IFS, the global cloud enterprise applications company, announces that it has acquired Customerville.

Design-Driven Feedback™ technology provider, Customerville, is an award-winning feedback platform that elevates feedback and listening across the entire customer journey, blending technology, design, and behavioral science to emulate how people naturally share and respond to feedback.

The acquisition creates a uniquely strong proposition for IFS. IFS enables customers to orchestrate their customers, people and assets to deliver outstanding moments of service. In order to ensure these moments of service are indeed outstanding and critically, meeting customer expectations feedback is essential. By embedding the ability to gather the voice of the customer at the moment of service, IFS will enable companies to perfect these moments of service.

Customerville to be integrated into the IFS Cloud proposition helping IFS customers increase engagement, improve revenue and profitability, and drive product, service, and outcome innovation. 

IFS has a long-established relationship with Customerville with the tool deeply entrenched in its own VoC program. The customer sentiment analysis and the really unique view of the intelligence Customerville brings to IFS has played a significant part in how IFS has developed its services, how it developed IFS Cloud, and is continuing to shape its customer Life Cycle Experience program and culture.

The acquisition further cements IFS’s commitment to deliver the capabilities organizations need as they shift their business models away from selling products alone. As companies increasingly focus on design and innovation for service, they are asking for capabilities that helps them understand their customers and their needs better and maintain a dialogue over time. With the acquisition of Customerville, IFS is responding directly to this need.

Darren Roos, IFS CEO, commented: “Customerville is highly differentiated in its field because it is Design-Driven, unlike competitors that offer surveys in static and flat formats, Customerville transforms customer surveys into rich, interactive experiences elevating customer response rates by between 400% and 600%. Successful VoC programs are proven to increase revenue, reduce costs and create a customer centric culture”. Roos continued “Providing this capability to every IFS customer as part of IFS Cloud means empowering them to not only deliver products or services based on customer insights but to do so at the early design stage which creates significant business value.”

Max Israel, CEO of Customerville, commented: “Our goal at Customerville is to show companies they can own the narrative and go beyond emailing dry reports; this is a fundamental shift for companies looking to deepen their understanding of the customer journey and make smarter decisions. With IFS we saw a meeting of minds in the desire to create a mechanism that would enable businesses to embed surveys into their own customers’ journeys.” Israel added “IFS is committed to enabling customers to deliver amazing Moments of Service and we love the team’s passion for creating great experiences. Customerville fits right into that mindset and is a natural extension of IFS’s proposition and we look really forward to our joint successes”. 

Customerville surveys are beautifully designed, thoughtfully structured and aligned to the customer journey to create an engaging experience and provide insights decision makers can act upon. The value is not limited to customer engagement and can extend to create better engagement internally with stakeholders, people, managers, employees as well as throughout the ecosystem with partners, suppliers, and others that impact success.

With its main operations based out of Seattle, WA and in Valencia Spain, Customerville offers an advanced survey tool which transforms data into an interactive Design-Driven Feedback™ platform. The offering is designed to generate significantly higher engagement and response rates from customers and address the declining feedback rates resulting from the quarter of a trillion surveys sent out globally every year. Customerville has a comprehensive solution that integrates feedback collection, analysis, distribution, and action into a single, interconnected platform, to help understand and improve CX.

---

Further Reading:

• Read more about Digital Transformation @ www.fieldservicenews.com/digital-transformation
• Read more about IFS on Field Service News @ https://www.fieldservicenews.com/ifs
• Find out more about IFS @ www.ifs.com/
• Learn more about Customerville @ www.customerville.com
• Follow IFS on Twitter @ twitter.com/ifs

 

Jim Baston, President of BBA Consulting Group, continues his blog series on “supercharging” revenue generation through the field service team. In this new article, he discusses the importance of clearly communicate the service you are offering to your customers.

Last time, we spoke about the importance of the words that we use to describe the proactive efforts of our field team. This time we will consider how we explain what we are doing to our customers.

Can you imagine implementing a new service, making the necessary investments in tools, processes and training and then not telling anyone about it? If we’re not telling our customers about the proactive efforts of our field service teams and the service their efforts are providing, we’re effectively doing just that.

At a service conference that I spoke at recently, I asked the attendees to raise their hands if they either formally or informally encouraged their technicians to proactively recommend their services to their customers. Most of those service managers in the room raised their hands. I then asked them to keep their hands raised if they told their customers that they were engaging their technicians in this way. Not a single hand remained in the air. This result is entirely consistent with other discussions that I’ve had.

Asking ourselves whether we tell our customers about what our techs are doing is a good test for us. It gives us an insight into how we see the proactive efforts of our field service team. If we don’t tell our customers, why not? Is it possible that the reason is that, deep down, we don’t regard their efforts as a service activity but more of a sale? It’s hard to promote “selling” as a benefit to our customers.

In an earlier blog, we asked where the value was for the customer in a conversation that goes like this:

 

“Mr./Mrs. Customer, I want you to know that we’ve encouraged our technicians to look for opportunities for us to sell you more services so that we can get more money out of you.”

 

It’s hard to see any value in this statement, regardless of how noble our intentions or those of our field service team are.

In finding the right words to promote our techs’ efforts to our customers, the key is to keep in mind that we’re encouraging our technicians to use their expertise and proximity to look for opportunities to better serve our customers’ needs. Their recommendations therefore, are a valuable service.

Here is an example of how we could initiate the discussion with our customers. “Mr./Mrs. Customer, we’ve provided direction and training to our technicians to encourage them to look for opportunities to help you operate your facility/processes more effectively while they’re performing the service. Would you have any objection when they find something that will help you achieve your business goals, if they bring the opportunity to your attention?”

We can then position our techs’ efforts as a point of difference. We’re providing our customers our “heads” as well as our “hands”. When they recognize the value of these efforts and benefit from the resulting recommendations, they’ll be delighted that we’ve engaged our technicians in this way.

Next time we will consider the last item on our list – How we maintain our focus and efforts.

Reflection

Clearly articulate the conversation you will have to introduce the proactive efforts of your field team with your customers.

• What is this new service?
• Why is it of benefit to the customer?
• How does this differentiate you from all the other service providers?
• What can the customer expect?
• How will you measure your performance?

Using the same approach, how will you describe the service on your website or service brochure?

---

 

NEW! NOW TAKE THE COURSE!

Supercharging Revenue Generation through the Field Service Team!

In this course created and hosted by Jim Baston, President BBA Consulting Group Inc you will be given the tools to help you develop your own framework to implement a project within your organisation to help generate greater revenue from your field service team by shifting the perception of revenue generation away from being a sales activity to being an extension of service excellence.

This course is available to purchase for just £299. 

Alternatively, this course is available as part of the Field Service News Masterclass program included within an annual subscription to FSN Elite our new membership community. Currently, while we are in a beta trial of FSN Elite we are offering a free upgrade for all FSN Premium subscribers.

FSN Premium subscription costs just £299 a year (giving you a year's access to this course and others within the Masterclass program as well as access to weekly zoom discussion calls and our in-person event) 

---

 

 

 

 

---

Further Reading:

• Read more about Leadership and Strategy @ www.fieldservicenews.com/leadership-and-strategy
• Read more exclusive articles by Jim Baston @ www.fieldservicenews.com/jim-baston
• Connect with Jim Baston on LinkedIn @ linkedin.com/jimbaston
• Learn more about Jim Baston and BBA Consulting Group @ jimbaston.com
• Connect with Jim Baston directly by email @ jim@jimbaston.com

Businesses are missing out on a significant opportunity to use technology to fix internal processes and address the root causes of customer experience issues in the wake of the pandemic, research from enterprise software specialist IFS has today revealed.

The global study, which surveyed 1,700+ executives and 12,000+ consumers, shows that businesses understand software has a key role to play in consistently delivering positive outcomes, but that current approaches to customer experience do little more than wallpaper over the cracks, instead of identifying and addressing systemic problems in their operations.

Although businesses claim to pay close attention to customer service, the inflection points that occur throughout the lifecycle of their operations and encompass processes, technology solutions, and human coordination are even more important to a positive customer experience – but these are far too frequently overlooked. It is only with careful orchestration of these components that companies can deliver a quality ‘Moment of Service’, in which everything comes together to create a positive result for a customer.

29% of managers don’t take action on known operational issues, while 18% are too busy to report issues not considered urgent

This orchestration is only possible when the technological foundations are in place to provide visibility of these inflection points. Only then can businesses take the appropriate action to ensure they delight, and don’t disappoint, their customers. Indeed, some 85 percent of businesses said that their enterprise software helped them measure performance and act on issues at these inflection points to affect the end customer outcome.

However, IFS’s research also uncovered that while 79 percent of businesses have invested time and resources in identifying where these inflection points are, when problems are identified nearly a third of managers (29 percent) admitted to reporting them but not taking any action. Furthermore, some 18 percent revealed they were too busy to report issues unless urgent, while just 15 percent said they proactively look to preempt problems.

Despite the majority of companies (66 percent) investing upwards of $250,000 each year evaluating the customer experience through Net Promoter Scores, reviews, and customer satisfaction surveys, it is clear that unless they resolve these issues when they find them, customers are unlikely to see a meaningful change in their experience. Indeed, 82 percent of respondents were unable to recall a single positive example of a recent frictionless customer experience. This gap between understanding and acting is a business risk that few can afford.

For enterprises that fail at the moment of service, the ramifications are significant. A quarter of consumer respondents stated they would never engage with a brand again after just one bad experience, while over half (52 percent) would abandon a company after two to three. IFS also sought to examine the impact of negative experiences on wider brand perception and uncovered that 58 percent of consumers are very likely or somewhat likely to share their negative perceptions with their network, highlighting how easily a bad interaction can be amplified.

90% of businesses now reengineering operations to ensure better customer experiences

However, it’s not all doom and gloom. Over half (52 percent) of consumers are inclined to leave a positive review, underscoring just how much can be gained by focusing on delivering an exceptional customer experience.

To ensure they’re delivering the optimal customer experiences that breed this kind of advocacy, businesses need to rearchitect themselves to remove pain points and streamline operations, rather than trying to talk their way out of issues they walked themselves into. Investing in the right enterprise technology, that enables them to not only address current problems, but adapt to emerging conditions will be key to consistently delivering positive outcomes for customers and a powerful competitive differentiator for organizations.

“When it comes to delivering a positive customer experience, businesses have a limited opportunity to get it right. And if they neglect to assure every single inflection point, they are gambling with their outcomes,” IFS Chief Customer Officer Michael Ouissi said. “There are many points where you can either delight or disappoint a customer across the value chain and it is clear from these findings that consumers are willing to voice their opinions either way. As more and more businesses look to service provision as a key competitive differentiator, running the right enterprise software—engineered for the moment of service and which is able to orchestrate the multitude of people, assets and customers—will separate the winners from the losers.”

With 90 percent of businesses stating they have reengineered or are reengineering their business to ensure customer touchpoints and stages come together for better moments of service, it is vital that companies ensure processes are optimized across each of these inflection points to mitigate issues and fuel growth.

IFS believes a composable enterprise approach, which harnesses a combination of packaged functions and technologies to derive data-driven insight and deliver positive outcomes, will be key to delighting customers and creating competitive advantage, but businesses need to move quickly to seize this opportunity.

Download a copy of the report Fixing the fundamentals: Understanding new business models and opportunities in the wake of Covid-19.

---

Further Reading:

• Read more about Leadership and Strategy @ www.fieldservicenews.com/leadership-and-strategy
• Read more about IFS on Field Service News @ https://www.fieldservicenews.com/ifs
• Find out more about IFS @ www.ifs.com/
• Download a copy of the IFS Study @ www.ifs.com/sitecore/media-library/assets/fixing-the-fundamentals/
• Follow IFS on Twitter @ twitter.com/ifs

 

IFS, the global cloud enterprise applications company, announces that the Aston Martin Cognizant Formula One™ Team will use its enterprise resource planning (ERP) software to track costs, guide investment decisions and development choices, and evidence spend during competition accounting periods.

The IFS solution will play an important role in ensuring spend compliance with the stringent new Formula One cost cap audit requirements introduced this season by the Federation Internationale d’Automobilie’s (FIA).

The 2021 season sees a radical change in the way Formula One racing teams can spend funds to compete. New cost cap rules by the sport’s governing body, the FIA, limit how much a Formula One team can spend on enhancing the race car’s performance during a calendar year.

This year sees F1 teams starting with a cap of $145 million, gradually reducing to $135 million by 2023. The implications are far-reaching, especially for the finance operation of each team.

IFS SOFTWARE ENABLES ASTON MARTIN COGNIZANT FORMULA ONE TEAM TO OPTIMIZE OPERATIONS AND REPORT FINANCIAL COSTS TO FIA

Robert Yeowart, Aston Martin F1 Chief Financial Officer, is responsible for ensuring the business operates as efficiently and effectively as possible, and, with the cost cap, getting even more value from every pound spent. “The FIA can come and audit us at any time. They can scrutinize our accounts—examining everything we’ve spent, when and where. The new reporting requirements are demanding. Alongside the technical and competition compliance we’re used to, the body is looking for anomalies and trends to expose any team operating beyond the defined cost cap parameters. We have to be ready to supply the evidence and audit trails to support any inspection.”

Aston Martin F1 has implemented IFS to support its operations, financial reporting and production areas.

“IFS has given us the perfect platform to build on,” says Yeowart. “It enables us to really understand where we're spending our money by detailed cost analysis, which we couldn't do before. We can track our inventory and answer questions like ‘what parts do we have available to us?’ What state are they in? How many parts are in the building and how much does each cost?”

The IFS solution enables Aston Martin F1 to run “pound-for-lap-time” ratio analysis in its development projects. This means the organization can get, for the first time, an objective view of how much one upgrade might cost versus another, and the resulting performance improvement in lap time for each.

The FIA also requires teams to track inventory to ensure the cost of parts is not allocated to the wrong accounting year, including evidencing when parts are first used with a bar code tracking system. All the data needed will be fed through IFS. “We know exactly where our inventory is, when we first used a part, how many kilometers it's done, how much life it has left and when we need to be considering a spare or replacement,” says Yeowart. “Towards the end of the season all this is absolutely critical as we may have had accident damage and be up against the cap.”

As F1 racing evolves, Yeowart is clear about the importance of the system. “IFS can help my team meet the cost cap regulations through improving our planning, our data and our analytics. It helps us understand where we've spent our money so far, what we've left to spend against the cap and how we plan to spend it. It lets us analyze where we're adding performance on the car, and if that’s the best use of our capped resources. And it ensures that, when we report to the FIA, we are 100 percent sure that the information we provide is accurate and exactly what is required.”

At the end of 2022, Aston Martin F1 will also become the first team in 20 years to occupy a new, purpose-built factory. “Against a cost-cap environment, we have the perfect opportunity alongside our IFS system to really focus on efficiency, optimization and, ultimately our purpose: helping over 1,000 people to create, within regulated constraints and spends, the highest possible performance for our F1 competition cars,” concludes Yeowart.

As a strategic technology partner, IFS will empower Aston Martin Cognizant Formula One Team with its state-of-the-art tools to ensure operational excellence. The platform gives the team flexibility in this exciting new era with fresh investment from the shareholders and the construction of a new factory.

Oliver Pilgerstorfer, Chief Marketing Officer, IFS, added, “Effectively capturing and handling data is crucial for high-performing businesses like Aston Martin F1. The sport of Formula One is all about precision, which is relevant across the whole value chain, where hundreds if not thousands of separate processes need to be perfectly orchestrated to ensure success on race day—that’s the moment of service, when everything comes together. IFS is proud to empower many of the world’s most respected brands to operate at peak performance, often in highly regulated industries where compliance, traceability and quality assurance truly matter.”

Learn more about how IFS supports the Aston Martin Cognizant F1 Team at www.ifs.com/f1.

---

Further Reading:

• Read more about Digital Transformation @ www.fieldservicenews.com/digital-transformation
• Read more about IFS on Field Service News @ https://www.fieldservicenews.com/ifs
• Find out more about IFS @ www.ifs.com/
• Learn more about Aston Martin Cognizant Formula One @ www.astonmartin.com/en/our-world/amf1
• Follow IFS on Twitter @ twitter.com/ifs

 

Jim Baston, President of BBA Consulting Group, continues his blog series on “supercharging” revenue generation through the field service team. In this new article, he discusses the importance of evaluating the words we use within our organization to describe the technicians efforts to help the customer.

Talk the walk. Language is important. Our team will scrutinize what we say in an effort to understand what we mean. So, if we tell everyone that their proactive efforts is a valuable service but we talk about it as if it’s a sale, then our team will think that our service ideas were just for show. If the team feels that the proactive initiative is really a sales program in disguise, it’s unlikely that we’ll get enthusiastic participation from them. We might get lots of lip service, but no one is going to do the really uncomfortable bits like talking to the customer about an idea that they have. Leave that to the sales team.

Here is an example of what I mean by not “talking the walk”. We’ve introduced the initiative, everyone is excited and at a service meeting we decide to report on the efforts of someone on the team. We announce with some fanfare that: “As a result of this technician’s efforts, we have increased our sales to this customer by 10%. Way to go tech!” Hmmm, sounds like selling doesn’t it. Notice that the words view the benefits from the service company’s perspective. It’s focused on what the tech’s efforts have done for our company, not the service impact for the customer.

Please understand that I’m not suggesting that there’s anything inherently wrong in recognizing the tech’s efforts and saying those words, it’s just that by speaking about the tech’s accomplishment in this way we may do more to dampen enthusiasm around the initiative than to boost it.

Recognizing the tech’s efforts by “talking the walk”, starts with describing those efforts from how they impact the customer rather than our service company. For example, we could say: “As a result of this technician’s efforts, we’ve helped this customer lower their operating costs and reduce their risk of failure”. In other words, rather than talking about how the technician’s efforts helped us (sales), we’ve talked about how their efforts helped the customer (service).

It’s worth taking the time to evaluate the words we use on a regular basis to describe our techs’ proactive initiatives to help the customer. Do we use words like “sales”, “selling” and “cross selling” as part of our regular vocabulary? Do we talk about your techs’ efforts from how it impacts our business rather than our customers? This awareness will help us be more sensitive to what we say and help ensure that we talk about our techs’ efforts as the valuable service that it is.

Next time we will consider how we promote what we are doing to our customers.

Reflection

Over the course of the next week, listen carefully to and make a note of how people within your organization talk about the role of techs in business development.  How many times do they use the word “service”?  How many times do they use the word sales?”

Evaluate your own words. When talking about the results of the techs’ efforts, how do you describe it? Do you talk in terms of how those efforts benefit your company or how they benefit the customer?

Create a plan to raise awareness of how you and the rest of the management team speak about your techs’ proactive efforts and how you will change the talk to align more with the walk.

 

---

Further Reading:

• Read more about Leadership and Strategy @ www.fieldservicenews.com/leadership-and-strategy
• Read more exclusive articles by Jim Baston @ www.fieldservicenews.com/jim-baston
• Connect with Jim Baston on LinkedIn @ linkedin.com/jimbaston
• Learn more about Jim Baston and BBA Consulting Group @ jimbaston.com
• Connect with Jim Baston directly by email @ jim@jimbaston.com

IFS, the global cloud enterprise applications company, announces that it has concluded the acquisition of Axios Systems.

The transaction, which was initially announced in March 2021, combines two pioneers of the service management space: IFS, with its leadership in Field Service Management and Axios Systems, with its strength in IT Service Management (ITSM) and IT Operations  Management (ITOM). The combined IFS Enterprise Service Management proposition is unique in how it enables companies to orchestrate their value chain and optimize their workflows so they can not only deliver amazing moments of service to their customers, but also so they can maximize revenue creation opportunities and increase profitability.

IFS STRENGHTENS LEADERSHIP in service management with THE ADDITION OF AXIOS SYSTEMS' POWERFUL ITMS AND ITOM CAPABILITIES

Since the acquisition was announced, IFS is proud to have attracted many of the best leaders from the sector to bolster the already growing team at Axios Systems. Now under the framework of a dedicated Business Unit within IFS, the team are focused on delivering new product innovation, increased investment in customer experience, and a more focused, industry-led, go-to-market.

Martin Schirmer, President of the Enterprise Service Management Business Unit, commented, “Over the past two months I have met with many employees, customers and partners who I would like to thank for their openness and enthusiasm for what lies ahead. It’s clear to me that we have acquired a company with many assets and strengths, in a market that is evolving and in need for further disruption. With the investment we are committing as well as our customer-centric approach, I am confident that our current customer base will benefit, which will in turn help attract new customers, and we will further extend IFS’s dominance in the overall service management space.”

To learn more about IFS’s service management solutions, please visit: ifs.com/service. For more information on the Axios Systems best-of-breed proposition Assyst, please visit: ifs.com/assyst.

---

Further Reading:

 

• Read more about Digital Transformation @ www.fieldservicenews.com/digital-transformation
• Read more about IFS on Field Service News @ https://www.fieldservicenews.com/ifs
• Find out more about IFS @ www.ifs.com/
• Learn more about Axios Systems @ www.axiossystems.com/
• Follow IFS on Twitter @ twitter.com/ifs

 

In this sixth article from his blog series on “supercharging” revenue generation through the field service team, Jim Baston, President of BBA Consulting Group,discusses how to get buy-in from supporting divisions.

The third item in our list of steps to ensure our success is getting buy-in from supporting divisions. There are a lot of interdependencies associated in delivering a service. For example, in the process of recommending a product or service, we may rely on a sales team that reports to another division to follow up on the initial inquiry and provide the customer with detailed product information, payback evaluations and the final proposal. And, in delivering a product or service, we may depend on another group within our organization to provide a specific part of it.

This can work well if everyone is aligned, but, unfortunately, this is not always the case. Sometimes the other departments don’t have the same interest or excitement about the opportunity or the same relationship with the customer. When this is the case, they may not treat the customer or the opportunity with the level of care and urgency that you would expect. If this happens, the customer may become disappointed and the field team frustrated.

By recognizing this, we can take proactive steps to address any misalignment and prevent these types of problems from occurring. There are several things that we can do. For example, we can speak with the management of those groups to get their commitment and the commitment of their team to support our efforts in the manner required, and we can set up a system to address any problems relating to any misalignment quickly and efficiently. We can also take steps to personally address any problems early that cannot seem to be corrected in the normal way.

Next time we will consider how what we say and do as managers, can impact our success.

Reflection

Thinking about your service of making recommendations, what are some of the relationships that you depend upon to perform this at the highest levels? As you work through this exercise, consider any interdependencies in areas such as:

• Completing the proposal
• Presenting the recommendations
• Delivering the service
• Specific areas within the organization such as:
  • Sales
  • Projects
  • H.R.
  • I.T.

Under each identified interdependency, identify the specific proactive steps you can take to ensure complete and seamless alignment.

 

---

Further Reading:

• Read more about Leadership and Strategy @ www.fieldservicenews.com/leadership-and-strategy
• Read more exclusive articles by Jim Baston @ www.fieldservicenews.com/jim-baston
• Connect with Jim Baston on LinkedIn @ linkedin.com/jimbaston
• Learn more about Jim Baston and BBA Consulting Group @ jimbaston.com
• Connect with Jim Baston directly by email @ jim@jimbaston.com

IFS, the global enterprise applications company, announces that Jacqueline de Rojas has joined its Board as a non-executive director. Following three years of successive double-digit growth, the appointment of de Rojas adds strength and depth to the IFS Board, providing direction, governance, and support to management during this phase of expansion. The appointment is effective immediately and brings the current number of non-executive directors at IFS to five.

De Rojas is an experienced technology executive and industry thought leader. Through her various roles and appointments, she has helped the industry at large address the digital skills gap, deliver on diversity and inclusion, and ensure technology is accessible throughout all levels of society. Her work and commitment have been recognized by industry bodies and governments. She has also been awarded Commander of the British Empire (CBE) for services benefiting the technology sector related to international trade.

TENURED TECHNOLOGY EXECUTIVE AND PRESIDENT OF TECHUK TO SUPPORT IFS THROUGH THE NEXT PHASE OF GROWTH

Commenting on her appointment, de Rojas said, “As the global economy reboots following the Covid-19 pandemic, technology will play a crucial role in helping businesses to build back better and make up for lost ground. Throughout this crisis, we’ve seen the power of IT in action to deliver life-saving public services, swift vaccination rollouts and keep businesses operational.”

“IFS stands apart from its competitors by marrying the Company’s deep industry expertise with its ability to rapidly create business impact,” she continued. “The leadership team has a clear vision of how to empower its customers to deliver meaningful moments of service and value. I’m thrilled to be joining the diverse and ambitious team at IFS which is set to play a major role in the reshaping of industry business models as we enter a post-Covid economy.”

Darren Roos, CEO of IFS, said, “Jacqueline’s track record speaks for itself and she is a real ambassador for the things we care about as a business. Her experience and passion will be meaningful as IFS continues its transformation and growth trajectory. The expertise she brings will further enhance the board’s ability to support and oversee the delivery of our strategy.”

Jacqueline de Rojas CBE

De Rojas holds Board-level assignments for several leading global businesses: as Chair of Metapraxis; and as a Board director at Rightmove plc, FDM Group plc, Costain Group plc. She is also President of techUK, an advocate for diversity and inclusion, and a mentor at Merryck Group.

Prior to her current assignments, de Rojas had a 30-year career in enterprise software having held senior leadership positions in global tech businesses such as Citrix, CA Technologies, McAfee, Novell, and Business Objects.

For more information about the members of the IFS Board, please visit: https://www.ifs.com/corp/company/governance/

---

Further Reading:

• Read more about Leadership and Strategy @ www.fieldservicenews.com/leadership-and-strategy
• Find out more about IFS @ www.ifs.com/
• Read more about IFS on Field Service News @ https://www.fieldservicenews.com/ifs
• Learn more about the IFS Board @ www.ifs.com/corp/company/governance/
• Follow IFS on Twitter @ twitter.com/ifs

 

IFS, the global enterprise applications company, today announced its financial results for the first quarter—January to March of 2021. After a strong 2020, Q1 results point to a continuation of the growth trajectory across the entire business and specifically in recurring revenue, cloud revenue and service management revenue.

After a strong 2020, Q1 results point to a continuation of the growth trajectory across the entire business and specifically in recurring revenue, cloud revenue and service management revenue.

IFS’s position as the global vendor of choice for companies transforming their business models away from selling products towards selling services and outcomes is validated by its Q1 performance and the triple-digit growth of its service management business at 103 percent.

IFS’s Q1 hits significant markers with recurring revenue over 80% of software revenue, cloud revenue growth at 102% and representing over 50% of recurring revenue

Q1 also saw some key milestones for IFS, which included:

The launch of IFS Cloud, which was the most significant in the Company’s history. It brings IFS’s entire depth and breadth of functionality into a single platform. Deployable in a modular way, on-premises or in the cloud, it not only supports a composable enterprise but with digital innovation natively part of the product, it also accelerates digital transformation. 

The acquisition of Axios Systems extends the Company’s enterprise service management proposition with IT Service Management (ITSM) and IT Operations Management (ITOM) functionality and creates new opportunities for IFS and Axios customers alike. The combination of IFS and Axios Systems is instrumental in extending IFS’s ambition to cement itself as the market leader in the service space.

The global launch of IFS’s Moment of Service positioning and new branding took place in February. This set out IFS’s clear strategy to align its value proposition to servitization and become the default vendor for organizations who want to be their best when it matters to their customers—at the Moment of Service. 

IFS CEO Darren Roos commented, “The launch of IFS Cloud in Q1 was the most important launch in company history. It was a milestone that delivers on our promise of helping customers create truly amazing moments of service. The impressive performance and growth of our cloud and service management business is evidence that customers value that we understand their needs and are delivering products that support their journey.” He added, “In addition to our organic growth, we are strengthening our proposition with the addition of Axios Systems to ensure we remain the de facto leader for companies that want to differentiate in how they deliver and profit from service.”

IFS Chief Financial Officer, Constance Minc, added, “I believe Q1 is representative of the recognition IFS is getting in the cloud software market. By continuing to deliver double-digit recurring revenue growth at 24 percent we are showing a consistent upward trend in our performance and in the quality of our revenue mix. With our cloud software revenue now representing 40 percent of our total software revenues and 50 percent of recurring revenue, IFS is hitting some very significant milestones.”

Other financial highlights:

• Q1 software revenue was SEK 1.2 billion, an increase of 13 percent Year on Year
• Q1 recurring revenue was SEK 1.0 billion, an increase of 24 percent Year on Year and representing more than 80 percent of software revenue
• Q1 cloud revenue increased 102 percent Year on Year representing more than 40 percent of software revenue (cloud revenue defined as all revenue streams associated with a cloud deployment deal)
• Proportion of license revenues from new customers up to 57 percent.

* Note: all figures based in Swedish Krona and reported in constant currency. Service management revenue growth normalized for one large deal in Q1 2020.

Learn more at www.ifs.com/corp/company/financial-results/.

---

Further Reading:

• Read more about Leadership and Strategy @ www.fieldservicenews.com/leadership-and-strategy
• Find out more about IFS @ www.ifs.com/
• Read more about IFS on Field Service News @ https://www.fieldservicenews.com/ifs
• Learn more about IFS Q1 Financial Results @ www.ifs.com/financial-results/
• Follow IFS on Twitter @ twitter.com/ifs