Ultimo, an IFS company, Appoints Steven Elsham to Accelerate AI-Driven Innovation in Enterprise Asset Management

London, UK, May 22, 2025 – IFS, the leading provider of enterprise cloud and Industrial AI software, today announced the appointment of Steven Elsham as the new Chief Executive Officer (CEO) of Ultimo, an IFS company.

Formerly Area Vice President at Salesforce, Elsham led Sales for Marketing, Commerce, Service & Revenue Clouds, and Slack. He brings a proven track record of scaling enterprise software businesses and a visionary approach to the adoption of artificial intelligence (AI) capabilities.

At a time when Ultimo is seeing a surge in customer demand for AI capabilities, Elsham, with over 20 years of experience in cloud technology, digital transformation, and AI strategy, is poised to lead the company into a new era of intelligent asset maintenance. His mandate is clear: to position the company as the most innovative EAM provider in the industry, enabling customers to unlock unprecedented efficiencies and value from their asset operations, augmented by the power of AI.

Steven Elsham, Chief Executive Officer at Ultimo, said: “The future of asset management is predictive, is deeply infused with AI, and delivers unprecedented value for customers with complex industrial assets. As more organizations realize the transformational potential of AI – boosting efficiency, enhancing asset performance and driving smarter decision making – adoption continues to accelerate. I’m genuinely excited to join Ultimo at a pivotal moment when industrial organizations are reimagining how they manage critical assets. Together with our talented team, we will redefine what’s possible in EAM through cutting-edge AI and customer-first innovation.”

AI is already delivering measurable impact for Ultimo EAM users worldwide. By dramatically reducing mean time to repair (MTTR), organizations are boosting employee productivity and maximizing asset availability. In manufacturing alone, where downtime can exceed $100K per hour and 80 percent of MTTR is spent diagnosing issues, even small reductions translate to significant gains.

Beyond financial returns, AI is transforming the technician experience. Features like photo-based meter readings, auto-generated image captions, and multilanguage translation are simplifying workflows and empowering skilled labor - critical in an industry facing dramatic talent shortages.

Michael Ouissi, Group Chief Operating Officer at IFS, said: “Steven’s deep understanding of the challenges executive business leaders face, and his ability to scale businesses globally while inspiring people to deliver, made him the clear choice to lead Ultimo into its next chapter. The Company’s EAM platform is trusted by 2400+ customers worldwide across sectors including manufacturing, energy, logistics, and healthcare. With Elsham at the helm, the company will accelerate its investment in AI-enabled solutions that offer data-driven insights and intelligent automation.”

About Ultimo
Ultimo, an IFS company, energizes the financial resilience, regulatory compliance and operational excellence for manufacturing, logistics and healthcare organizations through its innovative software-as-a-service (SaaS) enterprise asset management (EAM) solutions. Focused on maintenance, uptime, safety, cost control, and efficiency, the Company is known for rapid deployment, ease of use and an unparalleled time to value. Ultimo supports over 120,000 technicians who manage more than 15 million assets for 2400+ customers worldwide. For further information see ultimo.com.

About IFS
IFS is the world’s leading provider of Industrial AI and enterprise software for hardcore businesses that service, power and protect our planet. Our technology enables businesses which manufacture goods, maintain complex assets, and manage service-focused operations to unlock the transformative power of Industrial AI™ to enhance productivity, efficiency, and sustainability.

IFS Cloud is a fully composable AI-powered platform, designed for ultimate flexibility and adaptability to our customers’ specific requirements and business evolution. It spans the needs of Enterprise Resource Planning (ERP), Enterprise Asset Management (EAM), Supply Chain Management (SCM), and Field Service Management (FSM). IFS technology leverages AI, machine learning, real-time data and analytics to empower our customers to make informed strategic decisions and excel at their Moment of Service™.

IFS was founded in 1983 by five university friends who pitched a tent outside our first customer's site to ensure they would be available 24/7 and the needs of the customer would come first. Since then, IFS has grown into a global leader with over 7,000 employees in 80 countries. Driven by those foundational values of agility, customer-centricity, and trust, IFS is recognized worldwide for delivering value and supporting strategic transformations. We are the most recommended supplier in our sector. Visit ifs.com to learn why.

IFS Press Contacts:
EUROPE / MEA / APJ: Adam Gillbe
IFS, Director of Corporate & Executive Communications
Email: adam.gillbe@ifs.com

NORTH AMERICA / LATAM: Mairi Morgan
IFS, Director of Corporate & Executive Communications
Email: mairi.morgan@ifs.com