IFS Expands regional office in Singapore: Global EBITA doubles in H1 2019, Revenue guidance up 21% to 711M USD
New IFS management's partner-focus strategy and "Challenger" value proposition accelerates IFS performance within a year, outperforming the global plan to be a 1Bn USD revenue company in 3 years. Singapore's IFS regional headquarter poised to achieve highest growth, relocating to Suntec Tower 2 with 25% headcount increment across APJMEA and new senior management appointments to capture market share in Singapore.
On 6 March 2019, IFS moved to Suntec Tower 2 (#27-02) on 9 Temasek Boulevard after a record-breaking year led by new CEO Darren Roos and Regional President for APJMEA Stephen Keys. The relocation facilitates expanding resource requirements to address opportunities across the region including additional 10% headcount growth expected in 2020. The office previously operated in Fuji Xerox Building for close to 10 years.
Whilst IFS has been in Singapore since 2000, the EQT-owned Enterprise Solution company for medium to large enterprises achieved 85% YOY growth in EBITA for H1 2019, revising its year-end earnings to grow up to 21% at 711M USD. The company is currently outperforming its projected annual revenue plans to achieve 1Bn USD revenue in 3 years.
"Despite Singapore's seemingly smaller market base, most of Asia Pacific's key accounts regional HQ are based here. We see large corporations with over 1Bn USD annual turnover reaching out to IFS as the superior alternative to established Enterprise Solutions," said Wesley Kowalski, the newly appointed Vice-President of ASEAN, Chinaand India. Prior to joining IFS, Wesley had over 22 years of experience working in leadership sales roles in Oracle, IBM and Infor.
"IFS not only offer better net returns over investment with a superior product designed together with industry experts, the solution is future-ready and flexible for dynamic global enterprises in Singapore or ASEAN allowing them to make quick adjustments to their solution without incurring high costs. We've established our solution as a compelling option for those who seek to challenge status quo."
Recognized by industry analysts including IDC and Gartner for its enterprise resource planning (ERP), enterprise asset management (EAM) and Field Service Management solutions, IFS accolades every year are testament to the world-class solutions we offer, including being a Leader for every Field Service Management Gartner Quadrant since 2014 and a Leader in the 2019 IDC MarketScape for SaaS and Cloud-Enabled EAM Providers.
The new IFS regional HQ in Singapore will also focus on delivering quality solutions and local support at reduced costs to enable more cost efficient investments by clients. An inaugural Regional Partner Summit was organised in Bangkok in July this year, providing quality enablement programs to recruit and train partners. The move will expand available market resources to provide consultancy to delivery for IFS prospects.
Joining IFS as Channel Director of ASEAN, China and India with prior roles in INFOR and SAP, Mr Rajeev Ganju said, "We aim to have Singapore and the rest of the region partners drive 50% of IFS client acquisitions and delivery. This is a significant five-fold channel growth compared to our traditional contributions, but the strategy is beginning to see tangible high-growth for IFS." Apart from enabling partners to drive business value for clients of IFS through an Enterprise wide financial and process review, IFS is primed to be the key leaders in advanced Field Service Solution for the region.
Mr Rajeev added, "We saw over 100% YOY growth in H12019 in FSM licence revenues globally with our best-in-class field service management solution which represents the strong growth potential for our advanced FSM solution to become the leading choice for ASEAN businesses with complex service operations."
IFS develops and delivers enterprise software for customers around the world who manufacture and distribute goods, build and maintain assets, and manage service-focused operations. The industry expertise of our people and solutions, together with a commitment to delivering value to every one of our customers, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of 3,700 employees and growing ecosystem of partners support more than 10,000 customers around the world challenge the status quo and realize their competitive advantage. Learn more about how our enterprise software solutions can help your business today at ifs.com.
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