To help meet demand from enterprises that are shifting asset management methods from legacy applications to cloud-based technology, offering can provide high levels of flexibility and configurability for customers.
EAM can be considered a subset of ERP software, providing tools and applications to manage the lifecycle of physical assets in an enterprise, in order to maximize their value.
IFS’ acquisition comes at a time when the EAM market is growing due to the move to cloud architecture, growing demand for an enterprisewide view of assets for strategic planning, and increasing deployment of to ensure that customers always have access to its latest features.
Market research firm Gartner, in its Market Share: Enterprise Resource Planning Worldwide 2021 report, positioned IFS at the top of EAM vendors in terms of revenue, with 18% market share, after sales grew 29.1% year-on-year. The Ultimo acquisition should help IFS compete in the EAM market with vendors including IBM, SAP, Microsoft and Oracle.
Ultimo, which was founded in 1988, has 180 employees with more than 2,000 customers including London Gatwick Airport, BASF, VTTI, Ravago, Vion Food Group, Argent Energy, and Hutchison Ports ECT Rotterdam
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