Contract Management Software spans multiple projects.
Press Release Summary:
With singular code base that adapts to all regulatory and language requirements for key markets, IFS Applications v7.5 provides tools for multinational companies that need to capitalize on opportunities available in constantly changing business environment. SOA-based solution includes components to support contract-management, from estimate to execution, for total visibility. Risk minimizing measures allow identification, flagging, and ongoing assessment of key danger factors.
Original Press Release:
IFS Launches IFS Applications 7.5 for Global Business
SCHAUMBURG, Ill., October 15, 2007- IFS, the global enterprise applications company, today at its World Conference in Berlin, Germany, launched IFS Applications 7.5. The new release includes tools for multinational companies that need to capitalize on opportunities available in a constantly changing business environment. It has a single code base that easily adapts to all regulatory and language requirements for key markets, rather than multiple country-specific code bases which require separate support and upgrades.
Expansion into new markets is accelerated by in-house support and upgrades, along with the ability to make changes to the code base only once across the entire business.
"IFS Applications 7.5, which is service oriented architecture (SOA)-based, builds on seven generations of component-based applications," IFS CEO Alastair Sorbie said. "We've worked with customers to enhance the user experience as well as deliver real business benefits to improve productivity. Global companies need industry-specific functionality which will support growth and provide the agility they need to gain competitive advantage on the international stage."
IFS Applications 7.5 has several new features:
Enhanced tax handling, reporting and inventory management:
In addition to accommodating country-specific regulatory requirements and multiple languages, units are automatically recalculated and standardized across several locations, allowing more accurate global inventory information. In turn, organizations can make more informed decisions using reliable data and predict accurate sales and budget forecasts.
Risk management across multiple projects:
Components to support contract-management, from estimate to execution, including financial control and planning, provide total visibility. Risk minimizing measures allow the identification, flagging and ongoing assessment of key danger factors, so companies can counter these early with preventative measures.
Efficient solutions for global supply chain and mixed-mode operations:
New functionality allows companies to be more responsive to customer needs and the pressures of decreasing product lifecycles and increasing product variability. For example, IFS Applications 7.5 keeps track of key performance indicators (KPIs), such as delivery times across multiple locations, to ensure multi-site production is fast and reliable.
IFS Applications 7.5 became available for order October 11, 2007 and the first implementation project has already begun.
"We need to manage our supply chain across eighteen sites in eleven different countries," said Heinz Ensen, CIO Europe at Flint Group, one of the first customers to implement IFS Applications 7.5. "Executing this efficiently with IFS' multi-site planning capabilities means we are faster and more responsive to customers and also reduces our working capital. Being able to use different local units of measurement as well means we can ensure consistent and accurate data across regions."
About IFS and IFS Applications
IFS (OMX STO: IFS), the global enterprise applications company, provides solutions which enable organizations to respond quickly to market changes-allowing resources to be used in a more agile way to achieve better business performance and competitive advantage.
IFS was founded in 1983 and now has 2,600 employees worldwide. IFS has pioneered component-based ERP software with IFS Applications, now in its seventh generation. IFS' component architecture provides solutions that are easier to implement, run and upgrade. IFS Applications is available in 54 countries in 22 languages.
IFS has over 600,000 users across seven key vertical sectors: aerospace & defense; automotive; high-tech; industrial manufacturing; process industries; construction, contracting & service management and utilities & telecom. IFS Applications provides extended ERP functionality including customer relationship management (CRM), supply chain management (SCM), product lifecycle management (PLM), corporate performance management (CPM), enterprise asset management (EAM) and maintenance repair and overhaul (MRO) capabilities. More details can be found at www.ifsworld.com.
IFS Applications is a trademark of IFS Industrial and Financial Systems. All other referenced company or product names are trademarks or registered trademarks of their respective owners.
For further information, please contact:
Charles Rathmann
Phone: 262.317.7419
E-mail: chuck.rathmann@ifsna.com
Kristy Mills
Phone: 262.317.7476
E-mail: kristy.mills@ifsna.com
IFS - THE GLOBAL ENTERPRISE APPLICATIONS COMPANY
