Earlier this year SportPesa Racing Point F1 Team announced its multi-year partnership with IFS. Going forward, IFS’s cloud-based ERP software will underpin the team’s racing operations and back-office needs as the team continues on its journey towards the front of the grid.
After sharing this exciting news, IFS sat down with Sportpesa Racing Point F1 Team Chief Financial Officer, Robert Yeowart and Sportpesa Racing Point F1 Team Chief of Information Technology, Bill Peters to discuss F1 and the partnership. Below are the highlights from that discussion.
📣 Exciting news to kick-start our #SingaporeGP weekend…
We're proud to welcome @ifs to the family! 🤜🤛
— SportPesa Racing Point F1 Team (@RacingPointF1) September 20, 2019
What are the challenges of Formula 1™?
Robert Yeowart: Working in Formula 1™ is quite a unique challenge. It’s not many jobs where you are tested every other weekend in front of a global audience of 2 billion people. The decisions you make are instant. If you make a good decision, good strategy call, you can leapfrog the grid. If you make a bad strategy call you can be at the end and there’s not many industries where you are put under pressure and in the spotlight in such a very public way. That brings its own challenges. You have to be at the top of your game, and you have to be able to withstand pressure.
Over the coming seasons, SportPesa Racing Point will use IFS’s state-of-the-art ERP in the cloud to power its business as they challenge the leading teams on the F1 scene.
How does technology help withstand the pressure that comes with Formula 1™?
Robert Yeowart: Technology helps you withstand the pressure because you know the information you’re looking at is reliable and you’re not having to second guess that information when you’re under an incredible time pressure to make a good decision.
Racing Point use cloud ERP from IFS to help manage the complex factory operations and help the team grow in the future.
How does IFS help you handle that pressure?
Robert Yeowart: IFS is a solution that is going to allow us to retain our agility as a business. It’s been one of the key factors of our success in the past. We’ve been able to out-perform our competition by making good decisions because they’re focused on decisions.
As a strategic technology partner, IFS will empower Racing Point with its state-of-the-art tools to ensure operational excellence. The platform gives the team flexibility in this exciting new era with fresh investment from the shareholders and the construction of a new factory.
Looking to the future what will be the key to your continued success?
Bill Peters: I think the key to our success in the future, is the people we have in the business. We need to give them the best tools that we possibly can so that they can carry on doing what they do best.
IFS is #ForTheChallengers and we believe challengers are those who aren’t afraid to think differently, even if it’s a little uncomfortable. Ultimately, challengers inspire and drive change.
What makes Racing Point a Challenger?
Bill Peters: Historically, we’ve always been known to punch above our weight. We’ve managed to do that by being very focused, so we definitely consider ourselves high achievers given the resources that we’ve had.
We now want to take that to the next level, so we really want to start challenging to be the best of the rest and we want to be challenging the big teams. I think Racing Point, very much like IFS are a challenger team. We’re a team of racers with a competitive spirit but we’re also smart in the decisions that we make. We invest in the right things.
It’s really important that we’ve got the right infrastructure behind us to make sure that can keep pace with our growth and our ambition.
Watch the clip below to see the full interview.
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