Industrial software vendor IFS saw its annual recurring revenue (ARR) jump 30% year-on-year in the first quarter.
The ERP specialist says it saw “strong growth” through its enterprise cloud and selling industrial AI software.
For the first quarter of 2025, ending 31 March, cloud revenue increased by 39% year-on-year.
“Customer demand for IFS’s industrial application of generative and agentic AI is soaring, thanks to the ease of which IFS.ai can be adopted and deployed, as well as the rapid value it delivers,” maintained the channel vendor.
“IFS customers are not simply piloting AI, they are operationalising it at scale, unlocking productivity, business resilience and strategic growth,” it added.
Over 50 new organisations became IFS customers in Q1, including global brands such as Total Energies, ArcelorMittal Projects Europe, Collins Aerospace, Goodyear and Hitachi Energy.
“IFS is creating real market momentum thanks to more and more of the world’s most respected industrial companies embedding IFS.ai into the very fabric of their operations and business processes,” said IFS CEO Mark Moffat. “This growth reaffirms our market leadership in mission critical areas of enterprise asset management and field service management.”
