IFS net revenue soars beyond $ 600 m mark | Sunday Observer

IFS net revenue soars beyond $ 600 m mark

Global CEO of IFS, Darren Roos
Global CEO of IFS, Darren Roos

Global software firm IFS has closed the 2018 fiscal year with record-making growth which outpaced its peers by a factor of three.

The company recorded that Net Revenue was up 23% YoY. Cloud and SaaS Revenue, Licence revenue, Maintenance Revenue, and Consulting Revenue. and EBITDA all increased over the 2018 figures.

IFS Projects include harmonising customer service and support,in the medium-to-large enterprise segments. 2018 also saw the launch of key products, including IFS Applications 10, IFS Field Service Management 6, and SaaS-based solutions in the IFS Aerospace and Defence product line.

Global CEO of IFS, Darren Roos said, “Building on the momentum created in 2018, we enter 2019 with a renewed sense of purpose and a future guided by our customers.” IFS has always invested significant resources in R&D. One example of this is IFS Labs. 80% of the Labs team is based in Sri Lanka and the technologies that this department is developing include wearables, augmented reality, bots, drones, robotic process automation and artificial intelligence.

IFS has also reinforced its proven expertise through regional expansion projects. The Asia Pacific, Japan, Middle East, and Africa division market unit is expected to be one of the key sources of growth. Chief Analyst Phillip Carter said, ‘The Sri Lankan and South Asian operation will be a significant contributor’.

The company has focused on education throughout its deep-rooted relationship with Sri Lanka. Collectively, IFS has awarded over 130 142 scholarships and more than 750 internships over the past few decades through university collaboration programs. It has also offered support to communities.