Industrial and financial systems group
Modern slavery and human trafficking statement for financial year ending 31 December 2020
Slavery has legally been abolished in all countries in the world, but practices akin to it are widespread to this day. Such practices, often termed “modern slavery” or “human trafficking”, include forced labor, indented labor, domestic servitude and child labor, amongst other abhorrent practices. There are an estimated 40.3 million people in modern slavery or victims of human trafficking across the globe.
At IFS, we are committed to playing our role in eradicating modern slavery and human trafficking in all forms. We have therefore taken steps to ensure that our business and supply chain are free from modern slavery and human trafficking. These efforts include actions to ensure that everyone who works for IFS does so in an environment in which human rights are respected and anyone that we do business with also upholds these principles.
This statement details those efforts and is issued pursuant to Section 54 of the Modern Slavery Act 2015. It relates to actions taken by or on behalf of IFS Limited, IFS AB and members of the IFS Group (all defined below). The statement is made for the financial year ending 31 December 2020.
The IFS group incorporates Industrial and Financial Systems, IFS AB (“IFS AB”), Industrial and Financial Systems, IFS UK Limited (“IFS Limited”) as well as a number of other group of companies. IFS AB is the parent company of the IFS group of companies. The entities covered by this statement are IFS Limited, IFS AB and all majority owned subsidiaries of IFS AB or its subsidiaries (“IFS Group”), including in countries such as Australia, Canada, France, Germany and the USA where similar modern slavery legislation is in force. IFS also enforces our Human Rights Policy in all IFS entities globally.
The IFS Group is a globally recognized leader in developing and delivering enterprise software for Enterprise Resource Planning (ERP), Enterprise Asset Management (EAM) and Enterprise Service Management (ESM). We offer applications that enable companies to respond quickly to market changes and use resources in a more agile way to achieve better business performance and competitive advantage.
IFS AB is a private company founded in Sweden in 1983. IFS solutions are used by thousands of customers worldwide through a network of local offices and a growing ecosystem of partners. IFS' products are known for being user-friendly, modular in their design and flexible enough to support the customers in their way of working according to their established processes. Our business philosophy and architecture provide solutions that are easier to implement, run and upgrade.
The IFS Group has more than 10,000 customers in more than 50 countries and has approximately 2 million end users in 2020.
IFS is proud of its history and culture and its commitment to strive to do things better and more efficiently. We are forward looking, open for change and daring enough to aim for a better world.
Our culture is built by our people and history. Together they have formed our characteristics and values.
At IFS our long-held values are to be agile, collaborative, and trustworthy.
These values form the basis for how we work and guide the way we interact with our employees and customers, partners, the market and between colleagues..
At IFS we really care about our customers and their needs which is why we work hard to earn consistently high satisfaction ratings. We also care about the communities and environments in which we operate and aim to adopt the highest ethical and sustainability standards.
There are currently over 4100 people employed by the IFS Group worldwide, all of whom are subject to pre-employment checks to ensure their right to work and to confirm their identity. All employees are provided with information about their statutory rights and paid above the applicable minimum wage and we require our recruitment agencies to comply with all applicable legal requirements.
Our policies in relation to modern slavery
Our Code of Conduct and supporting policies in procurement and human resources (HR) support us in mitigating against modern slavery taking place in our business.
IFS prides itself on being a responsible and compassionate employer. We are committed to the principles that labor must be freely chosen and that workers should be able to leave employment without impediment (beyond reasonable notice requirements).
To ensure that we recruit and treat employees fairly, aiming to eliminate modern slavery at all costs, our HR policies and guidelines set out our procedures on how we:
- Recruit and select employees in a fair, lawful and professional manner, both for internal and external candidates.
- Treat all employees fairly during their employment and, if there is an occasion when an employee does not feel that they have been treated fairly, there are procedures in place to raise a grievance.
- Maintain avenues for our employees to report any concerns they may have about slavery and human trafficking as well as other HR matters or code of conduct violations;
- Manage the exit of an employee from the business in a fair and consistent manner.
We ensure that all employees have access to these policies.
IFS has given consideration to those parts of its business and supply chains that are exposed to the highest risk of slavery and human trafficking. The overall risk profile of IFS’ supply chain is considered to be low. One notable feature of the supply chain is that IFS does not buy goods directly. The most elevated risk profile within IFS’ supply chain derives from the purchase of services where suppliers may use low-skilled or low-paid labor (for example with regard to cleaning).
Due diligence and audit of suppliers and supply chain
IFS operates a comprehensive Supplier Onboarding procedure that requires all of our suppliers to commit to certain minimum standards, including a comprehensive Supplier Code of Conduct, together with our Terms of Business which allow for site inspection and/or audit of the supplier’s own policies on modern slavery and human trafficking among other ethical sourcing standards.
Additionally, IFS maintains the following supplier policy requirements:
- Commitment to adhere to and comply with the UK Modern Slavery Act 2015, or equivalent laws, statutes or regulation in other jurisdictions where similar anti-slavery laws apply
- Commitment to maintain and practice their own policies and operations in the fight against human trafficking and modern slavery, including the same extension to sub-contractors
- Commitment to traceable, ethical trade throughout its supply chain
The IFS supply chain is governed and operationally managed by the IFS Procurement Service Centre (“PSC”) which oversees the vetting process, monthly reporting and supplier audits. Prior to being awarded a new contract in IFS, candidate suppliers will undergo certain risk assessments and must expressly commit to complying with all local and national laws and regulations, including those that relate to combating slavery and human trafficking.
Assessment of our effectiveness in combating modern slavery within our supply chain
Being an enterprise software company, most of IFS’ supply chain is constituted by suppliers from low-risk industries and we maintain a comprehensive procurement policy which sets out steps for ethical and sustainable sourcing in all areas of our business.
IFS is fully committed to preventing modern slavery and human trafficking from occurring within our supply chain or any part of our global business. To achieve this, for our procurement activities we have:
- Published our IFS Supplier Code of Conduct on our website (www.ifs.com) which we ask suppliers to commit to when entering into new contracts with IFS
- Included robust clauses in our standard supplier contracts specific to modern slavery
Continued to include the Supplier Code of Conduct in our procurement training for staff who may engage contractors or any other third party engaged by IFS; and
- Maintained avenues for our suppliers to use to report any concerns they may have about slavery and human trafficking
Training and communication
To make employees aware of the Act and the drivers of modern slavery, we share this statement with all employees through our internal communication channels and a copy of this statement is available on the IFS website.
In the first quarter of 2021, all IFS staff were invited to attend a structured, interactive online training course about Modern Slavery and Human Trafficking to raise awareness for the role they play in mitigating the risk of modern slavery in our operations and ensuring we work with suppliers who uphold the same ethical principles as us. This training was made mandatory for all employees within our HR and Procurement teams, with follow up in place to ensure completion and a positive passing rate, which is recorded in our online training tool. All new joiners within these functions are required to complete this course and we continue to make the course available to all new joiners across the business. IFS aims to refresh and update this training to all staff periodically.
Approval and continuous review
The IFS Sustainability (ESG) Steering Committee will monitor and continue to improve the steps we take to combat slavery and human trafficking.
This statement was approved by IFS AB.
On behalf of IFS AB
On June 15, 2021 | 7:07:38 AM CDT
This statement was approved by IFS UK Limited.
for Industrial and Financial Systems, IFS UK Limited.
on June 15, 2021 | 7:07:38 AM CDT
This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and constitutes Industrial and Financial Systems, IFS UK Limited slavery and human trafficking statement for the financial year ending 31 December 2020.