IFS
IFS AB (ifs.com) is headquartered in Linköping, Sweden. Founded in 1983, the company in 2020 generated $826 million in annual revenue. IFS has more than 4,000 employees and 10,000 customers worldwide. IFS’s products are known for being user-friendly, modular in their design and flexible enough to support the customers in their way of working according to their established processes.
Know more about IFS and its software.
Product Capabilities
Asset Lifecycle Management
Enterprise Asset Management
Enterprise Resource Planning (ERP)
Enterprise Service Management
Field Service Management
Finance
Human Capital Management
Manufacturing
Mobile Workforce Management
Procurement
Project Management
Service Management
Workforce Scheduling & Planning
Target Industries
Aerospace & Defense
Food and Beverage
High Technology
Office Equipment
Industrial Equipment
Automotive
Chemicals
Discrete Manufacturing
Life Sciences
Strategy
IFS touts its focus on specific industries, which includes manufacturing, aerospace & defense and construction. When it comes to sales, the company deploys a hybrid model. Its direct sales team services customers over $150 million in annual revenue, and resellers and system integrators service the under-$150 million customer base.
Ultra Insight
From Industrial Equipment Manufacturing ERP Vendor Update (2021) DOWNLOAD
IFS supports all manufacturing variants, from simple make-to-stock to more complex make-to-order and highly complex configure-to-order and engineer to-order businesses. Manufacturers of complex industrial equipment and machinery with low- to high-volume/high complexity production are well-supported by IFS.
The typical IFS customer has between $250 million and $1 billion in annual sales, with 400 to 500 users, but the company is steadily moving toward customers with sales above $1 billion.
IFS considers the project-centric nature of its solution a differentiator, and that approach is what many engineer-to order businesses require. Most business planning and execution functions are tightly integrated with the project, enabling project management, material requirements planning and financials all to be performed within a single solution.
Another key feature is the ability to support complex product-costing calculations with “multi-layered overheads.” This capability often is required to calculate the cost for projects that sell into highly regulated markets, the field installation activity of prefabricated manufactured modules, and specific contracted service deliverables.
The service management functionality is viewed as a best-of-breed solution, and it is frequently integrated with other ERP systems for large corporate accounts. The system will track and maintain the as-designed, as-manufactured, as-delivered and as maintained bill-of-material, repairs, and other tracked activities for each serialized asset.
From Food & Beverage Manufacturing ERP Vendor Update (2020) DOWNLOAD
IFS Applications 10 is a functionally robust product that thrives in complex organizations in both process and discrete manufacturing.
While IFS does not have the name recognition of its competitors, it has seen significant growth in recent years, especially in the Americas.
IFS benefits from an experienced and tenured implementation team, and a customer base that is loyal to the organization and the product.
IFS has not been quick to move to the cloud, and still does not offer a multi-tenant deployment model, unlike many of its competitors.
IFS has shown recent signs of growing its partner ecosystem, which, due to its growth, will be a welcome change
