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IFS REVS RISE 28 PERCENT Featured

 Revenue for ERP software reached about $823 million for the year ended December 31. That was up 19 percent year-over-year for the Sweden and London, England-based vendor.

The company this week said cloud revenue growth jumped by 80 percent with both new customers and existing customers subscribing to IFS Cloud., which was introduced late in 2021. Software revenue grew 28-percent to roughly $647 million. IFS said this was the fifth-straight year of double-digit revenue growth. The company noted that year marked the launch of the new partner program, Partner Success, in the first quarter and a March investment of undisclosed size by HG Capital, which became “a significant minority investor”. IFS’ partner system grew by 65 percent with participation in more than 50 percent of implementation.

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