Strategic location

 

Bulgaria has a strategic location, political stability and low costs of doing business


Bulgaria is a country in the Balkans on the western side of the Black Sea. It is surrounded by Romania to the north, Serbia to the northwest, the Republic of Macedonia to the southwest, Greece to the south, and Turkey to the southeast.


Bulgaria is strategically located and provides easy access to a number of major markets:

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A joint project of Sofica Group and Mtel won gold Stevie Award

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A joint project of Sofica Group and Mtel won gold Stevie Award
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A project of Sofica Group and Mtel won the gold from the prestigious world Stevie® Awards for Sales & Customer Service 2015 in category “Sales of the Year”. The project is part of the Mtel strategy for providing products, services and package offers according to the client needs and requirements while sustaining the highest level of service.

As a result of the joint work of the two companies, the project sales rates increased by 33% above the set targets. The number of new clients has increased as well as the customer engagement. 

“The received award is an acknowledgement of the excellent partnership between Sofica Group and Mtel. I would like to thank for our long-standing collaboration, which I am sure will continue with the realization of more successful projects in the future”, comments Zdravko Georgiev, Director of the Customer Service Division in Mtel.  

“Our partnership with Mtel is strategic for us as through it we can demonstrate in depth our expert and technological potential. I believe that the world award is a recognition for the professionalism, talent and the combined efforts of the teams from the two companies”, said Stefan Bumov, CEO of Sofica Group.  

Sofica Group received two more bronze awards in the categories “Customer Service Team of the Year” and “Sales Representative of the Year” for its leading specialist Borislav Radoslavov.

The contest is held for ninth consecutive year and is an initiative of the Stevie Awards, which organizes many of the leading world business competitions, including “International Business Awards” and “Asia–Pacific Stevie Awards”. More than 1900 nominees from different sized organizations from around the world and from all sectors participated in the contest. The jury consisted of 139 world professionals, who chose the finalists in 54 categories.

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A project of Sofica Group and Mtel won the gold from the prestigious world Stevie® Awards for Sales & Customer Service 2015 in category “Sales of the Year”. The project is part of the Mtel strategy for providing products, services and package offers accor

BULPROS is the winner in „IT Services Firm of The Year“ at the CEE Shared Service and Outsourcing Awards 2015

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BULPROS is the winner in „IT Services Firm of The Year“ at the CEE Shared Service and Outsourcing Awards 2015
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Twenty-six companies were distinguished on Thursday, 5 February at the 3rd annual CEE Shared Services аnd Outsourcing Awards. BULPROS won the prize in “IT SERVICES FIRM OF THE YEAR” category. BULPROS was shortlisted in the ‘IT Services Firm of the Year – CEE (excluding Poland)’ category for the company’s contribution to the development of the business services sector in Central and Eastern Europe for 2014, sustainable business and delivery excellence.

Ivaylo Slavov, Bulpros’ CEO, received the award at the ceremony. “BULPORS is the first Bulgarian company awarded at the CEE Shared Service and Outsourcing Awards. We are more than delighted that Bulpros was recognized as one of the most prominent companies in this sector and won the “IТ Service Firm of the Year”. This award is a result of the excellent work of our team throughout the years.”, said Ivaylo Slavov.

More than 275 executives attended the gala dinner, from 21 countries across the CEE region, Western Europe, Scandinavia, United States, and India. During the CEE Shared Services and Outsourcing Awards Gala companies from Central and Eastern Europe were recognized for their excellence in  delivery, quality of service, business results and many other factors.

Central and Eastern Europe (CEE) is well-established as a world-class destination for Shared Services and BPO investment. Bulgaria was among the winners this year competing with Poland, known as the strongest location in the region, and other countries such as the Baltics, Czech Republic and Romania. Global outsourcing companies, business services projects and sector professionals were presented with awards of acknowledgment - by an independent jury from the industry - for their contribution to the development of the business services sector in CEE for 2014.

BULPROS is a fast-growing European IT Services company established in Sofia, Bulgaria, which already operates on many European and global markets. BULPROS provides the whole spectrum of IT lifecycle services – software development in all core technologies, design and development of web and mobile solutions and applications, Infrastructure services and Cloud. To support the operations of the clients` IT systems BULPROS provides customer services including helpdesk, application and infrastructure technical support, content and data services as well as telesales and telemarketing services. BULPROS’ Legal Process Outsourcing business line combines processes, technology and fully trained lawyers and paralegals with multilingual knowledge to deliver support services which truly benefit law firms and in-house legal departments. BULPROS team consists of more than 400 consultants in the different professional areas, described in the company’s portfolio.

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Twenty-six companies were distinguished on Thursday, 5 February at the 3rd annual CEE Shared Services аnd Outsourcing Awards. BULPROS won the prize in “IT SERVICES FIRM OF THE YEAR” category.
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Sofica Group with new international recognition for best practices in the outsourcing industry

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Sofica Group with new international recognition for best practices in the outsourcing industry
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Sofia, 1st of September 2014 – Sofica Group, a company of Teletech, is among the finalists in the international competition for the awards of the National Outsourcing Association of the UK (NOA). The company is nominated in the categories “Outsourcing Service Provider of the Year” and “Telecommunications, Utilities and High-Tech Outsourcing Project of the Year”. Over 50 companies and their projects are competing for the prestigious awards in 16 categories.

“For the second time in just a period of several months Sofica Group is being recognized among the most successful companies in the global outsourcing industry, which is a great honour, and a high evaluation of the achieved professional results on the very competitive market of outsourcing services in Central and Eastern Europe. This is an excellent testimonial for our country where the sector is growing and the perspective for the industry is favorable.”, said Stefan Bumov, CEO of Sofica Group, a company of TeleTech.

Bulgaria is also among the favorites for the most attractive investment destination in the outsourcing industry. Its competitors are Fiji, South Africa and Sri Lanka.

“The outsourcing industry is going from strength to strength. Not only it is enjoying significant growth across both the public and private sectors, but its focus is changing too, to truly deliver value add beyond cost savings. This was apparent in many of these award submissions which demonstrated an increasing display of innovation and business transformation through outsourcing. It’s set to be a very exciting Awards ceremony, with strong submissions from many of the industry’s key providers, as well as entries from an increasing number of exciting newer players.”, said Kerry Hallard, CEO of the National Outsourcing Association.

NOA organizes the competition for the 11th time with a record number of submitted applications compared with previous years. It is expected that the winners will be announced on 20th of November during the official ceremony which will be held in London.

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Sofia, 1st of September 2014 – Sofica Group, a company of Teletech, is among the finalists in the international competition for the awards of the National Outsourcing Association of the UK (NOA).
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We will provide Sofica with signficant capital for business expansion

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We will provide Sofica with signficant capital for business expansion

What is your assessment for the investment in Bulgaria, one year after the deal was made?

- We’ve had the intentions of setting foot in Central and Eastern Europe, but we couldn’t find the right targets for acquisition.  After we chose Bulgaria, the management here proved our decision right, by fulfilling all of our plans for growth and profit. Now we intend to provide them with significant financial capital, which they can invest in growth, including through acquisitions. As you most probably know, we are present in 83 countries, and Europe is a market, which until recently we didn’t serve with full value. Therefore, we need larger scale, language capabilities and capacity, and our subsidiary in Bulgaria presents us with such big opportunities. Now we consider that we have to continue developing our presence outside of Sofia. One of the main questions concerning a potential expansion is the government’s plans – whether they are pro-business, or not, and if they think that outsourcing is a priority and they plan to develop it. 

What do you expect from your conversation with the government?

-The more the government demonstrates they’re serious about their intentions to help us with opening new jobs, the more secure we can feel about pouring tens of millions of dollars into the country. Every country we get into offers us great discounts and makes significant concessions. Here we’re not looking for anything doled, apart from assistance in hiring new employees. The help can come in many forms – for example by providing additional education in universities. We are already extending our activities in Bulgaria in new areas that we’ve been developing in other countries, such as data analysis and high-quality services for our Cisco Platform. Hence, we are planning on hiring another 100 engineers. We’re also looking at other areas – mainly in our back-office operations – accounting, legal department and others. Therefore at the moment, apart from our main business, our efforts are aimed in that direction, as well. In the whole of Europe, we are betting on strengthening our marketing and sales divisions that provide us with new clients for Bulgaria. Ever since Sofica Group became part of TeleTech, we have brought three new big clients. Our goal this year is to bring at least six more. I am very happy with the work of the management here, as they fully understand the destination our business is headed to on the technical level.

TeleTech has four separate activities – one of them is the strategic consulting service. We hope to find experts in this area here as well, that we can use for our European business.

You mentioned new acquisitions – can you please share what exactly they would be?

-We are interested in acquiring businesses with area of activities similar to Sofica’s, as well as businesses in the digital sector, especially in mobile communications. For us, companies specializing in data analysis are of an interest, too. So, we’re looking at the whole region for existing opportunities. We found out that in Bulgaria, firms working in these areas are relatively small according to US standards. Therefore, we have to decide whether it’s worth acquiring such a company, or to simply build one from scratch.

The outsourcing sector in Bulgaria has a certain growth limit. What do you think that limit is?

-The Customer Service Industry has different segments. We are involved in the area of Overall Solutions. And this type of activity requires a very good strategy, technologies, digital, social and mobile solutions. I don’t think that such an integral business exists in Bulgaria at the moment. We’re trying to establish such a business here. We don’t want to compete with Indian providers for instance, as for them the key indicator is low employee expense. That does not add any value for the client. We would like to stay focused on our work with the world’s largest banks, telecoms, utility service companies and governments. 

So you are optimistic about the growth of this market here?

-Yes, I am optimistic. But I also won’t exaggerate. I am concerned about what’s happening in the Euro zone, where instability can still be felt. I do not own a magic ball, so I am not aware of what the future holds. The question is - have we hit rock bottom, or we’re still falling down. I think that if the Bulgarian government chooses to be transparent, effective and honest, the economy will start moving, and vice versa.

I have no doubts about that. In the end of the day, the government possesses two very important things – human capital and infrastructure. And your country has got a very good technological infrastructure – take the internet speed for example, and electricity supply is also stable. For instance, in India these factors are in a much worse condition. In the same time, people here are highly educated and qualified. All that’s left is for the government to conduct good politics, so that the people have trust in it. I will give you an example with Ruanda: President Paul Kagame is a good friend of mine. His country prospers, because he is completely transparent in what things he does and how he does them, there is no corruption, and the infrastructure is developing with a very quick pace. And investors choose his country, although it is located in an unstable region.     

The interview was conducted by Konstantin Nikolov

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We’ve had the intentions of setting foot in Central and Eastern Europe, but we couldn’t find the right targets for acquisition. After we chose Bulgaria, the management here proved our decision right, by fulfilling all of our plans for growth and profit.
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