June 19, 2018 3:58 AM ET


Company Overview of Industrial and Financial Systems, IFS AB (publ)

Company Overview

Industrial and Financial Systems, IFS AB (publ) offers component-based business software developed using open standards and based on service-oriented architecture in Sweden and internationally. It provides IFS Applications, an application suite that delivers enterprise asset management, enterprise resource planning, enterprise project management, and supply chain management to demanding and global businesses. The company also offers Enterprise Resource Planning (ERP) software products, such as manufacturing ERP and project ERP software products; IFS service management software comprising full service lifecycle management, field service management, planning and scheduling optimization, enterp...

Teknikringen 5

Linköping,  583 30


Founded in 1983

3,724 Employees


46 1 34 60 36 00


46 1 34 60 40 01

Key Executives for Industrial and Financial Systems, IFS AB (publ)

Chief Executive Officer and President
Age: 64
Chief Financial Officer
Age: 54
Chief Executive Officer of IFS North America and President of IFS North America
Age: 55
Group Senior Vice President of Business Development
Age: 51
Managing Director of Middle East Africa & South Asia
Age: 63
Compensation as of Fiscal Year 2017.

Industrial and Financial Systems, IFS AB (publ) Key Developments

IFS Announces IFS Field Service Management 6

IFS previews major updates of its IFS Field Service Management™ (FSM) offering at the IFS World Conference in Atlanta. IFS Field Service Management 6 features a number of enhancements, including: New user experience (UX): With a completely reengineered, fully responsive front end, IFS FSM 6 will run on any browser and on any device at any time. The new UX features user-centric and intuitive action patterns as well as stunning graphic designs including high-resolution charts and diagrams. Major performance boost in IFS Planning & Scheduling Optimization™ (PSO): The IFS PSO component of IFS Field Service Management yields a 50% improvement in processing performance on Microsoft Azure. In addition, the maximum number of activities per standard Dynamic Scheduling Engine (DSE) for dynamic responsive processing has been significantly increased. Next-generation configurability: Written in an all-new scripting language that empowers customers to configure data fields, workflows, and user behavior, IFS FSM 6 eliminates the need for costly customizations, providing greater agility while evergreen service management capabilities ensure seamless updates. Key functional enhancements: Alongside these major new architectural changes, IFS FSM 6 introduces a multitude of significant new features and extensions to existing functionality in areas including increased scheduling optimization flexibility, warranty claims management, mobile synchronization, and UI improvements. Pay and deploy with even more flexibility: Customers can choose to deploy IFS FSM 6 as a true multi-tenant solution on the Microsoft Azure cloud, as a managed service in the cloud, or on-premise. This flexibility also offers customers choice in how they pay, from outright ownership to a monthly subscription.

IFS Launched IFS Applications 10

IFS launched IFS Applications 10, the new version of its enterprise applications suite at the IFS World Conference in Atlanta. Built to help customers capitalize on disruptive industry trends such as automation, connected devices (IoT), and servitization, the new version helps companies connect their business to a digital backbone. New to IFS Applications 10 are IFS Aurena: A browser-based user experience that offer users an intuitive interface. IFS Aurena employs a consumer-first design to drive employee engagement and productivity. Introduced first for business-to-business and casual users, IFS Aurena will continue to evolve at a high pace using IFS's concept for evergreen enterprise applications. AI/human-machine interaction: Drawing on artificial intelligence (AI) technology, IFS Applications 10 features the IFS Aurena Bot that empowers users to interact with the system via voice or textual input in an intuitive and efficient way. IFS Aurena Bot can be used by employees and managers to ask questions in natural language, as well as perform transactions such as registering absence or applying for leave. IFS Aurena Bot can be accessed from popular communications tools such as Skype, Skype for Business, and Facebook Messenger, as well as from within the IFS Aurena user experience. Service-centric capabilities: IFS Applications 10 includes major investments to support service-focused organizations, especially for manufacturers with service or aftermarket operations as well as service companies that need an integrated enterprise applications suite tailored to their business model. Among the major updates in this area are the ability to manage service work and contract quotations directly in the CRM module, enhanced support for multi-person and multi-occurrence work execution, continued investment in IFS Mobile Work Order, better management and visualization of resource demand and utilization, cost control and WIP accounting along with new capabilities to engage with customers across the service lifecycle and manage work outsourced to contractors. Demand-driven MRP (DDMRP): DDMRP is an extension of traditional MRP that helps companies deal with today's challenges caused by short product lifecycles, long lead times and high demand variability. By introducing strategic inventory buffers, companies can reduce lead times and become increasingly demand-driven instead of having to rely on uncertain forecasts. IFS's embedded solution has been validated and approved by the Demand Driven Institute, which demonstrates IFS's ability to offer cost-efficient implementations. Manufacturing functionality: The new version boasts major enhancements to support process manufacturing, including new and extended capabilities for traceability, quality management, recipe and formula management, batch balancing, rework, and trade management. The extended features empower manufacturers leverage digital transformation into increased efficiency. Enhancements for global business: To offer extended support for globalized businesses, IFS Applications 10 features a completely rebuilt engine for global tax management, more multi-company capabilities, as well as robust support for parallel ledgers. Modern and cloud-friendly APIs: Open micro-service organized APIs, built according to the latest RESTful principles and the OASIS oData standard, ensure easy integration of data and processes in IFS Applications with IoT and AI technologies, Microsoft Office365, and most other modern cloud technologies and SaaS solutions.

IFS Announces Executive Changes

IFS announced that it has hired Darren Roos as the Chief Executive Officer of IFS. The appointment is effective April 1, 2018 and aligns with the retirement of Alastair Sorbie at the end of first quarter of 2018. Most recently Roos was President of SAP's Cloud ERP business, and prior to that, significantly grew Software AG's international operations, which enabled the company to triple in size during his tenure.

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