IFS has published the findings from an IDC end-user study which calculated the business value customers from all industries derived from using IFS enterprise software. Specific to A&D, the study revealed that A&D customers running IFS software:
The A&D findings are part of a broader independent evaluation based on qualitative research with billion-dollar revenue organizations from across the world operating in the A&D, manufacturing, engineering & construction, energy & utilities, and service industries. Collectively, the study showed that the average IFS customer can be 18 percent more productive and that they hit breakeven on their investment in just 15 months. The research found that the biggest contributors of value were based on the ability to:
In addition to an 18 percent increase in user productivity, customers across all industries also reported:
This research is an in-depth qualitative analysis on how customers realize business value and it validates what we hear everywhere in the marketplace. Through providing customers choice in what they buy and how it gets implemented and managed, we deliver faster time-to-value and increased financial and productivity benefits compared to industry peers. The study of these large global customers also showed that the amortization period of an average IFS customer is around half the industry average at just 15 months. This once again is clear confirmation of our superior market position through independent research.
The IDC research also dispels the commonly held misperception that field service management (FSM), enterprise resource planning (ERP) and enterprise asset management (EAM) systems only deliver value in the form of operational efficiencies, such as time saving, resource optimization, and error reduction. While all these things are true, it is not the whole story, according to the findings. Respondents cited better sales team performance, the ability to bid for more business, improved net promoter scores (NPS), winning more deals and keeping customers for longer.
Organizations, regardless of their unique industries, are being disrupted by competitors, customers, and their own outdated vision of incremental innovations. They are looking to technology, and specifically digitalization, to solve some of their innovation challenges and more importantly help scale the business to deliver new revenue streams, enhanced customer experiences, and more efficient processes across various functions of the organization.
To download the full report, go to www.ifs.com/corp/sitecore/media-library/Assets/2019/09/19/IDC-IFS-Business-Value-White-Paper
*IDC White Paper, sponsored by IFS, The Business Value of IFS Enterprise Application Solutions with Industry-Specific Use Cases, August 2019.
Learn more about how IFS supports customers in the aerospace and defense industry: www.ifs.com/corp/industries/aerospace-and-defense/.
For more information about IFS visit IFS.com or follow us on Twitter: @ifs.
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