Spanish technology company Fullstep consolidates operations in Mexico, Peru and Colombia

The target markets for the company in 2023 will be Central Europe and LATAM

The company achieves an average growth in these markets of 80% in fiscal 2022, which it estimates will grow another 56% in the current year.

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Fullstep, a company specialized in the end-to-end digitalization of the purchasing, procurement and supply chain process, follows the strategic path of its ambitious international growth plan, has managed to consolidate its presence in the countries in which it is present, Mexico, Peru and Colombia, reaching an average growth in these markets of 80% in fiscal 2022, which is estimated to grow another 56% in the current year.

Fullstep achieved a turnover of 17,3 million euros globally last year, doubling that of the previous period. Likewise, by 2023 it aims for 12% of its turnover to be thanks to the business of international market.

“We are very proud of the steps we are taking as a global company. Our marked international character makes us establish very ambitious objectives in terms of expansion. In this sense, the partner program will be a key lever in the strategic plan to position our software inside and outside our borders. In fact, we have already begun to close the first agreements with partners outside of Spain, and we hope to close other alliances in other European countries throughout 2023,” says the manager. Rosario Piazza, CEO of Fullstep.

Fullstep's purchasing technology market is experiencing a global growth rate of around 10%, a rate that is expected to continue in the coming years

Digitizing the purchasing process reduces incidents by 7%, delivery times by 12% and costs by 34%

La geopolitical and socioeconomic situation is reinforcing the strategic vision What does the purchasing area mean for companies? According to Fullstep's experience, having the purchasing process digitized helps companies reduce incidents by 7%, delivery times by 12% and internal costs by 34%. This is why companies that had invested in digitization and process improvements in this area have seen how this contributed to the reduction of business costs by 10%.

Thanks to its work in this regard, the Spanish technology company, which has more than 20 years of experience in the sector, has managed to help nearly 40% of Ibex 35 companies optimize their relationship with suppliers, leading companies in sectors such as that of food and mass consumption, automotive, aerospace, banking and insurance, energy, pharmacy or logistics among others.

In 2022 alone, its global client portfolio grew by 30%. To continue on this path of growth, its strategy is focused on the markets of LATAM and Central Europe for the current year.

International growth through two axes: technology and services

Fullstep's value proposition is based on two axes: on the one hand, on technology thanks to its own API-based development platform. The team is working on a project based on Digital Enabling Technologies (THD) and Artificial Intelligence for automation and data processing that helps comprehensive analysis and approval of suppliers, avoiding risks.

And, secondly, services, through consulting and BPO (Business Process Outsourcing of the purchasing process, to design process management solutions tailored to the unique strategic, operational and financial requirements for each client.

“Our purchasing platform is going to experience a significant boost in the coming years on an international level. On the one hand, the purchasing technology market is experiencing a global growth rate of around 10%, a figure that is expected to continue in the coming years. And, as we mentioned, our channel of partners will help ensure our presence in a greater spectrum of countries without the need to establish headquarters with our own permanent teams in all of them,” comments the CEO. “Even so, we anticipate that the growth of the team in the countries where we have a workforce will be 15% in 2023.”