IFS: Thriving under the Leadership of CEO Mark Moffat

AI software provider IFS has seen significant growth under CEO Mark Moffat, receiving a US$16bn valuation in 2025 and seeing a 23% year-on-year increase in Annual Recurring Revenue. 

In February, the company became Principal Partner of Chelsea Football Club, with a shirt sponsorship for the 2025/2026 season and a global partnership that will run until 2028. 

Chelsea will reportedly utilise IFS software and AI agents as part of this, helping enhance club operations – spanning football performance and fan engagement. 

Mark says of the partnership: “In sport – as in industry – the margins are small, the stakes are high and the right decision at the right moment is everything. That’s what IFS Industrial AI delivers for the industries that power the global economy.

“Chelsea FC holds itself to that same uncompromising standard, and that shared ambition is exactly why we’re proud to be their Principal Partner.”

An industrial AI approach

Mark has pioneered the concept of Industrial AI at IFS since becoming CEO in 2024. 

The company has shifted its focus under his leadership from traditional enterprise software to context-aware AI that can understand physical environments and enhance industrial processes. 

With technology designed specifically for safety-critical industries – such as manufacturing, energy and aerospace – Mark said at the IFS Industrial X Unleashed event that the company serves “the 70% of the world’s workforce that don’t sit behind a desk.”

He continued: “Intelligence means nothing unless it's applied to day-to-day operations. We are moving beyond the brochure-ware phase. 

“Our focus is the 'Moment of Service' – ensuring that when a mission-critical asset fails, the AI has already predicted it, routed the right technician and provided the exact schematics needed to fix it."

Customer obsession

Mark's approach to leadership is defined by what he calls 'customer obsession'. 

During his first 100 days as CEO, Mark met with more than 100 customers to make sure the company’s shifting approach towards industrial AI was founded in practical, real world pain points – such as scheduling optimisation and asset management. 

Mark has continued to prioritise the customer, reportedly spending more than 50% of his time directly with customers to understand their needs and challenges. 

“Our core IFS value of being customer obsessed is paying off,” Mark said, at the announcement of the company’s full year 2023 results. “This time last year we reported five years of strong consecutive double-digit growth. I am hugely proud that the IFS team has continued this trend and also delivered an outstanding 2023. 

“We will shortly reach a very significant landmark for IFS with US$1bn annual recurring revenue (ARR) representing a strong vote of trust from our customers.”

This customer-centric approach may stem from his history within the company. Before becoming CEO, Mark was the company’s Chief Customer Officer, where he was responsible for aligning the company’s approach to customer experience with its wider growth strategy.

According to Mark, centralising the customer in its operations sets the company apart from its competitors, allowing it to focus in on complex problems within its customers’ operations and develop industry specific solutions – allowing the company to position itself as a leader in Industrial AI.