IFS the global enterprise applications company, has announced its financial results for the full year ending December 31, 2018.
Driven by a double-digit increase in product revenue, net revenue growth soared to 23%, outperforming the projected market growth of 7%. Cloud and SaaS saw a revenue increase of a remarkable 300%.
A number of major transformation projects were carried out in 2018 with the expressed aim to facilitate global growth and ever-happier customers. Projects included harmonising customer service and support as IFS has continued to grow its footprint 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 & Defence product line.
These dramatic gains were ushered in following the appointment of IFS CEO Darren Roos in early 2018. To complete the company’s global leadership team, Roos recruited talent from some of the best-known technology brands including SAP, Oracle, Software AG and Hewlett Packard.
