Colombo, March 01, 2023 – IFS, the global cloud enterprise software company, announced today that it is celebrating the 25th anniversary of the inception of its Sri Lankan operations. Since its humble beginning in 1997, with just 26 employees in a two roomed office in Colombo 03, IFS has made major investments into the workforce and community, becoming the second largest technology employer in the country.
At a time when Sri Lanka’s ICT industry was developing, IFS saw an opportunity to set up its innovation hub in the Asian region due to the country’s excellent technology talent. Sri Lanka is now an integral part of IFS’s international success, with close to 80% of global product support services and 60% of the global product development of IFS being facilitated out of Colombo.
Today, IFS Sri Lanka is a powerhouse in the local ICT industry, with more than 2,200 employees, accounting for approximately 40% of IFS’s global staff. Over the last 25 years, the company has generated more than 5,000 employment opportunities for Sri Lankans, helping to shape the future of many industry professionals.
IFS Chief Executive Officer Darren Roos commented: “It goes without saying that our Sri Lankan team has played a critical role in providing us with the organizational support and agility we needed to achieve the growth that we have.” Roos continued “The team’s contribution to our success and company culture is felt throughout the organisation because it supports so many of IFS’s working processes from R&D to HR, Marketing, Support and more. I am very proud of what we have achieved together and of the contribution that we are making as the second largest employer and with the IFS Foundation. Roos concluded “25 years is a very significant journey that we look forward to progressing as we also continue to invest in our business here.”
Over the past five years, our employee base in Sri Lanka has almost tripled since 2017 to over 2,200.”
IFS Sri Lanka its IFS ‘s most extensive R&D center outside of Sweden and supports functions across Finance, Procurement, Marketing, Global Customer Support, Cloud Operations, Consulting, and IFS Labs. The IFS Labs operation drives innovation, value into IFS products and solutions across all industries for IFS customers worldwide.
IFS Sri Lanka also manages the South Asia Customer Organization, which offers services and supports for IFS Cloud.
IFS Executive Vice President & Chief Operating Officer Ranil Rajapakse, who is also one of the original IFS Sri Lanka employees, commented: “It is a surreal moment to reflect upon our humble start with 26 people in our Colombo office and compare it to where we are now. 25 years ago, IFS was virtually unknown in Sri Lanka, but today people recognize it as a well-respected technology big-hitter and a force to be reckoned with in the industry.”
“It has been a rich and rewarding experience to witness the company’s ascent and transformation over the last 25 years. Especially seeing the extensive growth of our employee network entering IFS as graduates, I am honored to work alongside such an intelligent, hardworking, and driven team of professionals. I cannot wait to see what the next 25 years bring for IFS Sri Lanka,” concluded Rajapakse.
Recently, IFS Sri Lanka was ranked amongst the top 100 Sri Lankan corporates by LMD (Lanka Monthly Digest) Magazine in its 18th ‘Most Respected Entities in Sri Lanka’ edition. In addition to being honored as one of the most respected entities, IFS has also been ranked as a top Sri Lankan business entity in Dynamism, Corporate Culture, Innovation, Management Profile, and HR/People Management lists.
IFS has also taken bold steps to improve living standards and break the poverty cycle in Sri Lanka through the IFS Foundation. The company has invested in a series of projects in partnership with local communities in remote and rural areas of the country to renovate schools and hospitals, improve access to fresh water, and create employment opportunities.