The Sweden-based operation did not give cloud revenue totals but said software revenue for the most recently ended year was about $610.6 million, a rise of 26 percent. CFO Constance Minc said it was the third straight year of double-digit growth for the ERP software maker. Recurring revenue of roughly $489 million was 43-percent higher than in 2019. IFS also reported service license revenue was up 105 percent while aerospace and defense license revenue grew 37 percent. No revenue figures were provided for those categories. IFS said partners participated in 30 percent of implementations while the partner base rose by 28 percent.
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IFS REVS CLIMB 14 PERCENT Featured
A 60-percent rise in cloud revenue for IFS drove overall sales up 14 percent for the year ended December 31. A sister company to Acumatica, IFS reported 2020 revenue of approximately $864.7 million.
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