Elevating Performance & helping industries streamline Operations.
Digital transformation has been a buzzword in the business world for quite some time now. However, the ongoing pandemic has made it more not just a buzzword, but rather a necessity. Companies across industries are now scrambling to adopt digital technologies to stay afloat in the new normal. This is where IFS comes in, with its solutions to help companies accelerate their digital transformation journey.
Recently we spent a few days in Sri Lanka with IFS, a global enterprise software company that offers a suite of solutions designed to help businesses across various sectors streamline their operations, increase efficiency, and improve customer experience.
With IFS CMO Oliver Pilgerstorfer and Ranil Rajapaske, IFS COO and SVP of offshore operations as our guides, we get to know more about the company and how IFS in Sri Lanka is planting the seeds of innovation that will benefit not just the locals but multinationals across the globe.
IFS in Sri Lanka
IFS Sri Lanka was established in 2005 with just over 25 staff and since inception, the company has provided crucial product development and support services for the company’s global customers, thanks to a staff complement that is close to 2,200 in Sri Lanka alone out of the nearly 5,500 who work at IFS globally in more than 50 countries.
Locally in Sri Lanka, IFS serves industries such as manufacturing, construction, and services with software solutions that covers areas such as enterprise resource planning (ERP), enterprise asset management (EAM), service management, and project management. The local team in Sri Lanka play a key role in the end-to-end development of IFS Cloud with a focus on R&D and Global Consulting Services.
With its focus on innovation, IFS has been at the forefront of digital transformation, providing its customers with the tools they need to stay ahead of the competition. During our visit, we were able to meet with some of the IFS clients and witnessed first-hand how their back-end solutions helped increased efficiency, staff productivity and product production.
Industry Specific Solutions
One of IFS’s key solutions is its Enterprise Resource Planning (ERP) software, which provides a single platform for businesses to manage their operations, from financials to supply chain management. With its user-friendly interface and powerful functionality, IFS ERP enables businesses to make data-driven decisions, optimize their processes, and respond quickly to changing market demands.
Another area where IFS excels is in field service management. IFS’s field service management solution enables businesses to optimize their field service operations, from scheduling to dispatching and managing inventory. By providing real-time visibility into field operations, IFS enables businesses to improve their service delivery, increase efficiency, and reduce costs.
IFS also offers a range of solutions to help businesses manage their assets, including equipment, vehicles, and facilities. With IFS’s asset management solutions, businesses can improve their asset utilization, reduce downtime, and extend the life of their assets. With its deep industry expertise and innovative solutions, IFS enables businesses to stay ahead of the curve and adapt to changing market demands.
IFS has a strong focus on innovation and has been recognized globally for its cutting-edge software solutions. Our visit to the Silvermill Factory in the outskirts of Colombo was most informative about the many ways coconuts were used when it reached the factory and hence the need for a complex value chain and ERP support that is now managed by IFS in the cloud. The team at Silvermill gush about how their business changed by automating their processes and managing their operations online cost efficiently.
We also had an opportunity to meet with Singer Sri Lanka, an IFS customer for 15 years and a market leader in consumer durables. Singer finalized a complete upgrade of its IFS ERP system as part of its continuous digitalization strategy. With IFS, the implementation has ensured seamless connectivity across commercial and retail network operations, introducing the latest functionality with minimal customization.
Overall, IFS’s presence in Sri Lanka plays an important role in the country’s technology and software development sector, and it provides employment opportunities for many Sri Lankan professionals in the industry.. In Sri Lanka, IFS R&D International (Pvt) Ltd. has also been recognized as a top employer, providing a supportive work environment and opportunities for career growth.
The availability of local educated talent has been key to the success of IFS Sri Lanka and its rapid growth, especially as the company has strong ties for collaboration with local universities. During our visit we met with Thilanka Jayathilake, the VP in charge of HR at IFS Sri Lanka who reiterates the importance of reaching out to the top students, offering internships, scholarships, mentors and also nurturing both male female leaders equally.
IFS recognizes that innovation and entrepreneurship are vital components of economic growth and prosperity and hence has come together with Hatch, a startup incubator and accelerator, to develop the ChallengerX incubator, aimed at nurturing and supporting early-stage startups.
The ChallengerX incubator is designed to provide a supportive ecosystem for startups, offering resources such as mentorship, funding, and access to industry experts. Startups will also benefit from IFS’s expertise in enterprise software, which can help them scale their operations more efficiently.
One of the key benefits of the ChallengerX incubator is its focus on specific industries, including manufacturing, energy, and utilities. By narrowing its focus, the incubator provides more targeted support and guidance to startups in these sectors.
IFS has a strong track record of supporting innovation and entrepreneurship, and together, the expertise of IFS and Hatch has the potential to provide a valuable platform for startups in specific industries, helping them grow and succeed in a rapidly changing business environment.
The IFS Foundation, established in 2009 is a non-profit organization in Sri Lanka focussing on promoting education, health, and social welfare programs for underprivileged communities in the country.
The IFS brief us on how the Foundation operates various projects and initiatives across the country with the aim to provide education and vocational training opportunities to youth from disadvantaged backgrounds. The foundation also runs health camps, community development programs, and disaster relief efforts in times of need.
Overall, the IFS Foundation has made significant contributions towards uplifting the lives of underprivileged communities in Sri Lanka, particularly in the areas of education and skills development.
During the visits to clients, we learn that one of IFS’s key solutions, Enterprise Resource Planning (ERP) software, provides a single platform for businesses to manage their operations, from financials to supply chain management and this has been a key to their success.
With its user-friendly interface and powerful functionality, IFS ERP enables businesses to make data-driven decisions, optimize their processes, and respond quickly to changing market demands.
Our visit to Sri Lanka hit home the message that companies that fail to embrace digital technologies risk falling behind their competitors. With its suite of solutions designed to help businesses streamline their operations, increase efficiency, and improve customer experience, IFS is well-positioned to help companies accelerate their digital transformation journey.