IFS reports industry leading results with 33% software revenue growth for 2023

IFS reports industry leading results with 33% software revenue growth for 2023

Cloud revenue up 46% YoY as new and existing customers move to IFS cloud.

Dubai, United Arab Emirates – IFS, the global cloud enterprise software company, today announced its financial results for the full year ending December 31, 2023.The company posted exceptional results with software revenue growth at 33 percent year-on-year and cloud revenue up 46 percent as new and existing customers accelerate the move to IFS Cloud, a market leading single cloud platform, allowing customers to access the latest Industrial AI capabilities most critical to our focus industries. IFS is consistently recognized internationally as a market leader in FSM, EAM, ERP and ESM.

2023 continued to see the unfolding of unpredictable economical and geo-political disruption. Despite this, IFS’s strategy to stay focused on its core industries and to extend its Industrial AI capabilities with IFS.ai, have yielded very strong results in all regions, leading to another year of strong double-digit revenue growth for the company. The results which continue to outperform the market point to the company’s agility, scale, and ability to execute globally for its customers.

IFS’s product innovation in IFS Cloud and the inherent IFS.ai capabilities are in demand from existing customers and has attracted a large number of new