IFS results show strong growth
IFS has announced double digit growth in every region and line-of-business during every quarter of 2019 in its full year financial results.
IFS reported a 20 percent increase in net revenue to $668m, saw its field service management business grow by 51 percent and its aerospace and defence business expand by 38 percent year on year.
During 2019 IFS added many global brands to its ranks, including SPIE, Rolls Royce, Tietex, Revima, Resolute Mining, Primo and Cryostar. The company also joined forces with PTC for product innovation, Acumatica for channel innovation and completed the acquisition of Astea International.
Appetite for IFS’s cloud offerings continue to grow with revenues for cloud and SaaS increasing 56 percent year on year (excluding Astea and WorkWave).
“Our employees clearly understand our focus, feel ownership of our progress, and stand united in a passion for our customers. Our differentiator is not that we talk about customer centricity, but that we commit to delivering customer value,” said Darren Roos, IFS CEO. “The investments made last year into our product and partner enablement will benefit the company in the long-term and will have a positive impact for our customers – and our own business – in 2020 and beyond.”