IFS is an enterprise software company founded in 1983, specializing in Industrial AI and solutions for industries that service, power, and protect critical infrastructure. The company operates globally across more than 90 countries, serving sectors including manufacturing, aerospace and defense, construction and engineering, energy, utilities and resources, telecommunications, and broader service industries.
The company’s product portfolio includes a cloud-based Enterprise Resource Planning (ERP) system built for industry-specific complexity, alongside Enterprise Asset Management (EAM), Field Service Management (FSM), and Enterprise Service Management (ESM) solutions. These products are designed for businesses managing complex assets and service operations.
IFS has shown strong recent financial performance. In FY2025, annual recurring revenue grew 23% year over year, while cloud revenue increased 30% year over year. Recurring revenue accounts for 83% of total revenue, and the company reported a net retention rate of 114%. The firm traces its origins to five university friends who pitched a tent outside their first customer’s site to provide round-the-clock support.
