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Business

Brazilian IT services multinational Stefanini reports record growth

Driven by demands around digital transformation, the company's revenues exceeded $1 billion in 2021.
Written by Angelica Mari, Contributing Writer on

Brazilian IT services multinational Stefanini has ended 2021 with a positive financial performance as clients accelerate projects related to digital transformation.

Considered one of Brazil's success stories in terms of internationalization in the IT sector, Stefanini has expanded to 41 countries since its foundation in 1987. The company focuses on services around automation, cloud, Internet of Things and user experience, as well as the application of artificial intelligence to traditional services such as service desk and business process outsourcing.

In its results released today (4), the company reported global revenues of 5 billion Brazilian reais ($1,09 billion). Despite not providing the performance breakdown for each country, the firm said the Brazilian operation has seen 20% growth in 2021 on the prior year, the best result of the last decade. It added that the growth seen last year was spurred by the arrival of large clients and expansion of the scope of work at current clients around digital transformation.

"We have listened a lot to customers to really understand what they needed, what were the main pains to present customized solutions that could solve the issues in the short, medium and long term, depending on the project and the urgency", said Marco Stefanini, CEO and founder of the IT services firm.

"We have listened and encouraged, more than ever, co-creation with our customers, as we understand that innovation is part of a collaborative project for a better future, be it for employees, customers and business partners. Therefore, I say that 2021 was the best of the last ten years for Stefanini Group in terms of opportunities, learning, resilience and business generation", the executive added.

Moreover, the company said much of its positive results in Brazil are due to Stefanini Ventures, the digital business arm of the company, which set a goal in 2020 to invest 500 million Brazilian reais ($108 million) in acquisitions within three years and 10 deals have taken place so far. "We will exceed that target", Stefanini said.

According to the company, the expectation is to achieve 25% growth in 2022. "We believe in a hybrid model, which mixes acquisitions with organic growth, which brings great value to shareholders and employees", the CEO noted.

Stefanini employs over 30,000 staff globally. In 2021, the company determined that at least 80% of its workforce would adapt the home office model in the full, partial or flexible variations. With the change in the working model, the firm's workforce is now present in 1,000 cities globally, against 480 locations prior to the COVID-19 pandemic.

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