Customer satisfaction is the key to any successful organization. And creating valuable “moments of service” can give technology vendors a much-needed edge against the competition.
Enterprise software company IFS AB focuses on these moments, allowing it to be a better technology vendor, according to Marne Martin, president of service management, enterprise asset management and global industry at IFS AB.
“Most companies … with the requirements of competitive pressure and supply chain pressures have to be nimble and have to be getting results fast,” Martin said. “So the closeness with the customers, the domain expertise, the understanding of what matters most, helps us to be faster to the value outcomes that our customers needs.”
Martin spoke with theCUBE industry analyst Lisa Martin at IFS Unleashed, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed how IFS is helping organizations differentiate on service. (* Disclosure below.)
Vertical and horizontal specialization
IFS focuses on vertical rather than horizontal specialization. In other words, they continue to focus on industry specialization that will help them scale as a business instead of spreading themselves thin.
The term, “we need to meet the customer where they are” is something to keep in mind when creating business goals, Martin pointed out. By giving customers a solution that they will love not only makes it a memorable experience, but helps organizations scale long-term, including positive revenue generation and staying ahead of the competition.
In fact, IFS grew from a small company into billion-dollar revenue organization. It hopes to reach $2B in revenue and eventually grow to $5B in the next few years, according to Martin. Moreover, the 2022 financials show that the accounts receivable is up by 33% since the pandemic.
“We want to make sure we’re delighting those users of the software that they can deliver the moment of service, not just the business value that we all want from the technology, but really that we’re enabling them to have a solution that they love,” Martin concluded.
Here’s the complete video interview, part of SiliconANGLE’s and theCUBE’s coverage of the IFS Unleashed event:
(* Disclosure: TheCUBE is a paid media partner for the IFS Unleashed event. Neither IFS AB, the sponsor for theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)
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