IFS makes the most of Vietnam and Myanmar’s emerging markets
IFS has entered Vietnam and Myanmar through business partners and expects to generate growth of about 10 per cent by the end of this year.
Sridharan Arumugam, vice president for IFS Southeast Asia, said the company provides enterprise resource planning (ERP), enterprise asset management (EAM) and enterprise service management (ESM) in order to help improve and enhance performances with comprehensive ERP that is compatible with desktops, tablets and smartphones.
The solutions can also analyse data for trends and connect with the cloud, allowing it to be viewed on a real-time basis with the Internet of things (IoT) solution. The Swedish firm provides business-focused solutions to support four core business processes including projects, supply chain, service and asset as well as manufacturing.
The firm also provides ERP solutions with a focus on manufacturing, aerospace and defence, service providers, automotive, retail, asset management, energy and utilities, oil and gas and construction.
“Thailand is an important market that is moving forward. We see growth in several industries such as oil and gas, automotive and manufacturing. We are using Thailand as a hub to provide our products in Vietnam and Myanmar,” he said.
Sridharan added that the firm is focusing on the manufacturing sector in Vietnam and infrastructure development and construction in Myanmar. The two countries play a key role as emerging markets and IFS has been delivering software solutions via business partners since last year. It already has customers in both countries and is using Thailand as a hub to support the new markets.
In the Asean region, IFS has more than 8,500 users from over 150 countries and on October 25, it will make a global announcement related to Thailand’s aerospace and defence solutions.
He said that though by the end of this year, the company expects to gain less than 10 per cent revenue, it still expects to earn some 60 to 70 per cent from the manufacturing sector. The company will also launch a new product – IFS9 – in Thailand this month. The key driver of the market is the government’s Thailand 4.0 policy, which aims to promote an economy based on creativity and innovations, which requires constant investment in technologies.
The Gartner Group, however, reported that the ERP market in Thailand will hit 14.91 per cent growth from 2016 to 2020.
IDC, meanwhile, has reported that the installed base of IoT endpoints will grow from less than 13 billion units by the end of 2016 to 30 billion units in 2020. The industries that IDC predicts will spend the most on IoT solutions are manufacturing, transport, energy and utilities as well as retail.
