Demand for IFS Cloud™ drives strong Q3 performance for IFS with cloud revenue up 104% YoY
Industrial asset & service proposition drives momentum with major customer winsLondon, UK, October 26, 2021 – IFS , the global cloud enterprise applications company, today announced its Q3 2021 year-to-date (YTD) financial results, ending September 30, 2021.
Driving strong performance in Q3 was the increase in customer demand for IFS in the Cloud, with cloud revenue up 104% year-on-year (YoY). In line with this, recurring revenue now constitutes 81% of software revenue, representing a 19% increase YoY.
With customers achieving faster time-to-value because of