IFS celebrates 21 Years of Operations in Sri Lanka

IFS, the global enterprise applications company, is proud to be celebrating 21 years of operations in
Sri Lanka. Having initially established its presence in Sri Lanka in 1997, IFS now employs more than
1,100 employees who work from the company’s offices in Colombo and Kandy.

At a media briefing held on the 9th of November at Galle Face Hotel, Colombo, the company
showcased its significant milestones, unparalleled innovation, Product Development & Support, and
outstanding organizational culture that has made IFS stand out since its inception.

IFS counts over 120 of Sri Lanka’s top companies as customers of its enterprise software. These customers use IFS solutions to manufacture and distribute goods, maintain assets, and manage service-focused operations. The industry expertise of IFS’s people and solutions, together with its commitment to customers, has made the company a recognized leader and the most recommended supplier in the sector.

Stephen Keys, IFS Regional President, Asia-Pacific & Japan, Middle East & Africa, commenting on IFS
from a global and regional perspective, stated, “IFS has maintained a long-standing commitment to
helping our customers unlock value through deployment of easy-to-use, quick-to-deploy, enterprise-
grade software. Our 21-year presence in Sri Lanka is testament to the success of our business model.

We recognize the importance of Sri Lanka as a vital source of skills and knowledge to support our
regional and global business. We are committed to a number of corporate social responsibility
programs in Sri Lanka, so we can give back to the community in which we operate. This has helped
create a mutually beneficial partnership between our staff, our company, our customers, and the
community. ‘’

Thomas Säld, IFS Senior Vice President Research & Development, speaking about IFS R&D and new
product initiatives, added “We develop, sell, implement and support world-leading solutions for
customers who manufacture and distribute goods, maintain assets, and manage service-focused

We would not be able to that without our operations here in Sri Lanka. This is our largest site with more than 1,000 people where we do around 60% of the development and 80% of the support of our products. As an example, IFS Applications 10, which was launched earlier this year, has, to a large extent, been developed here in Sri Lanka. IFS Labs, which is the unit within IFS that investigates new technology and trends, does almost all development here in Sri Lanka as well.

Right now, one focus for them are different aspects of artificial intelligence. So Sri Lanka is of vital
importance to IFS and we are looking forward to increasing our investment in Sri Lanka even further
over the coming years.”

Also speaking at the event, Ranil Rajapakse, Senior Vice President and Head of IFS World Operations
in Sri Lanka, stated, “Apart from being the largest product research and development center for IFS,
we have grown to become the hub for providing consulting and support services to our customers
around the world. With 1,100 of IFS’s global staff of 3,500 based in Sri Lanka, the Sri Lankan business
is an integral part of the global IFS group, which is a testament to the great pool of talent we have.
Being a knowledge-based company, the importance we place on our people, the great work culture,
and the long and fruitful collaboration with local universities in building capacity and creating talent,
have been key factors in our 21 years of success in Sri Lanka.”

Shiraz Lye, Managing Director and Vice President Sales IFS South Asia, commenting on the company’s
South Asia operations, said, “Our growth rates are very impressive compared to similar companies in
the country and some of our peers within the group. We had a fantastic double-digit growth for Q3
2018, recording an impressive 44% overall revenue growth with license up by 53% compared to last
year. Maintenance revenue grew 13%, indicating more and more of our customers are on boarding
the Annual Maintenance Contract (AMC) plan.”

Explaining how IFS is ready to drive the next phase of business growth in South Asia, he went on to
say, “IFS in South Asia is transforming into a bigger, faster and even more customer-centric business
and I am personally proud to be part of that journey. This transformation comes at a time when IFS
has real opportunity to increase momentum in the sector and extend its leadership position. A strong
ERP heritage and exemplary customer satisfaction provide the perfect platform to position IFS in new
markets. We at IFS would like to thank our customers and partners for their valued loyalty during the
past 21 years.”

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