IFS South Asia operations reports double-digit growth in 3Q | Daily News

IFS South Asia operations reports double-digit growth in 3Q

Shiraz Lye, Stephen Keys, Thomas Säld, Ranil Rajapaksa in Colombo.  Picture by Sudath Malaweera
Shiraz Lye, Stephen Keys, Thomas Säld, Ranil Rajapaksa in Colombo. Picture by Sudath Malaweera

IFScompany’s South Asia operations were impressive and had a fantastic double-digit growth for the third quarter 2018, recording an impressive 44% overall revenue growth with license up by 53% compared to last year.

“Maintenance revenue grew 13%, indicating more and more of our customers are on boarding the Annual Maintenance Contract (AMC) plan,” said Shiraz Lye, Managing Director and Vice President Sales, IFS South Asia at a media briefing at Galle Face Hotel, Colombo.

“Our growth rates are very impressive compared to similar companies in the country and some of our peers within the group.”

IFS, the global enterprise applications company, is proud to be celebrating 21 years of operations in Sri Lanka. Having initially established its presence in Sri Lanka in 1997, IFS now employs more than 1,100 employees who work from the company’s offices in Colombo and Kandy.

IFS counts over 120 of Sri Lanka’s top companies as customers of its enterprise software. These customers use IFS solutions to manufacture and distribute goods, maintain assets, and manage service-focused operations.

Stephen Keys, IFS Regional President, Asia-Pacific and Japan, Middle East and Africa, commenting on IFS from a global and regional perspective, said, “We recognize the importance of Sri Lanka as a vital source of skills and knowledge to support our regional and global businesses. We are committed to a number of corporate social responsibility programs in Sri Lanka, so we can give back to the community in which we operate. This has helped create a mutually beneficial partnership between our staff, our company, our customers and the community.”

Thomas Säld, IFS Senior Vice President Research and Development, speaking about IFS R&D and new product initiatives, said, “We develop, sell, implement and support world-leading solutions for customers who manufacture and distribute goods, maintain assets, and manage service-focused operations. We would not be able to do that without our operations here in Sri Lanka.”

“This is our largest site with more than 1,000 people where we do around 60% of the development and 80% of the support of our products. As an example, IFS Applications 10, which was launched earlier this year, has, to a large extent, been developed here in Sri Lanka.”

“IFS Labs, which is the unit within IFS that investigates new technology and trends, does almost all developments here in Sri Lanka as well. Right now, one focus for them are different aspects of artificial intelligence. So Sri Lanka is of vital importance to IFS and we are looking forward to increasing our investment in Sri Lanka even further over the coming years.”

Ranil Rajapakse, Senior Vice President and Head of IFS World Operations in Sri Lanka, said, “Apart from being the largest product research and development center for IFS, we have grown to become the hub for providing consulting and support services to our customers around the world.”

“With 1,100 of IFS’s global staff of 3,500 based in Sri Lanka, the Sri Lankan business is an integral part of the global IFS group, which is a testament to the great pool of talent we have.”


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