Naturally for a mature company with 27 years of experience on the market, part of the international technology group S&T, the strategic management of S&T Bulgaria draws and achieves the perspective goals of the organization. Strategic decision-making and financial security are only the first stage of the company's strategy. These efforts are followed by a policy of the company, which not only provides the resources, but also distributes the responsibilities so that the established structures work productively within the set deadlines and take into account the dynamics of the economic environment. An important task is the development of such operational management, which will most effectively implement the program for the consumption of resources and contribute to the development of new potential.
For S&T Bulgaria the strategic planning is a continuous process of selection and development of alternative solutions. The management of the company skillfully defines the future goals, analyzes the opportunities and threats, assesses the existing potential, establishes the strategic positions, and identifies the main priorities. If there are no favorable opportunities for using the potential built so far, steps should be taken to optimize it in accordance with market needs. As a result, the company is currently implementing optimization tasks such as: implementing SAP, returning accounting processes back to the organization, updating and implementing the human resources program.
Over the last year S&T Bulgaria has expanded its activities in new directions in order to increase its revenues, gain more popularity and gain certain economies of scale in the field of specialization and administration. Strategies for growth through product development and market penetration have been implemented. S&T has acquired the status of an authorized distributor for Bulgaria of the innovative urban parking management system - Mobzzo. The cloud, web-based information system for management of activities related to paid parking provides significant benefits for citizens and municipal transport companies. It has been successfully implemented in several Bulgarian municipalities, with the aim of covering an increasing area of the country. Other services added to the portfolio of S&T Bulgaria are the development, construction, implementation and maintenance of the network connectivity of the transport network - GSM-R. The activities are performed by our team of network engineers and cover 90,000 km of railways throughout Europe, Africa and Asia. This is an example of expansion, based on interaction with companies acquired at the level of S&T Group.
The strategy of business diversification in S&T Bulgaria is a working tool for business development and risk management from the very beginning of the company. Through the implementation of this strategy, assets and capital are divided between two different areas of activity - information technology and healthcare. The goal of reducing the risks of losing future income is being met, and the company has access to completely different markets and new customers, invests current profits in two growing and highly profitable industries, gains access to new technologies and improves its existing portfolio.
Teams of highly qualified consultants, salespeople, service engineers, financiers, quality specialists and marketers work throughout the project life cycle. The largest departments in both divisions are the service structures, which ensure the viability of the customer's solutions. Maintaining a high level of service organization and service benefits not only us and our customers, but also our partners. A continuous process of employee training, coverage of technical and commercial certificates, their renewal and upgrading has been created. This is a strategic investment with high profitability.
Through the inclusion of new products, the use of innovative technologies and the development of specialized solutions, the company is increasingly expanding its portfolio over time and strengthening its relationships with manufacturers and suppliers. It invests in improving the infrastructure that supports its wider supply. The place and role of each product and service in the overall business of the company, as well as the interrelationship between them determine the structure and balance of the portfolio. We have already considered examples of implementation of current and new products in different regions of the country. There is a balanced product portfolio, growing consistently, in line with our own resources and market environment.
The logical connection in the portfolio shows that its elements are united by the characteristics of the products, the necessary knowledge and skills, the benefits for the customers, the methods of marketing and sales. If it turns out that there are products in the portfolio, the result of accidentally caught opportunities that we never wanted to miss, but which have no organic connection with our offer to customers, we review them and remove them from the portfolio. This leads to cost reduction and optimization of processes in our business in a very natural and simple way. Because we know that when built right, the product portfolio is much stronger than a single product. It implies synergies in the field of production, marketing and distribution, is an opportunity to expand the market and achieve stable positions. It creates another serious competitive advantage for S&T.