial Officer, is known for transforming financial organizations and delivering strategic insights. He has been instrumental in transitioning industry giants like SAP and Software AG to subscription-based business models, demonstrating his ability to drive significant change and foster company growth.

Kate Bishop, Chief Human Resources Officer, focuses on future-oriented HR strategies that support the strategic direction of IFS. Kate has been instrumental in diversifying IFS’s talent pool and driving initiatives in Diversity, Equity, and Inclusion (DE&I).

Cathie Hall, Chief Customer Officer, is passionate about the customer experience and has transformed IFS with their Total Experience Vision. Cathie is known for challenging the status quo and driving productization and automation in customer experience.

Christian Pedersen, Chief Product Officer, ensures that IFS designs and builds industry-leading functionality, leveraging artificial intelligence to drive business innovation and efficiency. His leadership in AI strategy and implementation helps organizations harness the full potential of AI, delivering significant value and competitive advantage.

Simon Niesler, Chief Revenue Officer, has driven significant revenue growth and expanded IFS’s company’s global market share. His ambition and customer-centric approach have led to enhanced sales performance, stronger customer relationships, and a robust pipeline of new business opportunities. 

Sophie Graham, Chief Sustainability Officer, oversees the successful delivery of IFS’s sustainability strategy. With a deep passion for using technology to drive positive change across industries, Sophie is dedicated to harnessing tech for good. Graham’s lifelong commitment to sustainable practices and focus on innovative solutions ensures that IFS continues to lead in environmental responsibility and corporate social impact.  

Max Roberts, Chief Operating Officer, leverages his extensive background in strategic development and operational management to drive the company’s growth. With a track record of success in developing innovative product and service portfolios, he focuses on forging key alliances and partnerships. Roberts works closely with the executive leadership teams to ensure consistent performance and solidify the company’s growth trajectory.

Oliver Pilgerstorfer, Chief Marketing Officer, is responsible for IFS’s global marketing strategy. Oliver has a unique blend of entrepreneurial and corporate experience within the technology sector and a proven track record of driving growth and helping businesses scale. His expertise in strategic marketing and his innovative approach have been instrumental in enhancing IFS’s global presence and market influence as an Industrial AI Leader.

Bianca Nobilo, Chief External Affairs Officer, leads IFS’s external, media, government and industry relations. A former news anchor and multiplatform correspondent for CNN, Bianca is dedicated to harnessing IFS’s industry depth and AI expertise to democratize and responsibly support AI transformation across industry and the wider world.

Investors

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 nineteen companies. Copperleaf Technologies was their most recent acquisition on August 29, 2024.

EQT is a purpose-driven global investment organization with EUR 73.4 billion in assets under management across 28 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 550 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong.

Hg is a platform for software and services champions, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $40 billion, with an investment team of over 160 professionals, plus a portfolio team of almost 50 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 40 software and technology businesses, worth over $100 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year.

Key Milestones

• In February, IFS marked the 25th anniversary of its operations in Sri Lanka.


• In March, In the United States, IFS launched a collaboration with the Big Ten Conference, a pre-cursor to the strategic partnership launched in late 2023.


• In May, IFS released it latest sustainability report, a detailed account of IFS’s approach, priorities, targets, and initiatives across environmental, social and governance (ESG) topics.


• In May, IFS launched the first of its twice-yearly IFS Cloud releases in 2023, with updates enabling customers to enhance business agility and build resilience.


• In May, June and October, IFS held 9 global IFS Connect events with over 3,000 local prospects, customers, and partners in attendance.


• In June, IFS acquired Poka, the market-leading Quebec-based provider of a connected worker platform.


• In October IFS added extra capabilities to https://www.ifs.com/ifs-ai.


• In November, IFS launched the second of its twice-yearly IFS Cloud releases.


• IFS began several landmark brand partnerships, including a strategic partnership with AJ Foyt in June and was named the first-ever official technology partner of the Big Ten Conference in October.


• Throughout 2023 IFS appointed several key executives across its global operations, including Matthias Heiden as CFO, Belinda Finch as CIO, Max Robberts as COO.

Additional highlights: 

• IFS added 243 new logos globally and across its core industries, including Mattr, NOTE AB, Havfram, Tele2 AB, Van Oord, TÜV NORD, Stannah Lifts, Enercare, My Dentist, and City of Tallahassee.


• The IFS partner Ecosystem delivered some equally strong results with a 10% growth YoY in partner contribution to 41%. The impact was seen in our Net New business as well as in pipeline growth and the number of deals closed by partners with North America and APJ, ME&A regions leading across multiple KPI’s.


• IFS is also extending its partnerships with Global System Integrators with a particular focus on strategic markets: Accenture for Utilities & Resources, Telco, Arcwide for Manufacturing, Services, Construction & Engineering, Capgemini for Construction & Engineering, Manufacturing, Energy, Utilities & Resources, and PwC for Energy, Utilities & Resources, Construction & Engineering

IFS extended its leader status in several core areas: 

• IFS named a 2024 Gartner Peer Insights Customers’ Choice in the Voice of the Customer for Cloud ERP for product-centric enterprises 


• IFS is recognized by Ecovadis and awarded a Silver Medal, November 2023 


• IDC MarketScape: Worldwide Field Service Management Solutions, 2023-2024 – IFS a Leader 


• IDC MarketScape: Worldwide Service Life-Cycle Management Platforms 2023–2024 – IFS a Leader 


• Gartner Voice of the Customer for Cloud ERP for Product-Centric Enterprises – IFS a Customers’ Choice 


• IDC MarketScape: Worldwide Field Service Management Solutions for Utilities, 2023-2024 – IFS a Leader 


• IDC MarketScape:  Worldwide Service Parts Planning Applications, 2023 – IFS a Leader 


• Nucleus Research Enterprise ERP Value Matrix – IFS a Leader   

IFS has collected the following awards: 

• Business Intelligence Awards: Sustainability Winner, March 2023. 


• Business Intelligence Awards: Artificial Intelligence Award Winner, March 2023. 


• HotTopics 100 CMOs: Oliver Pilgerstorfer, March 2023. 


• Eventex Conference Award: Unleashed, May 2023. 


• Eventex B2B Event Winner: Unleashed, May 2023. 


• The Software Report: Top Software Company 2023, August 2023. 


• ERP Today Awards Outstanding Leadership: Mark Moffat, September 2023. 


• Future Enterprise Awards: Best Cloud Enterprise Software, October 2023. 


• ICT Leadership Awards: Enterprise Software Vendor of the Year, October 2023. 


• Boomi’s 2023 EMEA Partner of the Year Award Winner, November 2023. 


• Ecovadis: ESG/CSR Silver Medal, November 2023. 


• Construction Computing Awards: Best Asset Management Software, November 2023. 

News and Press Releases

• January 2024: IFS reports industry leading results with 33% software revenue growth for 2023 (Read) 


• January 2024: IFS becomes a Patron of MIT Center for Information Systems Research (CISR) (Read) 


• January 2024: Mark Moffat Appointed as CEO of IFS (Read) 


• November 2023: IFS Cloud November Release reinforces AI capabilities across automation and optimization with IFS.ai (Read) 


• November 2023: IFS Named First-Ever Official Technology Partner of Big Ten Conference (Read) 


• October 2023: IFS delivers strong Q3 2023 results thanks to increased demand for AI (Read) 


• October 2023: Maritime giant chooses IFS to drive digital transformation and operational efficiency (Read) 


• September 2023: US water treatment leader chooses IFS to drive efficiencies from depot to the doorstep (Read) 


• July 2023: IFS delivers 38% YoY revenue growth with sharp rise in demand for its AI capabilities (Read) 


• 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 2023: IFS added more than 250 new logos for its core industries (Read)

Competitors

• SAP


• ServiceNow


• Salesforce


• Oracle


• Microsoft


• Infor

Corporate Responsibility

At IFS, the organization’s vision for sustainability centers on transforming and improving industries and individual lives through technology. The sustainability strategy aligns with this mission and is structured around three primary pillars: ‘Excellence in Our Business,’ ‘Supporting Our Customers,’ and ‘Making a Broader Impact.’ IFS tracks initiatives in these areas using KPIs, which include metrics such as sustainable supplier policies, the percentage of female managers, volunteering targets, and climate goals.

The governance of sustainability at IFS is overseen by a quarterly ESG SteerCo, chaired by the Chief Sustainability Officer. In 2023, the company introduced a network of internal Sustainability Business Partners (SBP), selected by the C-suite to act as ESG representatives for their respective functions and geographies. A key objective of this network is to enhance the integration of sustainability into the overall business strategy, embedding it into the organization’s business-as-usual (BAU) processes. Within this framework, IFS maintains a robust climate strategy, focused on decarbonizing its operations and value chain.