Recurring Revenue up 35% YoYCloud revenue up 46% YoY as new and existing customers move to IFS cloud. LONDON, Jan. 30, 2024 /PRNewswire/ — IFS, the global cloud enterprise software company, today announced its financial results for the full year ending December 31, 2023.The company posted exceptional results with software revenue growth at 33 percent year-on-year and cloud revenue up 46 percent as new and existing customers accelerate the move to IFS Cloud, a market leading single cloud platform, allowing customers to access the latest Industrial AI capabilities most critical to our focus industries. IFS is consistently recognized internationally as a market leader in FSM, EAM, ERP and ESM.
2023 continued to see the unfolding of unpredictable economical and geo-political disruption. Despite this, IFS’s strategy to stay focused on its core industries and to extend its Industrial AI capabilities with IFS.ai, have yielded very strong results in all regions, leading to another year of strong double-digit revenue growth for the company. The results which continue to outperform the market point to the company’s agility, scale, and ability to execute globally for its customers.
IFS’s product innovation in IFS Cloud and the inherent IFS.ai capabilities are in demand from existing customers and has attracted a large number of new customers choosing IFS over industry peers. Long standing customers such as Cimcorp as well as new customers such as Tele 2, Mattr, NOTE AB, Havfram, Van Oord, TÜV NORD, Stannah Lifts are turning to IFS as their long-term partner to transform their business models, improve resilience, increase operating efficiency, and deliver competitive advantage across their people, assets and services.
IFS CEO Mark Moffat commented: “This time last year we reported five years of strong consecutive double-digit growth. I am hugely proud that the IFS team has continued this trend and also delivered an outstanding 2023. We will shortly reach a very significant landmark for IFS with $1bn ARR representing a strong vote of trust from our customers.” Moffat added: “Our core IFS value of being customer obsessed is paying off and with IFS.ai we are creating further productivity and automation opportunities for them while adding a critically important dimension to our proposition. We have delivered AI capabilities to our customers for a number of years now, and with IFS.ai we are driving AI across all our products effectively democratizing AI for all of our customers’ users. ” Moffat concluded: “2024 will be a continuation of our strategy to deliver industry specific and market leading capabilities in FSM, EAM, ERP & ESM which includes investing in M&A. For our customers, I am proud to say that IFS moves as one, creating value faster and delivering our best to our customers when it matters most, at the Moment of Service.”
IFS Chief Financial Officer, Matthias Heiden, added, “2023 has delivered results that we are very proud of. ARR is clearly an important long-term performance metric, and our 26 percent growth in ARR YoY was driven by new logo acquisitions, significant expansion within the Install Base and low churn. All of which points to a very healthy mix of revenue and consistent execution across the entire business. Heiden concluded: “We saw very healthy double-digit growth in all our regions, with a notable outstanding performance in our North American and APJ, ME&A region. This combined with the performance of our ecosystem is clear evidence that our focus on product and the industries we serve are delivering the value our customers need globally.”
Financial and Operational Highlights for FY 2023, growth YoY:
FY2023 software revenue was EUR 853m, an increase of 33 percent versus 2022.FY2023 recurring revenue was EUR 810m, an increase of 35 percent versus 2022.FY2023 net revenue was EUR 1.062m, an increase of 30 percent versus 2022.FY2023 annual recuring revenue (ARR) up 26 percent Year on Year.Some key milestones for IFS in 2023 included:
In February, IFS marked the 25th anniversary of its operations in Sri Lanka.In March, In the United States, IFS launched a collaboration with the Big Ten Conference, a pre-cursor to the strategic partnership launched in late 2023.In May, IFS released it latest sustainability report, a detailed account of IFS’s approach, priorities, targets and initiatives across environmental, social and governance (ESG) topics.In May, IFS launched the first of its twice-yearly IFS Cloud releases in 2023, with updates enabling customers to enhance business agility and build resilience.In May, June and October, IFS held 9 global IFS Connect events with over 3,000 local prospects, customers, and partners in attendance.In June, IFS acquired Poka, the market-leading Quebec-based provider of a connected worker platform.In October IFS added extra capabilities to https://www.ifs.com/ifs-ai.In November, IFS launched the second of its twice-yearly IFS Cloud releases.IFS began several landmark brand partnerships, including a strategic partnership with AJ Foyt in June and was named the first-ever official technology partner of the Big Ten Conference in October.Throughout 2023 IFS appointed several key executives across its global operations, including Matthias Heiden as CFO, Belinda Finch as CIO,Max Robberts as COO. Additional highlights:
IFS added 243 new logos globally and across its core industries, including Mattr, NOTE AB, Havfram, Tele2 AB, Van Oord, TÜV NORD, Stannah Lifts, Enercare, My Dentist and City of Tallahassee.The IFS partner Ecosystem delivered some equally strong results with a 10% growth YoY in partner contribution to 41%. The impact was seen in our Net New business as well as in pipeline growth and number of deals closed by partners with North America and APJ, ME&A regions leading across multiple KPIs.IFS is also extending its partnerships with Global System Integrators with a particular focus on strategic markets: Accenture for Utilities & Resources, Telco, Arcwide for Manufacturing, Services, Construction & Engineering, Capgemini for Construction & Engineering, Manufacturing, Energy, Utilities & Resources, and PwC for Energy, Utilities & Resources, Construction & Engineering IFS extended its leader status in several core areas: IDC MarketScape: Worldwide Field Service Management Solutions, 2023-2024 – IFS a LeaderIDC MarketScape: Worldwide Service Life-Cycle Management Platforms 2023–2024 – IFS a LeaderGartner Voice of the Customer for Cloud ERP for Product-Centric Enterprises – IFS a Customers’ ChoiceIDC MarketScape: Worldwide Field Service Management Solutions for Utilities, 2023-2024 – IFS a LeaderIDC MarketScape: Worldwide Service Parts Planning Applications, 2023 – IFS a LeaderNucleus Research Enterprise ERP Value Matrix – IFS a LeaderIFS collected a significant number of awards: Business Intelligence Awards: Sustainability Winner, March 2023, Business Intelligence Awards: Artificial Intelligence Award Winner, March 2023, HotTopics 100 CMOs: Oliver Pilgerstorfer,March 2023, Eventex Conference Award: Unleashed, May 2023, Eventex B2B Event Winner: Unleashed, May 2023, The Software Report: Top Software Company 2023, August 2023, ERP Today Awards Outstanding Leadership: Mark Moffat, September 2023, Future Enterprise Awards: Best Cloud Enterprise Software, October 2023, ICT Leadership Awards: Enterprise Software Vendor of the Year, October 2023, Boomi’s 2023 EMEA Partner of the Year Award Winner, November 2023, Ecovadis: ESG/CSR Silver Medal, November 2023, Construction Computing Awards: Best Asset Management Software, November 2023.Learn more at www.ifs.com/corp/company/financial-results/.About IFS
IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers—at the Moment of Service™. The industry expertise of our people and of our growing ecosystem, together with a commitment to deliver value at every single step, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of over 6,000 employees every day live our values of agility, trustworthiness, and collaboration in how we support our 6,500+ customers. Learn more about how our enterprise software solutions can help your business today at ifs.com.
CONTACT: Contact information.EUROPE / MEA / APJ: Adam GillbeIFS, Director of Corporate & Executive CommunicationsEmail: [email protected]: +44 7775 114 856NORTH AMERICA / LATAM: Mairi MorganIFS, Director of Corporate & Executive CommunicationsEmail: [email protected]: +44 7018 607 299
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IFS reports industry leading results with 33% software revenue growth for 2023.
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Sendbird Unveils Easy-to-Use AI Chatbot Tailored for Small Businesses
SEOUL, South Korea, Feb. 28, 2024 /PRNewswire/ — Sendbird, a leading communications platform for web and mobile apps, has launched its AI chatbot, designed for easy setup and tailored to help small-to-medium-sized businesses (SMBs) in various customer-facing sectors like e-commerce and healthcare. This affordable, no-code solution aims to enhance customer engagement and support. Businesses can access an AI chatbot starter package offering features such as chatbot personas creation, knowledge enrichment, workflow integration, and performance tracking analytics, all without requiring technical skills.
Furthemore, Sendbird has unveiled a developer-centric Pro package, which simplifies mobile app integration and provides more workflows and function calls for third-party software connections. These connections empower the AI chatbot to expand its capabilities and improve the competitiveness. For instance, the AI chatbot can offer personalized recommendations for flights, accommodations, or products.
Sendbird’s no-code AI chatbot seamlessly integrates with Sendbird Desk, its in-app chat customer service solution, providing businesses with a unified sales or support desk. This integration boosts automated efficiency while maintaining a nuanced understanding of human support, leading to swifter, more accurate responses and increased customer satisfaction.
Built on a real-time communication platform trusted by industry leaders like Rakuten, Paytm, Traveloka, Carousell, PayPay, Yahoo, DoorDash, Krafton, Sendbird’s AI chatbot ensures seamless integration with both websites and mobile applications. This enables businesses to streamline support processes, save time, and allocate resources effectively, exceeding customer expectations.
Sendbird CEO and Co-founder John S. Kim emphasizes the importance of making AI accessible to SMBs, stating, “Today, large enterprises and consumer brands effectively use AI to engage with their customers. But there is no way for a small company to compete. What we aim to do with our no-code AI chatbot is to make that technology accessible to SMBs.”
To explore the benefits firsthand, businesses can access a free trial of Sendbird’s AI chat bot at sendbird.com/products/ai-chatbot. Additionally, to enhance superior customer support and engagement further, go to Sendbird Desk at sendbird.com/products/customer-support.
Sendbird is the all-in-one communication platform empowering web and mobile applications with customizable user experiences. Sendbird’s cutting-edge APIs unlock the potential of AI-powered chatbots, one-way notification messages, chat, video calls and live streaming, tailored for use in commerce, marketing, and exceptional customer support. Trusted by industry leaders such as Rakuten, Paytm, Traveloka, Carousell, PayPay, Yahoo, DoorDash, and Krafton, Sendbird powers over 7 billion interactions monthly for over 4000+ applications worldwide.
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Vieworks Unveils Cutting-Edge X-ray Imaging Solutions at ECR 2024
ANYANG, South Korea, Feb. 27, 2024 /PRNewswire/ — Vieworks, a leading provider of medical and industrial X-ray imaging solutions, is gearing up to showcase its innovative lineup at the European Congress of Radiology (ECR) 2024, scheduled from February 28 to March 3 in Vienna, Austria. Vieworks will introduce a range of groundbreaking solutions including the VXvue software with AI diagnostic support for both human and veterinary applications, alongside X-ray flat panel detectors (Hall X3, Booth 324).
At the exhibition, Vieworks will unveil a total of 19 products, featuring 15 static and dynamic flat panel detectors accompanied by dedicated image acquisition software. Particularly noteworthy will be the introduction of the enhanced VXvue software integrated with AI diagnostic support solutions.
Vieworks’ large-format and large-area detector products (VIVIX-S 1751S, VIVIX-S 4747V) are designed to optimize full-spine, half-body, and large-area imaging, offering static image detectors capable of capturing wider area images in a single scan compared to conventional models, thereby reducing patient radiation exposure. With advantages such as high resolution and swift image acquisition, these detectors enable more efficient diagnosis.
In addition to these innovations, Vieworks will showcase a variety of its flagship products, including FPDs for general radiography (VIVIX-S V, VIVIX-S F series), portable C-arms and fluoroscopy applications (VIVIX-D series), and digital detectors for breast examination (VIVIX-M series).
Developed in-house by Vieworks, VXvue is a user-centric image processing software designed to post-process clinical images acquired through X-ray detectors. With recent enhancements, VXvue can analyze X-ray clinical images of animals such as dogs and cats, providing abnormal findings related to musculoskeletal and thoracic diseases within 15 seconds. By offering post-processing of images along with information on the location of ailments and their probability, VXvue is poised to significantly improve the diagnostic process for veterinarians.
VXvue also offers advanced solutions for human application, incorporating the ‘PureImpact™’ technology, a high-performance image processing algorithm that enhances image clarity, and AI. This enables detailed depiction of soft tissue and skeletal structures with minimal radiation exposure.
A Vieworks spokesperson stated, “This year, we will continue to invest in innovative technologies such as AI to advance our product diversification and technological sophistication. Through these efforts, we aim to secure loyalty from our key customers in North America and Europe and expand our market share.”
ECR, regarded as one of the world’s largest congresses alongside the Radiological Society of North America (RSNA), anticipates participation from over 240 companies representing 35 countries.
About Vieworks Co., Ltd.
As a global leader in digital imaging in various applications from medical x-ray imaging to industrial x-ray inspection, Vieworks offers the most advanced x-ray flat panel detectors and software as a solution to the world. Vieworks creates new standards in the imaging industry by providing professionals with the most valued and high-quality images and offering innovative vision and insight for all. For more information, please visit xrayimaging.vieworks.com.
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Geotab Brings Conversational AI to Connected Transportation Solutions at Mobile World Congress
Demonstrates Geotab Ace with AI capabilities to interpret complex data with natural-language processing – a game-changer in connected vehicle transformationEnables fleets to make faster data-driven decisions based on safety, route planning, maintenance schedules, sustainability, and moreVisit us for the Geotab Ace demo on the Ontario Canada exhibition in Hall 7, 7G61, Kiosk 11 at MWC
BARCELONA, Spain, Feb. 27, 2024 /CNW/ – Geotab Inc. (“Geotab”), a leading connected vehicle technology provider, will demonstrate its industry-first generative AI assistant for connected transportation, Geotab Ace, at Mobile World Congress. Geotab Ace is fueled by data-led AI processing capabilities analyzing more than 75 billion data points daily across global telecoms networks. Deeply integrated into MyGeotab, Geotab Ace instantly generates insights, while democratising and streamlining access to information to unlock new value from fleet data.
Geotab Ace was launched earlier this month at Geotab Connect, with the first public demonstrations of the AI copilot being debuted at Mobile World Congress. Geotab Ace has access to an expansive array of insights, including predictive safety analytics, predictive maintenance, trip data, zone activity, electric vehicle statistics, exception events, GPS tracking, and more. This allows it to provide nuanced answers to a broad range of complex questions while remembering past interactions to improve future responses. Geotab Ace is built on privacy-by-design principles and keeps all customer telematics data within Geotab’s environment, never shared with any Large Language Model (LLM).
Enhancements to the user experience include tailored insights through intuitive dialogue with natural language processing – allowing organizations with fleets to extend on-demand insights in areas including safety, operations, maintenance, efficiency, and sustainability to assess the performance of their vehicles, assets, drivers, and more in simple, easy-to-understand terms.
Fleets can now significantly reduce the time taken to gain insights and access customized data reflections that are tailored to their specific needs, enhancing their capacity and expediency for making data-driven decisions.
“By bringing the intuitive simplicity of conversational AI directly into the Geotab platform, we are transforming the way fleets interact with their data, crafting a future where insights are immediate, intelligent, and instrumental to success,” said Edward Kulperger, Senior Vice President, Geotab EMEA. “It embodies our mission to simplify data analysis and unlock a world of trustworthy, insightful and actionable fleet intelligence.”
Geotab’s position as an industry trailblazer is reinforced by its 4 million globally connected vehicles, 50,000 customers across 160 countries, and an extensive telecoms carrier and partner network. This depth of expertise and global scale enables the company to develop unprecedented AI models, unlocking unmatched value and efficiency for fleets around the world.
Geotab Ace will be available to be experienced hands-on in the Ontario (Canada) Pavilion in Hall 7, 7G61, Kiosk 11 at Mobile World Congress from February 26 – 29, 2024.
To learn more about Geotab Ace, visit https://www.geotab.com/uk/ace/..
About GeotabGeotab is a global leader in connected transportation solutions. We provide telematics — vehicle and asset tracking — solutions to over 50,000 customers in 160 countries. For more than 20 years, we have invested in ground-breaking data research and innovation to enable partners and customers, including Fortune 500 and public sector organizations, to transform their fleets and operations. With over 4 million subscriptions and processing more than 75 billion data points a day, we help customers make better decisions, increase productivity, have safer fleets, and achieve their sustainability goals. Geotab’s open platform and Marketplace offers hundreds of third-party solution options. Backed by a team of industry-leading data scientists and AI experts, Geotab is unlocking the power of data to understand real-time and predictive analytics — solving for today’s challenges and tomorrow’s world. To learn more, visit www.geotab.com, follow @GEOTAB on Twitter and LinkedIn, or visit the Geotab Blog.
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