One of the hottest buzzwords is the word innovation which is circulating around the global information technology world for the last three decades. There are different countries that are considered to the most perfect for the development of software product development; Bulgaria is one of these countries.
Bulgaria is an ideal country for software product investment
Bulgaria is steadily taking over the preferred position among other countries for software development. There is a tradition in software development as well as it is the most fluent linguist country in various European languages which is making it favorable for software development. Bulgaria has a strong image in the eyes of investors due to its membership in European union and also due to the stable macroeconomic environment. All these circumstances are making Bulgaria the most trusted and safest software solution delivery location. The Bulgarian software development industry is offering different types of offshore, nearshore, and onshore delivery options to its allies. Bulgaria is providing the best opportunity for business models according to the client’s priority.
Bulgaria has a stable and sustainable partnership options
Bulgaria is transforming from being a pure outsourcing service provider to an advanced IT consultant. There are stable and sustainable partnerships in Bulgaria due to its going software companies. The companies are guiding their clients regarding the entire value chain cycle of their IT initiative ideas. Software companies are ensuring a high rate of return not just profit optimization over the investment of the client. Investment is less risky, with high sales and more margins for their clients. The companies work in a partnership with their customers in realizing high benefits from extraordinary software delivery featuring high customer satisfaction. In the delivery services of Bulgarian companies, there is no unnecessary code. The working teams work very hard to understand the problem of partners, to propose them a nice profitable idea, to execute their business idea into a successful business with a high rate of return. The final products generated by the Bulgarian software companies have a low cost of ownership; low OPEX/CAPEX. The entire software industry of Bulgaria is known for high-quality assurance and delivery process.
Works according to customer’s preferences
The main objective of Bulgarian software companies is to provide their customer with a support system to leverage the changing technologies and practices. They help clients in making lo to high IT structure, improved organizational performance, world-class quality assurance, and a complex set of research and development operations. The Bulgarian 500 fortune companies are pleased to work with a quality-obsessed, innovative, and talented pool of employees.
A tradition in IT in Bulgaria
There is a tradition in IT in Bulgaria. The country is known for a rich tradition of information technology and development in this sector. In the communist era, the company was the largest manufacturer of PCs. Most of the products were exported by the country to USSR (former). They initially work for software companies or IT-based companies till the 90s. in the era of the 90s, the Bulgarian companies started to emerge as independent software developers. All this is mainly due to the privatization of Bulgarian labs and a healthy inflow of foreign direct investment in Bulgaria. We cannot deny the fact that the founder of the first digital computer was Bulgarian.
Plenty sources of investment
Since the 90s, ICT is developing and paving its way to reach the global market. What factors must be kept in mind while considering a Bulgarian software company, for investing in the Bulgarian software industry, is an important but decisive question.
Here this article is providing you an insightful guide to decide whether you should invest in software development with a software development partner. You have to consider many factors when you are deciding to invest the money in other countries’ business sectors. A similar situation has been faced by the current investor at the same time. All types of factors including micro and macro indicators of the host economy must be studied for making a wise decision.
Let’s take a sight over the data of the Bulgarian economy. Total GDP is getting its 3.6 % share from the outsourcing industry. An increase of 2% in sales volume is expected by the experts at the end of 2020. The total number of employees employed by the software companies is 47200 as full-time employees. According to the BPO ranking Bulgaria is standing at number one position while at seventh position globally. The infrastructure of Bulgaria is well established and it is offering easy access to every part of Europe. Bulgarian internet speed is ranked 20th best network speed. The mobile and web industry has surpassed the worldwide competitors which are making Bulgarian companies
Every coin or every picture usually has two sides. On one side if Bulgaria is offering the best services in the IT sector from all over the world. But there some issues for Bulgarian government, it is a simple thing as you know. Talented multilingual workforce determined to succeed, low operational costs, well-developed infrastructure, and a fast-developing economy. All these have already shaped an excellent platform for collaboration. These new solutions will be mainly driven by Generation Z’s (in other words the Digital Natives) desire and willingness to adopt new technologies.