Seidor, the multinational consulting firm specializing in technological services and solutions, ended the financial year 2017 with a total turnover of €375 million, a 21% increase on the previous year which has enabled the firm to maintain its annual growth rate in double figures. The company has sustained average annual growth rates of over 20% for the last four years, meaning that Seidor’s business has doubled since 2013.
In the words of Eduard Farga, Seidor’s Deputy Managing Director: “These are excellent results on all fronts. All of our business indicators have evolved in a very positive direction: we have achieved growth rates of over 20% for the fourth year running, and hundreds of new clients have placed their trust in our services. We have increased our workforce by 12%, gaining new talent and increased productivity; our international business continues to grow in double figures and the results of our efforts to diversify our business have exceeded all expectations. We are more than satisfied with these results and are very optimistic about the future.”
Farga went on to explain that the company’s next targets include achieving total turnover of more than €400 million in 2018, while the firm aims to pass the €500 million mark in 2020. One of Seidor’s strategic goals is to develop its cloud solution business based on expectations of major growth in this market.
With more than 35 years’ experience under its belt, Seidor boasts a global workforce of more than 4,000 highly qualified professionals. Half of this staff is based in Spain, providing services to more than 7,000 clients. Deputy General Manager at Seidor, Alejandro Daniel, says that staff numbers grew by 12% in 2017, “in line with the company’s growth and with a view to adapting to the challenges posed by the sector”. He explains that “one of the key factors in maintaining this pace of growth in our workforce is the Seidor Academy, a training programme targeting new graduates who we select based on their talent and then train intensively during the first months of their professional career”. Seidor aims to make use of the programme to recruit and train more than 500 professionals each year.
President and CEO of Seidor USA, Tomas Fertig said “we are proud of the successes achieved across all areas of our business and very optimistic that our rapid growth will continue in 2018.These impressive results demonstrate our experience and knowledge driving solutions around the world and helping our customers maximize their performance, all of this by having passionate and dedicated people”.
Business diversification as a mainstay of growth
Seidor Digital, the business division specializing in the digital transformation of enterprises, continues to offer one of the firm’s main drivers of growth for the years to come. “Our vocation for guiding enterprises through the process of transforming their businesses and organizations to compete in the digital world is really bearing fruit. This line of business now accounts for more than €10 million of Seidor’s revenue, employing more than 150 professionals in the firm and helping over 100 clients who have placed their trust in our services. Without a doubt, the magnitude of these figures is extremely positive, especially if you take into account that we only embarked on this line of activity in 2016”, Eduard Farga points out.
Seidor Digital’s value proposition has the following components: a) an e-commerce and digital marketing competence centre, with two offices (in Valencia, Spain, and Lima, Peru), which is currently a landmark initiative in the Mediterranean area (Europe, North Africa and the Middle East) and in Latin America in the implementation of the SAP Hybris platform; b) the firm’s consulting services on digital transformation and innovation, which help companies to tackle the huge challenges posed by digitalization with a very practical focus; c) the technological innovation projects developed by Seidor Labs, with a special focus on the Internet of Things, computer vision and Artificial Intelligence in a range of sectors including health, industry and retail; and d) creative marketing and innovation services offered by Yslandia, one of the most highly acclaimed independent agencies in the market which has enabled Seidor to complete its portfolio of digital services and create a proposition offering high added value.
International expansion in strategic markets
Another key element of Seidor’s growth is its commitment to international expansion. During 2017, international sales accounted for 34% of the company’s total turnover. In this respect, Seidor has strengthened its presence not only in Latin America (and in particular in Brazil), where it began operating more than 10 years ago and currently serves more than 1,000 clients throughout the subcontinent, but also in the United States, where today the firm has offices in Houston, Miami, Detroit, New Jersey and California.
Seidor has also made a firm commitment to its business in Africa. The company currently has offices in various countries in north Africa (Morocco and Egypt), as well as in the south of the continent (South Africa, Kenya, Tanzania, Zambia and Mauritius). On acquiring Bluekey and Westrocon in 2016, Seidor positioned itself as a leading SAP partner in equatorial and southern Africa.
“Our objective for 2018 is to continue with our strategy of international expansion. We will achieve this by developing the markets where we are present and that offer opportunities for growth, such as Latin America, the United States, Africa and the Middle East, as well as Europe. Meanwhile, we will also keep an eye on the investment opportunities that the market offers us, whether in countries where we already operate or in new areas”, Alejandro Daniel explains.
Seidor currently has a direct presence in 28 countries on five continents:Europe, Latin America, the United States, the Middle East, and Africa. Moreover, the consulting firm is a founding member of United VARS, the largest global network of SAP suppliers, which allows Seidor to offer services in more than 80 countries.
Accolades from partners
Seidor is a major partner of various leading manufacturers, including SAP, Microsoft and IBM. During 2017, Seidor received accolades from several of these organizations, including the following SAP awards: Pinnacle Award for Business One Partner of the Year; five awards in the Spanish market in recognition of Seidor’s performance, evolution and results; and five more accolades in the Latin American market. Seidor also received awards from IBM in the categories of SaaS and technical excellence; and from Huawei for best new partner.