The company was founded in 1983. In 1997, it decided to establish an R&D center here in Sri Lanka. Fast forward to today and the company has enjoyed massive growth. It’s a globally recognized leader in developing ERP, EAM and ESM applications. It’s offices here in Sri Lanka employ over 1,000 people across Colombo and Kandy. Needless to say, IFS is among the titans of the tech industry in Sri Lanka.
Recently, the company held a press conference to mark 21 years of operation in Sri Lanka. Commenting on this, Stephen Keys – IFS Regional President, APAC & Japan, Middle East & Africa, said, “Our 21-year presence in Sri Lanka is a testament to the success of our business model. We recognize the importance of Sri Lanka as a vital source of skills and knowledge to support our regional and global business.”
Thomas Säld – IFS Senior Vice President Research & Development, also shared that we host to the company’s largest R&D center. It’s where 60% of its products are developed and 80% of them are supported. IFS Applications 10 was an example of a recently developed product. Whereas IFS Labs is a unit inside the company explores new technologies and trends does much of its development here.
Additionally, 1100 of its 3500 global workforce is based here. As such, Thomas went on to say, “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.” The company has credited this success to the talent it finds here and its long partnership with local universities.
Ranil Rajapakse – Senior Vice President & Head of IFS World Operations in Sri Lanka said, “Being a knowledge-based company, the importance we place on our people, the great work culture, and the long and fruitful collaboration with local universities in building capacity and creating talent, have been key factors in our 21 years of success in Sri Lanka.” As we learned last year, the company invests heavily in its partnership with universities to create talent.
But how has the company performed financially? Shiraz Lye – Managing Director & VP Sales IFS South Asia, commenting on its South Asian operations, said, “We had a fantastic double-digit growth for Q3 2018, recording an impressive 44% overall revenue growth with license up by 53% compared to last year. Maintenance revenue grew 13%, indicating more of our customers are on boarding the Annual Maintenance Contract plan.”
The company is looking towards becoming more agile to support its growth across Asia. The importance of Sri Lanka to help it achieve that can by Thomas’ words, “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 that without our operations here in Sri Lanka.”