IFS signs contract with project-based maritime manufacturer

IFS, the global enterprise applications company, today announces that a Norwegian manufacturer within the maritime industry has chosen to implement a project-based solution from IFS. The contract includes software licenses and services and has a total value of NKr 11.5 million.

The company has opted for IFS technology to optimize efficiency and minimize risk in its project-based manufacturing operations. The implementation will commence in November 2011 and is expected to be complete in August 2012. The project-based industry is one of IFS’s targeted horizontal markets. IFS offers a complete project lifecycle management solution that enables businesses to manage project-related costs, timelines, resources, cash flows, and risks. The integrated nature of IFS’s Project-Based Solution (PBS) facilitates real-time information at any stage of the project, enabling proactive problem-solving and reducing the need for error-prone manual entries. IFS’s PBS offering includes functionality for project management, contract management, risk management, budgeting and forecasting, engineering and material management, and asset data management—all integrated with financials and human resources.

The project-based market includes such IFS target industries as aerospace and defense, EPCI contracting, oil and gas, energy and utilities, construction, service management, and project-based manufacturing. IFS customers include Grenland Group, Babcock Engineering Services, Heerema Fabrication Group, TLT Babcock, Damen Shipyards, Horizon, Contiga, STX, Ultra Electronics, Austal, Archer, Doppelmayr, Smit, and FEV.

IFS is a public company (XSTO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a component-based extended ERP suite built on SOA technology. IFS focuses on industries where any of four core processes are strategic: service & asset management, manufacturing, supply chain and projects. The company has 2,000 customers and is present in some 60 countries with 2,700 employees in total. Net revenue in 2010 was SKr 2.6 billion.

IFS discloses the information provided herein pursuant to the Financial Instruments Trading Act (1991:980) and/or the Securities Markets Act (2007:528). The information was submitted for publication on November 7, 2011 at 5:00 p.m. (CEST).