1 min Applications

IFS reports strong cloud revenue growth in 2021

IFS reports strong cloud revenue growth in 2021

IFS achieved double-digit growth throughout 2021. In the area of software licenses, sales increased by 22 percent. Recurring revenue increased by 36 percent.

The company’s cloud revenue increased by a dramatic 105 percent compared to the previous year. In total, the company posted net sales of 6.5 billion euros (6.8 billion Swedish kronor).

Acquisitions and IFS Cloud

During the presentation of the financial results, IFS reflected upon its operations. In 2021, IFS acquired Axios Systems (an ITSM and ITOM specialist) and Customerville (a customer feedback specialist).

In the month of February, IFS presented its IFS Cloud platform to combine ITSM, ERP and EAM. Furthermore, IFS rebranded and introduced a sustainability strategy.

Tip: “Forget about application landscapes, think of moments of service”