This blog was last updated on January 7, 2025
Interview with: Sergio Severo, Managing Director Sovos Latin America
He was seriously considering retiring after an extensive and remarkable professional career when he received an invitation to lead our team in the region. Something about Sovos caught Sergio Severo’s attention, prompting him to abandon his retirement plans and share his experience -acquired at some of the world’s leading IT companies- to drive a new wave of growth for our company in the region.
An electrical engineer from Uruguay, Severo began his corporate career at Hewlett Packard in Mexico, where he worked for 15 years across various geographical locations and roles, eventually managing the global software business. Next came SAP, Hitachi, and Lenovo. He describes himself as a “software guy,” deeply immersed in technology.
“I believe that software, beyond being rich in intellectual property, fosters a highly stimulating development environment, intense with innovative ideas. This is fundamental. When you talk with customers, you get into their hearts. You’re not selling an accessory or a product merely for its features; you’re delivering business outcomes, benefits, and solutions that manage and enhance their business core,” he explains.
Moreover, having held global positions in major companies with varied roots and corporate cultures has significantly influenced Sergio’s leadership style: he deeply values diversity and believes it enhances empathy with clients and attracting talent.
What is your long-term vision for strengthening Sovos’ presence in the Latin American market?
First, let’s talk about who Sovos is: a major company in Latin America, generating hundreds of millions of dollars in recurring revenue, a significant feat in SaaS, a field with many barriers to break through. Additionally, I am not aware of any IT company in our region that gets 25% of its revenue from Latin America; other major corporations might reach 10% at best. Finally, Sovos has grown globally through acquisitions, which brings diversity but also the complexity of consolidating companies and portfolios.
To strengthen Sovos’ presence, staying close to clients to understand their needs and what we can offer to help them overcome challenges and grow is essential. Additionally, exploring interesting options to expand our reach is crucial.
What unique characteristics of the Latin American market should Sovos leverage?
Our market, in some ways, resembles those in Asia or Europe due to the number of countries, languages, religions, cultures, races, politics, governments, currencies, and tax management systems. It’s a highly diverse area with a predominantly young, digitally native population, skilled at adopting solutions across a broad spectrum. These generations are moving into key decision-making roles in companies, making Latin America a critical testing ground for a company like Sovos. This is why significant investment is made in the region.
Additionally, there are specific opportunities right now that we must capitalize on, such as Brazil’s tax reform, which will span eight years, or the mandate in Chile affecting telecommunications companies, requiring double verification, just to name a few.
Sovos has a strong presence in large accounts and multinationals, which often purchase specific software or adapt it for each country due to tax or biometric regulations. There is a significant local component, even in global accounts, to tailor solutions locally.
How should our customer-centric approach influence the way we reach our customers?
The first step to being customer-centric is being with the client through thick and thin; the second is to be at their side at key moments. Personally, my lifelong clients are those who, at some point in one of the companies I worked for, faced issues. Even if we couldn’t always solve them to their satisfaction or within their timeline, they knew that when they called, we were unconditionally there for them.
This is critical, especially when they have a problem, a question, or see a market opportunity and need guidance to seize it. They might not know how to use your technology, but they know their business, and that dialogue is customer centric.
Additionally, in corporations, it’s quite easy to hide behind a computer, send an email, claim something isn’t your task, and wait for someone else to solve it. I always insist, when a customer needs something, sending an email is not enough. You must call them, align, and act swiftly. Human contact is essential. That, too, is being customer centric.
How do you think customer feedback should be integrated into designing products and services?
There is nothing better than being in front of the customer and listening to them. Whenever I have a call or I visit a client, especially if they have an issue or product requirement, I go with the Product team, who are best equipped to understand. This approach has worked well for us in Brazil regarding the tax reform, where we’ve met with the Big 4 and fostered valuable feedback. There’s nothing better than direct, first-hand contact.
Sovos has strong regulatory expertise. How can we deepen this value?
For a company selling compliance solutions, mastering the regulatory aspect is fundamental, whether in trust services or CTC. To this end, we have specialized lawyers. In Brazil, for example, now with the tax reform, our expert tax attorneys are pivotal in understanding the complexities of the changes and translating them into solutions for our clients. This expertise is akin to selling surgical tools designed by doctors, it’s a unique knowledge that clients value, regardless of the field.
Can we talk about your growth expectations for the market?
Briefly, we aim to grow at twice the rate of the market.
Finally, what do you think are the factors in your type of leadership that will impact Sovos’ future?
I must admit, I was practically retired when Sovos approached me. I took this position because I believe some of the skills I’ve developed over my career can benefit Sovos, and because I’m at a stage in life where I want to give more than I receive. This brings me the most satisfaction, whether at home, at work, or in the community where I live.
I believe I can make an impact on people and understand the challenges that arise daily with customers. I have geographical, functional, and business experience and have seen a lot. That is what I am willing to contribute to Sovos at any level. I am here to serve.
