Year-to-date revenue growth of 33% YoY
IFS, the global cloud enterprise software company, recently announced its financial results for the year to date (YTD) ending 30 September 2023.
The company reported substantial YoY increases in annual recurring revenue (ARR) of 49 percent, cloud revenue of 54 percent, and software revenue of 37 percent, which represents an impressive 80 percent share of total revenue, according to a press communique.
The advanced industry capabilities, user experience, and value offered by IFS Cloud continue to attract new customers and motivate existing ones to extend their usage and leverage IFS technology to create outstanding Moments of Service for their customers.
Capabilities
This is compounded by IFS’s sustained investment in technology that is seeing capabilities for ESG and Artificial Intelligence (AI) drive demand. The macro interest and appetite for AI bodes well for IFS with its AI architecture, IFS.ai, that extends the value of AI across all its capabilities and throughout a customers’ businesses.
“IFS.ai is a continuation of our ambition to innovate and puts IFS in a leading position to democratize AI for all users. Our goal is to anticipate our customers’ needs and deliver when it matters to them, creating value at every step,” affirmed Darren Roos, CEO, IFS.
“We are outperforming the market but that we are achieving this robust mix without compromising on any other metrics; we are building on the strong performance of previous years delivering the value customers need,” noted Matthias Heiden, Chief Financial Officer, IFS.
