What is IFS Applications?
Industry Specialties: Serves the Aerospace, Defense, Energy, Utilities, Resources, Engineering, Construction, Infrastructure, Manufacturing and Service Industries
Benefits and Insights
Key differentiators & advantages of IFS Applications
- Accessibility: IFS Applications can be deployed through different avenues: SaaS, cloud service models, IFS Managed Cloud or on-premise. With cloud deployment, the program can be accessed at any time and any location as long as there is an internet connection available.
- Real-Time Data: The program includes real-time data and visualizations. For example, engineering changes, bottlenecks in the production system and any material shortages can be analyzed as they occur. Barcode scanning is also included to track the movement of products and materials throughout the supply chain.
- Revenue Boost: By identifying and reducing bottlenecks, forecasting demand and honing the sales process, revenue can be increased. IFS Applications includes a range of features that can maximize revenue through elements such as reduction in spoilage and increased efficiency.
- Increase Productivity: IFS Applications can streamline and automate facets of workflows such as sales, manufacturing and distribution. By reducing the amount of time that employees spend on tasks such as supplier invoicing, which can be automated through this tool, more time is freed up for staff to work on other important tasks.
- Legal Compliance: This program helps to ensure company compliance with a range of industry or governmental standards and regulations. For example, IFS Human Capital Management can keep track of and manage employee health and safety measures in accordance with legal requirements. A dedicated maintenance tool is also available to help ensure that the company adheres to rules.
IFS Applications is well-suited for medium and large businesses and is available for deployment both on-site and through the cloud. It is especially beneficial to companies in the following sectors: aerospace, defense, energy, utilities, resources, engineering, construction, infrastructure, manufacturing and service.
- IFS Financials: IFS Applications includes basic accounting tools such as general ledger, accounts receivable, accounts payable and fixed assets. It also contains business planning functionality that uses customer-defined planning models to enable demand-driven planning. The eInvoice tool automates supplier invoicing and enables electronic invoicing. Consolidation can also be conducted across multiple companies and with multiple reporting currencies.
- IFS Human Capital Management: This system allows employees to manage their own data as well as perform tasks such as applying for leave and updating time and expense reports. HR personnel can also manage payroll procedures, maintain health and safety information in accordance with government regulations and develop internal training programs through the tool. Recruitment can be done through the program’s connectivity with third-party applicant tracking systems (ATS).
- IFS Engineering: This feature includes the ability for continuously updated data related to factors such as design elements, products and facilities to be accessed throughout an organization. Change management capabilities allow users to view, approve and check changes before going ahead with change orders. The commissioning tool also ensures that facility components are designed, tested, etc. in accordance with operational requirements through the use of punch lists and mechanical completion packages.
- IFS Projects: IFS Applications includes project management, risk management, project reporting and project budgeting features. Specific functionality consists of the ability to process project cost transactions, create projects using WBS, develop project schedules and develop forecasts using multiple versions of project estimates, reviews, budgets, etc. Estimate to Complete (ETC) and Estimate at Complete (EAC) principles are supported and spreading rules are available.
- IFS Manufacturing: This tool can calculate capacity requirements, conduct Master Scheduling for finished goods, manage the production to order process and enable employees to report production information quickly. Project-based, discrete, repetitive and batch process manufacturing are also supported through the system. Visualization of the production plan is included and enables users to identify bottlenecks and material shortages.
- IFS Supply Chain: IFS Applications offers demand forecasting, supply chain planning, inventory replenishment, sales order management, procurement, rental management, warehouse management and shipment management features. The inventory function is connected to the demand forecasting tool and includes different planning strategies such as economic order quantity and service level-driven safety stocks. Item traceability is also supported through barcode functionality, which provides real-time stock information.
- IFS Sales & Service: This feature controls the customer lifecycle from the time a lead comes in to the time that a product reaches its final destination. It assists with transportation by allowing users to visualize driving routes. It also supports service quote and contract management. Sales efforts can be streamlined through the sales configurator, which includes a product advisor that uses a series of questions to define requirements and recommend products.
- IFS Maintenance: IFS Applications enables users to evaluate potential improvements in equipment performance, communicate with subcontractors through a collaboration portal, develop leaner MRO operations and manage preventive maintenance schedules. It also makes regulatory compliance for vehicle fleets easier and manages tasks such as fault reporting, preparation, execution and final reporting for maintenance-related matters.
- IFS Business Enablers: This solution includes role-based portals and personalized access to ensure that employees, customers and suppliers view the most relevant information and that no one has access to privileged information that they should not be able to review. The solution contains real-time data and allows for the connection of internal and external programs through web services. Add-ins and add-ons can be implemented to customize the solution through RESTful oData APIs from IFS Applications.
- Complex implementation process
- The solution isn’t user-friendly
- Doesn’t support automatic barcode scanning of inventory, so it has to be done manually
- Users require rigorous training to learn the navigation process
IFS Applications Suite Support
Cost of Ownership for IFS Applications
|Installation/Implementation Cost||For both types of deployment, the cost is over and above the upfront/subscription cost
|Customization Cost||For both types of deployment, cost varies depending on the applications and modules added, such as self-service, recruitment, employee development and certification, training management and expense management|
|Data Migration Cost/Change Management/Upfront Switching Cost||For both types of deployment, cost varies depending on which legacy system is used (older, proprietary system vs. disparate systems), amount of business and historical data to be migrated to the new ERP system and the intensity of data migration to the new system
|Recurring/Renewal Costs||For both types of deployment, the standard license renewal fees are 10% to 15% of the software cost
Top Competitors Alternatives
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