IFS reports strong H1 financial results: for the first time >50% of total revenue came from Field Service solutions
Today, IFS, the international enterprise applications company, reported its financial results for the first half of 2020 that ended June 30, 2020.
The results confirm IFSs business strategy, which delivered a 26% growth in software revenue.
Amid the most unpredictable market situations in modern history, IFS displayed excellent flexibility.
The company took prompt action to adapt its business operations to guard its employees, serve its customers with the best solutions in the market and draw new brands to its roster.
IFS, including Alfa Laval, Amentum, BRITA, Carlsberg and Panasonic.
These businesses are among the increasing majority of companies that understand the urgency to transform leveraging services digitally.
IFS Chief Executive Officer Darren Roos commented, Our focus remains on delivering value to our customers and never before has this mission been more critical to their survival.
Our close collaboration with our partners has ensured we remain relevant, which is reflected in our results.
Our recent announcement about EQT and TA Associates ownership is a real endorsement of our strategy and our enormous potential to continue to capture market share.
IFS Chief Financial Officer, Constance Minc added, Our net revenue growth of 16% and combined with our ongoing margin expansion highlights the quality of the business.
We see recurring revenue is now at 80% of the entire software revenues.
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