Endava consolidates its nearshoring offering and expands its operation in Latin America.
Going from being just a team member to a partner in a successful business that is attractive on the New York Stock Exchange is a huge accomplishment. John Cotterell, CEO of Endava, a global IT company providing technology services and product strategy, intelligent experiences and world-class engineering, explains how the team of more than a thousand employees from Endava has accomplished it.
“We continue our growth across all regions and verticals, helping clients digitally accelerate and innovate. Significant technological changes, including the move to the cloud, autonomous vehicles, contactless payment, data insights and supply chain pressures, drive our demand,” said Cotterell.
“Our ability to create new ideas, the technical vision, industry expertise, and the quality of our products have enabled more companies to turn to us as their strategic partner. According to the company’s fiscal year 2022 second-quarter results, revenue increased by 53.4% in constant currency terms.”
Simply Wall St, a specialist company in stock performance analysis, highlighted the market interest in Endava shares: the future looks bright for Endeva because earnings should grow by 55% over the next two years. There seems to be more cash flow, leading to a higher valuation of its shares.
Growth in Latin America
Endava has become valuable in the nearshoring industry by offering services in Mexico, Colombia, Uruguay and Argentina and working with large companies in the US and Canada. Endava takes advantage of the same time zone and uses a team with a high level of focus on technical and professional excellence to support the Digital Transformation of the business.
The company measures its achievements in the region with an indicator not directly linked to revenue because the revenue indicator is for Europe, Asia and the US, where its main clients are. In Latin America, it is related to the volume of business considering the number of employees, based on how many projects each team is involved in and how many hours.
“We have offices in Rosario, Buenos Aires, due to the acquisition of a partner. We also have a small presence in Paraná, Córdoba and Tucumán, consolidating a significant growth in Argentina. In Uruguay, we have a presence in Montevideo and are constantly growing there. In addition, we have recently started working in Monterey, in Mexico,” said Cotterell.
The increase in the number of customers looking for solutions and developers with high availability justifies the opening of new Endava operations in Cali and Medellin in Colombia and Monterrey in Mexico.
With an average growth of 40 employees per month in the region, Endava is considering the possibility of opening operations in cities like Guadalajara, Mexico, to take advantage of the proximity to the USA and enable customers to visit and interact with the company.
This business model began in Europe, specifically in London, where the company emerged just over 20 years ago. Its first step towards global expansion was in Moldova when the company sought professional quality, young talent and the ability to respond to business challenges, seeking their Digital Transformation to remain competitive. Endava later successfully replicated the model in Latin America.
“Last year, we grew 79% in Latin America, from 500 people to just over 1,500, and we are keeping that going. During this time, we have also established a strong presence in North America with our customers,” said Cotterell.
Digital Transformation
In terms of customers, Endava focuses on companies that require support in their Digital Transformation and where innovation is vital to remain competitive. It includes telecommunications, banking, finance, insurance, healthcare, construction, consulting, retail, marketing, advertising, and other industries such as electronics and automotive, apparel, and luxury items, among other things.
To achieve this diverse portfolio, Endava has more than 10,000 employees arranged into agile and multidisciplinary teams, with experts in software development, testing, data, applications management, project management, business analysis, creative services and more. In addition to investing in long-term client relationships, Endava recognizes the importance of providing rewarding and challenging careers for people to become the employer of choice where the company operates.
Human resources are scarce, particularly when we talk about outsourcing technology services of the highest quality. For this reason, Endava has a strong focus on acquiring the best talent available.
“We want to work with the best people and develop their full potential. It is an exciting job attracting the right people. We have technological challenges coming together: the demand for Artificial Intelligence, Virtual Reality, Blockchain and contactless payments,” said Cotterell.
“There are several variables to consider continuing with the expansion in Latin America, such as the availability of young university students, labor and tax conditions,” said Cotterell.
“We promote professional and learning paths for our employees. While the line manager focuses on building high-performing teams, the career coach guides talent to maximize their personal and professional potential through learning and development.”
To ensure this career progression, the company also implements certain areas of specialization in the company called ‘disciplines’. These spaces with the technical communities assure the path to excellence in each practice. For this reason, Endava wants its collaborators to be more than employees and become partners of the company.
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