IFS growth outperforms market in 2020 with 26% increase in software revenue
· 60% increase in Cloud revenue and 43% increase in recurring revenue YoY, despite macroeconomic backdrop · Recurring revenue share now 80% of software revenue · Service management license revenues increase by 105% YoYLondon, January 28, 2021 – IFS , the global enterprise applications company, today announced its financial results for the full year ended December 31, 2020.
2020 saw widespread market disruption due to the Covid-19 pandemic. This has heightened the need for companies to build resilience into their business and adopt digital business models.