IFS Applications is an enterprise resource planning (ERP) software that offers extensive software support for a wide range of industries, ranging from manufacturing to the professional services sector. IFS has become a well-known presence on the ERP market due to a positive reputation developed both among users and software industry analysts alike. IFS was founded in Sweden in 1983, expanding into a global enterprise software firm during the 1990s. Currently, the vendor supports a growing customer base of more than 10,000 businesses, with offices located around the globe. Companies of all sizes use the IFS ERP product, covering industry requirements for manufacturing, telecom, energy and utilities, aerospace and defense, engineering and construction, and professional services sectors. IFS Applications touts an ability to provide agile solutions that help businesses respond quickly to changing market conditions and growth opportunities.
What Is IFS Applications?
IFS is an acronym for Industrial and Financial Systems. The company’s ERP software, IFS Applications, supports businesses within the manufacturing, distribution, and professional services sectors, along with asset-based businesses such as mining and energy companies. These industries possess different operational requirements from ERP software, although the core functionality of the system remains consistent in terms of universal business needs such as financial management and accounting. In addition to supporting day-to-day tasks, IFS Applications offers the ability to manage data across an entire enterprise within a single, comprehensive system.
IFS Applications Modules and Features
As an ERP system that’s capable of supporting a wide range of sectors and industries, IFS software offers numerous modules and features to choose from. Some of the most popular and oft-used modules include the following:
- Human capital management
- Project management
- Manufacturing management
- Supply chain management
- Sales and service
IFS Applications has thousands of available features and an extensive catalog of modules that companies can integrate within their solution. As an ERP solution that’s designed for agility, businesses can expect to find modules and functionalities that tailor the solution toward industry needs.
Benefits of Using IFS Applications
While IFS Applications can be used by the vast majority of companies in manufacturing, distribution, professional services, and asset-based industries, the company positions their software as a solution that focuses on agile support. As such, businesses that want to enable processes and systems that respond quickly to changing market conditions can benefit from this ERP system. Agile software systems also help companies in the midst of experiencing growth, or strong seasonal peaks in business activity.
As a whole, ERP software focuses on supporting greater productivity for businesses and organizations. This includes streamlined business processes integrated within the ERP, along with advanced analytics that improve data visibility across all departments. IFS Applications also enables automation of important tasks and processes.
IFS Applications Review
Compared with other ERP solutions, IFS Applications receives exceptional reviews from multiple sources. IFS won the 2020 customer choice award from Gartner Peer Insights, indicating a high level of user satisfaction. IDC MarketScape recognizes IFS as a leader in software-as-a-service (SaaS) and cloud-based systems. Perhaps more impressive, IFS is listed as a “visionary” in Gartner’s Magic Quadrant for cloud ERP in 2020, alongside industry giants such as Oracle NetSuite and Microsoft. Certainly, these glowing reviews reflect well on the company, but businesses must focus on how the software covers their own company needs instead of concentrating solely on reviews.
IFS Applications Pricing
Like many ERP vendors, IFS does not publish pricing information for their ERP software products. You will need to contact a company representative to obtain a quote for your business. Exact pricing numbers aren’t available online, but the ERP provider does communicate that companies can choose from a variety of different ways to deal with cost issues.
Businesses can choose to get a perpetual license or a SaaS subscription through monthly payments. Companies that prefer a more traditional arrangement can pay an up-front fee for a perpetual license, along with a maintenance fee. Before considering ERP price, companies should understand their business requirements, which will help to keep costs under control.
IFS Applications Resellers
With an extensive network of partners, there’s an excellent chance that you will find IFS Applications resellers and service companies in your area. Some of these third parties provide support for multiple industries, while other resellers and service providers may focus on a specific niche or industry vertical. Finding a deployment and implementation team that meshes well with your company culture and business requirements is a valuable part of any ERP project. IFS provides a searchable list of their partners, making it a bit easier for businesses to find a service provider in their area.