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| Sunday, 14 December 2003 |
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| News Business Features Editorial
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IFS opens new R&D Centre Industrial and Financial Systems (IFS) has moved to a new purpose-built Research and Development (R&D) Centre at Galle Road, Colombo 6. The new centre provides facilities for research and development of Business Software Solutions, and will meet the needs of the planned expansion of IFS' operations in Sri Lanka. Michael Hallen, president of the IFS Group said: "The inauguration of our new R&D Centre demonstrates IFS' commitment to Sri Lanka and the dedication with which our staff have applied themselves in the six years since we commenced operations in Colombo". IFS came to Sri Lanka in 1997 to establish a Software Development Centre, and it has evolved into the largest R&D Centre within the IFS group with some 350 software professionals working on the component-based ERP Business Software Solution, IFS Applications. IFS is one of the largest software companies in the country. IFS offers its Business Software Solutions in the local market and customers include some of the best-run businesses in Sri Lanka. The company is focusing its local sales based on its international strength in the utilities, manufacturing and distribution industry segments. Jayantha De Silva, Vice President of South Asia said: "The facilities available at this R&D Centre will enable us to serve the local market even better. It also reduces the Total Cost of Ownership for our clients, as the experts are available here in Colombo, while the other vendors would have to source such resources internationally'. A leading global business applications supplier, IFS has 3,000 employees, with sales in 45 countries, and more than 350,000 users worldwide. The company is listed on the Stockholm Stock Exchange. The company will focus on satisfying the growing needs of the existing customer base, including two of the largest distribution operations that are the market leaders in their respective industries, while expanding further into the utility, manufacturing and distribution industry segments. IFS has one of the best Business Software Solutions for the utilities sector, and internationally has a large market share in this sector which includes power and energy, telecommunications and water management. Another key area in which it plans to provide the benefits of IFS Applications is in the management of human resources. It will focus on providing the entire strategic human resource management solution, which includes competency-based HR management in addition to the operational HR components such as payroll, time and attendance and benefit administration. |
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