Global leader in enterprise software expanding investments in Sri Lanka
Sri Lanka’s second largest IT company, IFS, which is a global leader in enterprise software is reportedly further expanding its investment and operations in the country by doubling office space and increasing staff by over 40%.
According to reports, IFS has operated in Sri Lanka for over two decades and has 1,100 employees (31% of the global team) at present. The aim now is to increase it to around 1,500-600 in the next 12 months.
In June it will relocate most of its operations to six floors of Orion City’s new tower, occupying double the space of its original location in Wellawatte, the Daily FT has reported.
Sweden-headquartered IFS Global CEO Darren Roos has reportedly told journalists that Sri Lanka is an important, essential, and integral part of its global operations, serving over 10,000 customers, including over 150 top companies in Sri Lanka and South Asia.
Sri Lanka office carries out global support, global consultancy, IFS Labs, and IFS Academy. In 2018, IFS net revenues rose by 23% (as opposed to 15% annual growth in recent history) to US$ 606 million, as it won more new clients for superior Enterprise Resource Planning (ERP) and Field Service Management (FSM) and cloud solutions among others.
“Sri Lanka is an essential part of our global growth strategy,” Roos has been quoted as saying.
“In Sri Lanka we are ramping up capacity. We will add about 300 more staff within the next few months, and have around 1,500-600 by the next 12 months,” he has said.
He has added that Sri Lanka is a cost-effective centre, apart from a great source and place for innovative young talent.
OSL take:
The expansion of operations in Sri Lanka by the global leader in enterprise software, IFS is indicative of the growth as well as growth potential of Sri Lanka’s private sector. Also, the statement by IFS Global CEO, Darren Roos that Sri Lanka is an essential part of the company’s global growth strategy along with being a cost effective center and a great place for innovative young talent is a definite confidence booster for foreign businesses/investors exploring business/investment opportunities in the island nation.
| Article Code : | VBS/AT/14032019/Z_1 |