In a panel discussion, Ivaylo Slavov talks about the future and main challenges facing the technology and business services industry.
Sofia, Bulgaria, November 8, 2021
Ivaylo Slavov, CEO of DIGITALL and Board member at AIBEST, took part in the AIBEST annual industry report event 2021 on November 4th in Sofia, Bulgaria. He joined the panel discussion and expressed his views about the future and main challenges facing the technology and business services industry.
The Association for Innovation, Business Excellence, Services and Technology (AIBEST) announced the results from its annual industry analysis on a special event, which was live-streamed. The official presentation of the report was followed by a dedicated discussion on industry-related topics such as main trends and challenges facing the industry and the pandemic impact on the business services sector.
Key findings: Annual Industry Report 2021
According to the AIBEST industry report, which covered 677 Bulgarian companies operating in BPO and ITO, 2020 has been another year of growth for the technology and business services industry. This sector has been among the few growing industries during the pandemic and, despite the difficult economy, has marked a double-digit growth accounting for 6.6% of Bulgaria's GDP in 2020, or EUR 3.3 bln.
Furthermore, the industry has reinforced its position as a preferred employer, which is evidenced by the increasing employee costs and taxes paid by the companies. Preliminary data for 2021 show that this year's growth will also remain double-digit or even higher. The forecast for 2024 indicates that the industry will continue to expand and be a major pillar in the Bulgarian economy, as its relative share in the country's GDP will reach 11.2%.
Challenges and opportunities facing the technology and business services industry
During the panel discussion, Slavov focused on the constraints and opportunities for the industry to sustain its growth in the long term and pointed out that “The main challenges for the sustainable development of the technology and business services industry are the limitations in the labour market size, particularly the labour shortage. In this regard, the role of AIBEST as an independent industry organization is to work in collaboration with the government institutions in order to overcome this huge challenge.” He explained that Bulgarian companies have increased their presence on the world map and are attracting the interest of investors thanks to their high service quality and good management.
Ivaylo Slavov reminded that so far, the big deals on the Bulgarian IT market were mainly related to product-based companies. In the meantime, however, Bulgarian companies have already demonstrated that they can offer high-tech services and solutions. He also discussed one of the biggest deals for 2021, the merger of BULPROS and ec4u into the new company DIGITALL.
We are DIGITALL – a digital leader born from two technology and business driven consulting companies with more than 20 years of success and experience on the global market. By joining forces, we deliver the next generation Digital Transformation & Digital Cloud Experience to enterprises. We digitalize and protect customers, employees and data. Our customers rely on us to transform their core business processes in a secure way in the digital world.
DIGITALL operates on a global scale with over 1,400 employees across 26 offices in 12 countries located in Europe and North America.
In addition to building a competitive portfolio, our team of expert employees has established strong relationships with strategic technology partners, including Salesforce, Microsoft, IBM, SAP, Oracle, Cisco, Snowflake, Zuora etc.