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
IFS is a well-established, prominent ERP software vendor. Though headquartered in Linkoping, Sweden, it has found global success with North America being one of its most prominent markets. IFS’s industry-specific solutions, especially in asset-intensive verticals, make it a viable option in the ERP market and have established it alongside other prominent ERP vendors. Its ERP cloud strategy and channel partnership model are key differentiators as it continues to focus on expanding its presence and customer base throughout North America.
IFS is privately owned by EQT, the same private equity group that owns Acumatica. IFS is governed by its Executive Management Team which 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. Its 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 offers a unified platform, IFS Cloud, which offers customers the ERP functionality they expect, alongside EAM and FSM capabilities, driving visibility across an entire organization. The cloud solution is composable allowing customers to select capabilities for their specific industry needs. 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 customizations.
It is particularly well-known for its Field Service Management solutions, including ERP functionality for automating processes for field workers, salespeople, accounting, inventory, and equipment maintenance. For field workers that 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 Service 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’s solutions.
IFS’s Enterprise Resource Planning is a prominent solution within the manufacturing industry. By offering deep industry expertise and specific industry functionalities from design integration through supply chain management, IFS offers its customers support throughout the entire product lifecycle. IFS Cloud provides the control and flexibility to manage the production process across multi-manufacturing modes, from discrete to process. Outside of the core capabilities, IFS also brings CRM, Quality, HR, Finance, Document Management, and Globalization, which are often missing in manufacturing solutions, to the table.
In addition, IFS’s 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’s core differentiators, is traditionally a major requirement for process manufacturers, mining, energy, and other industrial asset-intensive clients.
Alongside Field Service Management, Enterprise Resource Planning, and Enterprise Asset Management, IFS offers fully integrated modules that automate Financials and Human Resources/Payroll core processes.
What Kind of Partnership Ecosystem Does IFS Have?
IFS’s 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.
Its service partners within the partnership ecosystem help clients quickly realize their return on investment by providing implementation and continuing support. These partners aim 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 functionalities such as supporting equipment, maintenance, services, jobs, and time tracking that work together across one unified platform with Accounting and HR/Payroll. Its industry expertise in Aerospace & Defense, Energy, Utilities, & Resources, Construction & Engineering, Service, 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 ideal for many organizations, especially those with less technical users.
Conclusion
As IFS continues to expand into the North American market, users can expect continued innovation and industry-specific solutions, especially within its five core 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.