IFS is in more than 50 countries worldwide with 500+ partners and thousands of customers. They aim to help companies engage customers, empower employees, and optimize assets, especially through their newer cloud offerings. Take advantage of this episode of The ERP Advisor where we will provide an inclusive outline of IFS.
IFS is a well-established, prominent European-based ERP software vendor. They are leveraging their global success to expand their customer base in the US. IFS’ industry-specific solutions, especially in asset-intensive verticals, make them a viable option in the ERP market and establish themselves alongside other prominent ERP vendors. Their cloud strategy and channel partnership model will provide a basis for continuing their expansion throughout the United States.
IFS is privately owned by EQT, the same private equity group that owns Acumatica. IFS is headquartered in Linkoping, Sweden, and governed by their Executive Management Team that is divided into four main regions of focus: Southern & Western Europe, Northern & Central Europe, the Americas, and APJME&A (Asia-Pacific Japan, Middle East, and Africa).
Founded in 1983, the company currently employs over 4,500 employees across more than 50 countries. Their partner network is comprised of over 500 companies that serve thousands of customers worldwide. IFS garners just under a billion dollars a year in revenue.
What Does IFS Sell?
IFS is well-known for its Field Services Management solutions which include ERP functionality for automating processes for field workers, salespeople, accounting, inventory, and equipment maintenance. Field workers need to track their time per job, code it to a contract or warranty, account for parts consumed off their truck, and ensure accounting has all the correct information for sending an invoice to their customer. Additionally, Field Services companies need to adequately track, schedule, and dispatch their technical resources and vehicles for efficient routes that are timed correctly for the scheduled services or repairs. All these processes are automated through IFS’ solutions.
In addition, IFS’ offerings track the process complexities of maintaining heavy equipment that consumes parts, requires maintenance schedules, and uses for jobs. Enterprise Asset Management, one of IFS’ core differentiators, is traditionally a major requirement for process manufacturers, mining, energy, and other industrial clients.
Alongside Field Services Management and Enterprise Asset Management, IFS offers fully integrated modules that automate Financials and Human Resources/Payroll core processes.
Like many other ERP software vendors, IFS has focused significant resources on the development and advancement of their cloud platform, IFS Cloud. Its cloud solution improves data connectivity, scalability, and processing efficiency. IFS Cloud has out-of-the-box options in process automation and connection to external data and software and provides open APIs and low-code customization.
What Kind of Partnership Ecosystem Does IFS Have?
IFS’ partnership ecosystem expands across multiple verticals and geographies to partners that deliver solutions based on industry knowledge and experience. They have developed joint programs to incentivize partners to refer, resell, and co-sell activities, encouraging personal relationships and continued innovation.
IFS has commercial partners who sell their software licenses. This group includes Channel partners, Global System Integrators, and Regional System Integrators.
Their service partners within the partnership ecosystem help clients realize their return on investment quickly by providing implementation and continuing support. The goal for these partners is to make it easy for clients to implement complex information technology and assist in managing implementation services projects.
A major focus of IFS is to partner with technology vendors who provide greater innovation for their clients with the integration of best-of-breed modules with built-in feature-rich functionality.
Why Does IFS Win Over Their Competitors?
IFS wins over its competition by offering deep Enterprise Asset Management, Field Services, and key functionality supporting equipment, maintenance, services, jobs, and time tracking work together across one unified platform with Accounting and HR/Payroll. Its industry expertise in Aerospace & Defense, Energy, Utilities, & Resources, Construction & Engineering, and Manufacturing industries help it beat its competition, especially with those clients that require an enterprise-scale technology platform.
Its solutions have been categorized as user-friendly, making it an ideal solution for many organizations, especially those with less technical users.
As IFS continues to expand into the North American market, users can expect continued innovation and industry-specific solutions, especially within the Enterprise Asset Management, Field Services Management, and Manufacturing industries. Its friendly user interface makes its solutions stand out and is one of many reasons why its reach will continue to grow. Its IFS Cloud product will enable less-tech savvy industries to migrate to the cloud and thus reduce their overall IT costs over time.