IFS reaches €1 billion ARR, looks to AI innovation to fuel growth

Hot on the heels of releasing its financial results for 2024 and passing €1 billion ($1.04bn) in Annual Recurring Revenue (ARR), enterprise applications vendor IFS has announced signing TotalEnergies, one of the world's top oil and gas companies, as a new customer. Headquartered in France, the company plans to use IFS Cloud for its asset management operations, with a total user base of over 13,500 worldwide when fully implemented. In an exclusive interview with diginomica, Mark Moffat, CEO of IFS, tells us:

It's a super exciting brand for us to be associated with. It's obviously one of the biggest oil companies on the planet and one of the most progressive on renewables as well, which is pretty core to how we feel we can contribute to carbon reduction and whatnot.

Effectively, our solution will underpin the entirety of their global asset operations. Think exploration, production ...