LONDON, July 22, 2021 / PRNewswire / – IFS, the global cloud-based enterprise applications company, today announced its financial results for the first half of 2021. After a strong first quarter, the first half is proof that the company is performing successfully pursued its growth strategy and continued its transformation into a Cloud Software Provider focused on assets and services. As more companies recognize the benefits of cloud deployment and look to IFS to digitally transform and deliver their moments of service, all elements of the software revenue line have grown to double digits, thanks to a strong acceleration in cloud revenues (+ 79% year-on-year) and recurring revenues. revenue (+ 27% year-on-year).
The first half of the year was also marked by key milestones for IFS, including:
- The acquisition of Axios Systems expands IFS’s service management proposition to ITSM and ITOM to create the most compelling enterprise service management proposition on the market. Combined with IFS’s leadership in field service management, this confirms IFS’s ambition to consolidate itself as a market leader in the broader Service Cloud space.
- Launching IFS Cloud, IFS Cloud is built using the latest technologies including the most modern user experience in the industry, digital twins for improved performance, low code / no code development, containerization and composable architecture which are all essential to create value business agility.
- The global launch of IFS’s new branding with the Moment of Service sets IFS’s clear strategy to align its value proposition with servitization to enable organizations to deliver their Moment of Service.
IFS CEO, Darren roos, commented: “IFS is a technology-driven company whose sole objective is to make the latest technological advancements available to our customers in a way that quickly creates value, has a low total cost of ownership and is easy to consume and use. H1 is proof that our strategy of focusing on this and building agility into our product operations, so that customers can react to market quickly, is working. Roos continued, “Customers can see the difference in what IFS does, and that ensuring their success is the reason we do what we do. They also see that very few other vendors offer deployment flexibility, product depth, and powerful technology while shaping them around the customer experience. “Roos concluded,” Delivering our Moment of Service to our customers is a very real mission for IFS, and the sharp increase in cloud adoption is proof of that. ”
IFS Financial Director, Constance Minc, commented: “I think our performance in the first half of the year is proof of a solid and successful strategy. We are experiencing double-digit software revenue growth of 20% and our share of software revenue and recurring revenue continues to increase, improving predictability of future performance. “Minc added,” The upward trend in our performance is not only present in the last six months, but over the long term, as evidenced by the double-digit growth in LTM software revenue in the past. over the past 3.5 years.
Other financial highlights include:
- First-half software revenue was 2.6 billion Swedish kronor, an augmentation of 20% From year to year
- Recurring sales for the first half of the year were 2 billion Swedish kronor, an augmentation of 27% Year after year and representing more than 80% of software revenue
- Cloud revenue in the first half of the year grew 79% year-over-year, representing more than 39% of software revenue
- The proportion of license revenues from new net customers is 54% Of total
* Note: All figures are in Swedish kronor and expressed in constant currencies.
Adam gilbe, IFS Corporate Communication, IFS. Telephone: +44 (0) 1784 278222, [email protected]
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