High Five: IFS Sees Double-Digits for Fifth Consecutive Year

Stephanie Ball, Chief Staff Writer for ERP Today, presents the details of IFS, the rising leader in global cloud enterprise applications, and its financial results for the full year ending 31 December 2022.

Software revenue growth for the firm rose by 28 percent year-on-year to SEK 6.6bn. Cloud revenue growth was up 80 percent as existing and new customers switched to IFS Cloud, accelerated with the launch of Arcwide in April last year.

Annual recurring revenue was up 57 percent year-on-year, with the rise driven by bookings from new customers. Net revenue was 8.4bn, representing a 19 percent increase on 2021 figures.

Read the full article from ERP Today here.