In the first half of the year, Balkan Services successfully completed Project No. BG05SFPR002-1.019-0035, “New Skills at Balkan Services Ltd.”, funded under the Human Resources Development Programme 2021–2027 and co-financed by the European Union through the European Social Fund Plus (ESF+).

As part of the initiative, employees across the company took part in a specialized trainings designed to strengthen key professional competencies and support the continuous development of our teams.

The training covered the following areas:

• Techniques and Methods for System Implementation with a Target of Achieving 100% Zero Waste in Business Processes
• Management of Digital Services for Software Implementation and Migration
• Production and Delivery of Digital Products for Software Implementation and Migration Projects

Participants gained valuable knowledge and hands-on experience in business process analysis and optimization, digital service management, Agile methodologies, and the effective delivery of digital solutions.

Through the programme, employees enhanced their ability to identify opportunities for process improvement using Zero Waste principles, manage software implementation and migration projects more effectively, and plan, develop, and deliver high-value digital products.

The newly acquired expertise contributes directly to greater operational efficiency, improved resource utilization, and the continued enhancement of the services we provide to our clients. It also strengthens our teams’ ability to design innovative solutions that support digital transformation and sustainable business growth.

This project reflects Balkan Services’ ongoing commitment to investing in people, fostering continuous learning, and building the expertise needed to deliver sustainable and effective business solutions in an ever-evolving digital environment.

Balkan Services has successfully delivered a SAF-T submission to the National Revenue Agency (NRA) for a client, using Oracle NetSuite and the company’s proprietary NetSuite SAF-T module.

The file contained full, real-world data, was submitted on time, and was accepted without errors – marking a significant milestone in the practical implementation of the new regulatory requirements.

From 1 January 2026, around 460 of Bulgaria’s largest companies are now required to submit a monthly SAF-T file to the National Revenue Agency (NRA). The new requirement is technically complex, particularly for companies running international ERP systems that have no ready-made local integration.

SAF-T Reporting and the Role of ERP Integration

SAF-T requires the provision of detailed accounting and transactional data in a strictly structured format, extracted directly from ERP systems. The process is a technological challenge that demands expert preparation and precise software integration aligned with the revenue agency’s requirements.

“The successful SAF-T filing using client’s real data, accepted without errors by the NRA, proves that proper ERP integration is the key to achieving compliance with the new regulatory requirements,” said Mariana Koleva, Head of NetSuite ERP and Partner at Balkan Services.

The NetSuite SAF-T Module and Live Filing

Using the SAF-T module within Oracle NetSuite, Balkan Services automated the data extraction and generation of an XML file structured in accordance with SAF-T requirements and ready for filing with the NRA.

For more on the new SAF-T regulation: Balkan Services supports businesses with two preparation approaches for SAF-T 2026

Expertise Across Different Companies and ERP Solutions

Balkan Services supports not only its Oracle NetSuite clients, but also companies using other ERP systems and those with more complex IT environments. We offer adaptation and enhancement of systems such as Atlantis ERP and SoftOne, as well as standalone data consolidation solutions for SAF-T. This demonstrates the company’s expert capacity to support a wide range of organisations in achieving full compliance with NRA requirements.

The filed SAF-T report demonstrates how the right ERP integration and Balkan Services’ expertise enable our clients to meet NRA requirements accurately and on time. It shows that companies can adapt their ERP systems to the new SAF-T rules and carry out their monthly filings reliably – without additional corrections or manual processing.

If your company is preparing to file SAF-T reports, contact us.

In March, Balkan Services started Project No. BG05SFPR002-1.019-0035, “New Skills at Balkan Services Ltd.” It is funded by the Human Resources Development Program 2021–2027 and co-financed by the European Union through the European Social Fund Plus. The first training session covered “Techniques and methods for implementing systems with a target of 100% zero waste in business processes.”

The training involved 30 employees from all company teams, who acquired specific skills over 20 training hours.

The specialised training on the zero-waste approach strengthened skills for effectively identifying and eliminating inefficient processes by using new tools.

Through the training, participants gained practical knowledge and skills. With the experience gained, employees have the opportunity to better optimise business processes by applying the Zero Waste methodology, which will reduce inefficient steps, improve resource efficiency, and minimise operational costs, both in client-facing work and internally at Balkan Services. The implementation of this activity also enhances employees’ capacity to develop innovative digital solutions that align with the principles of sustainability and efficiency in clients’ business processes.

The project supports the company’s commitment to lifelong learning and ongoing skill development. 17 more employees from the product teams will undergo training on the topics: “Management of Digital Services for Software Implementation and Migration” and “Production and Delivery of Digital Products during Software Implementation and Migration.”

Balkan Services announced a strategic investment in IT consulting company BizLink. Through this partnership, the company is expanding its portfolio with BizLink’s long-standing experience in CRM integrations and broadening its capabilities to provide comprehensive integrated solutions to its customers.

The deal marks a milestone that aligns with Balkan Services’ 20th anniversary and drives the company’s ambitious, long-term strategy for sustainable growth.

BizLink is a recognized expert in the field of CRM solutions with over 15 years of experience, 150 successfully implemented projects, and a portfolio of more than 50 active clients from various industries. The company has a highly qualified team specialising in implementing, adapting, and consulting on leading CRM platforms, including Monday.com, SugarCRM, SpiceCRM, and Salesforce.

The combined ecosystem of Balkan Services and BizLink strengthens their synergy and offers clients an integrated portfolio of high-value services and software solutions.

“Market dynamics and the development of our projects clearly show that businesses are looking for comprehensive solutions from a trusted partner. By acquiring a majority stake in BizLink, we are expanding our capacity and expertise to respond even more fully to these expectations,” commented Vladimir Rashev, managing partner at Balkan Services, on the deal.

“The strength of this deal lies in the people and their complementary expertise. Our long-standing know-how in CRM systems, combined with Balkan Services’ broad portfolio, will enable us to deliver even more ambitious projects for our clients,” added Strahil Razvigorov, CEO of BizLink.

At Balkan Services, we conduct annual targeted measurement and analysis of client satisfaction as a key tool for developing and improving our services. Feedback from each client is of strategic importance to us and serves as a basis for planning specific actions and sustainably building on our partnerships.

The data from the latest survey, conducted at the end of 2025, shows an exceptionally high level of satisfaction—99% of participating clients say they are satisfied with our joint work and with the successful completion of projects.

We particularly value the fact that more and more customers are choosing to openly and articulately share their opinions about our joint work. This feedback is a key factor for our sustainable development and the continuous improvement of the services we offer.

The survey highlights five key aspects that clients value most highly in their work with us:

• quick response and effective assistance in urgent and ongoing cases;
• high professionalism, accuracy, and precision in execution;
• clear, timely, and constructive communication;
• high quality of services and solutions offered;
• flexibility and ability to adapt to specific customer needs.

The results of the survey confirm Balkan Services‘ position as a reliable partner with a clear client focus and continuous improvement of services.

We also greatly value constructive recommendations for improvement in specific aspects of our business. We approach all feedback with a high degree of responsibility, analyzing it in detail and turning it into concrete actions for development and improvement.

We would like to thank all our clients and partners for their trust over the years!

Balkan Services will implement a project under the Human Resources Development Program for employee training.

In November, an Administrative Agreement for the provision of grant financial assistance No. BG05SFPR002-1.019 -0035-C01 for the implementation of a project entitled “New Skills at BALKAN SERVICES Ltd.”, funded under the Human Resources Development Program 2021-2027, co-financed by the European Union through the European Social Fund Plus.

The project includes targeted training for employees, which will improve their skills and competence.

More about the project in the attached file: HERE.

The Balkan Services team has completed its largest ERP project to date – the implementation of the Oracle NetSuite cloud solution at Quadrant Beverages, part of the international Mattoni 1873 group and the official manufacturer and distributor of PepsiCo beverages for Bulgaria.

The project involved replacing the old ERP system, integrating with the new SFA software, and automating key business processes, including warehouse management (WMS), batch traceability, EDI exchange, and group reporting. As a result, Quadrant Beverages achieved greater transparency, efficiency, and adaptability in its daily operations.

The implementation faced several challenges due to the scale and complexity of the business requirements, but thanks to focused project management, an agile approach, and close cooperation between teams, the system was successfully implemented and deployed to a productive environment on October 1, 2024.

Quadrant’s high level of commitment also contributed significantly to the success, with its team working closely with consultants and demonstrating a strong commitment to each stage of the project.

As a local partner, Balkan Services provided not only technical expertise but also ongoing on-site support, which proved to be a decisive factor during the hypercare period and the subsequent development of the solution. The implemented support model, in which the implementation team remains involved in successive stages, ensures the long-term continuity and sustainable development of the system.

With this large-scale, complex project, the Balkan Services team has once again reaffirmed its commitment to one of its core values – bringing every endeavour to a successful conclusion. Our continuous development and desire to be a trusted partner in digital transformation are at the heart of everything we do. We build solutions with a deep understanding of our clients’ businesses, walk alongside them on the path to sustainable growth, and adapt together to every new challenge.

There is a term for business successes that have occurred without any planning or consideration of the processes taking place inside and outside the company. That word is “coincidence.” In a world of global markets, technological changes, and constant geopolitical shifts, every step must be well thought out—both months in advance and immediately before it is taken.

Financial planning is not just a series of numbers updated annually. It sets the direction for the entire company – it determines what products and services will be developed, where investments will be directed, and what specialists will be hired or dismissed. It is a process with a high level of responsibility. And now, more than ever, it is imperative that the approach to it be reviewed.

According to a KPMG study, between 60% and 80% of companies fail to implement their strategies, and fewer than 5% of employees are either unaware or do not understand that such strategies exist. These two conclusions are related. The traditional financial planning and analysis (FP&A) process is based on models from a time when it was acceptable for systems, data arrays, and entire departments not to “talk” to each other and to exchange incompatible information sporadically.

This creates significant risks of technical errors during manual entry and heavy IT dependencies due to the specific solutions that must enable each process. It is not surprising that, in a study by International Data Corporation among 370 CFOs, nearly half (46%) see a need to improve financial planning and modelling.

In many cases, information that was previously difficult to collect is not updated until the next budget is prepared.

“When something remains static and resistant to change, it gradually loses its meaning, and no one pays attention to it. If you can’t compare the planned budget with the actual results—and do so easily—you actually have no idea where you are and why you got there,” explains Desislava Bulgaranova, Head of Finance Systems and Solutions Department and Partner at Bulgarian system integrator Balkan Services, to Money.bg.

What is xP&A?

The dynamic business environment necessitates a fresh perspective on the future. This is where the concept of extended planning and analysis (xP&A) comes in—an innovative approach to financial and operational planning and analysis. It is based on data. Information from all key departments – including finance, sales, operations, marketing, HR, and others – is consolidated and standardised in a single source, accessible in real-time. This enables modelling of different scenarios with a high degree of detail, allowing for informed decisions at any given moment.

Antonina Moteva, Managing Financial Systems and Solutions Consultant at Balkan Services, gives a concrete example of how xP&A solutions work to the benefit of the business:

“Let’s assume that we are a product sales company and we understand that a competitor is lowering prices and undercutting the market. In this situation, the company must react quickly. With an xP&A solution like this, where everything is integrated in one place, it can instantly change a parameter—such as reducing prices—and immediately see the impact of that action on all other indicators.“

In addition, automation eliminates dependencies on the human factor. In theory, complex planning can also be done using linked Excel files with complex formulas, but in practice, even a single incorrect value can compromise the entire process. In addition, usually only a limited number of people in the company understand how these key tables work, which makes a multimillion-dollar business “hostage” to a few files or one person. Automation eliminates this risk, ensuring security and transparency.

Collecting and unifying data in a format that is understandable and applicable to financiers is invaluable in preparing the often highly complex company budget. In this way, information—from machine hours of production equipment to the risk of losing key personnel—is transformed into metrics relevant to planning.

“The point is to provide data to financiers so that they have time for big strategic decisions. That’s their job—not to collect detailed information,” says Desislava Bulgaranova emphatically. She adds: “Planning is a team sport, but a united team that looks in one direction and sees the goal.”

Lucanet xP&A offers a practical solution to these challenges – a proven system that is part of the Lucanet business software developer’s platform and is implemented in Bulgaria by the Balkan Services consulting team.

Lucanet xP&A is a cloud-based solution with ready-made connectors for seamless integration with the most popular ERP, HR, and CRM systems. Thanks to the partnership with the manufacturer, connectors for more specific systems used in our market can also be created if necessary. The system also allows data to be fed from individual files and tables.

The planning models are created by the responsible participants in the planning and budgeting process. No software developer or additional programming by an internal IT team is needed—different versions/scenarios of the budget can be “played out” by changing the initial assumptions, which helps us see what could happen in the best or worst case scenario,” adds Bulgaranova.

This IT independence is crucial in situations where sudden and rapid changes are needed – for example, at the beginning of the pandemic in 2020, crisis budgets replaced all approved company budgets, and many organisations had to develop survival scenarios.

If a model still needs to be programmed and tested, in the best-case scenario, an opportunity for greater profit will be missed; in the worst-case scenario, it could prove fatal to the business.

As part of the Lucanet ecosystem, xP&A enhances the financial planning module by enriching it with operational data.

The system, following trends, also has AI agents. Based on accumulated experience, various scenarios are presented, with AI continuing to learn and improve during the work process. With the development of generative artificial intelligence, its application in finance is expected to expand, providing more opportunities to create added value.

“The AI assistant can be used to suggest new variables to be added to the relevant model. It suggests variables and formulas completely independently, including adding new hard-coded assumptions, which are then used in its calculations,” explains Antonina Moteva.

It is essential to emphasise that artificial intelligence provides recommendations, but the decision ultimately remains with the user—they choose whether to apply them directly, adapt them, or reject them.

Analyses lose much of their value without effective data visualisation. Lucanet xP&A offers a wide variety of graphs and charts designed for both top management and operational teams. A significant advantage is that the visualisations are dynamically linked to the underlying data in real time.

“When you have a visualisation in front of you, you get instant access to the parameters included. You see that profits are growing, and you can immediately drill down into the details to understand why. This way, the focus remains on strategic issues instead of wasting days preparing graphs,” explains Antonina Moteva.

An additional advantage highlighted by Balkan Services is the versatility of the solution—Lucanet xP&A applies to various companies, both in terms of scale and industry.

The consulting company Balkan Services ranked fourth among the most prominent IT consulting companies in Bulgaria, according to the annual ranking Digitalk 101: The Largest Technology Companies in the Country, published by Capital.

This position is proof of the company’s consistent development and its sustainable role as a trusted partner in the digital transformation of Bulgarian business.

In 2024, Balkan Services consolidated its position among the leading IT consultants in Bulgaria, implementing several strategic projects in various industries.

Among the most significant achievements is the implementation of the Oracle NetSuite ERP system at Quadrant Beverages, which transformed key business processes – from production and logistics to finance and reporting.

The company also completed other large-scale projects, including:

• The businessPace BI solution at Bulteks 99 optimises sales analysis and inventory management.
• The Lucanet CFO Solution for financial consolidation at Sunotec, which consolidates data from over 80 companies and automates the reporting process.
• The Lucanet CFO Solution platform at APS Trading for real-time financial planning and budgeting.
• The new ERP solution Enterpoint is being implemented in nine companies from the MFG group, including Easy Credit and White Card.

Along with successful implementations, Balkan Services also assists its clients in preparing for key changes such as the transition to the euro.

According to an analysis by Capital, the IT consulting segment has seen one of the most significant growth rates over the past year, highlighting the strategic importance of these services for companies in a dynamic market environment and with increasing demands for efficiency. The growth is due to the accelerated adoption of cloud technologies, the rise of artificial intelligence, and the need for higher cybersecurity.

Against this backdrop, Balkan Services’ position among the sector leaders confirms both the expertise of its team and the company’s ability to deliver added value to its customers.

The Balkan Services team has many years of experience in developing solutions for reporting and integration of ERP systems. In addition to our expertise in Bulgaria, we have real experience in implementing SAF-T in Romania, where the standard is already mandatory. This gives us a clear understanding of the specifics, challenges, and best practices in such projects.

We offer solutions in two main areas, depending on the needs of companies:

• Adaptation of existing ERP systems – configuration and upgrading of existing platforms for generating SAF-T files. Our specialists have expertise with leading systems such as Oracle NetSuite, Atlantis ERP, and SoftOne.
• External platform for companies with multiple and unrelated systems, as well as for companies that already have integrated ERP systems but are looking for an alternative external platform for SAF-T management – a flexible solution that can consolidate data from different sources (ERP, warehouse and accounting systems, banking platforms, specialized or custom-developed systems) and ensures standardized submission of information to the NRA. This is the optimal choice for organizations with a more complex IT environment that are looking for fast and effective compliance.

Why Balkan Services?

• Real experience in implementing SAF-T in Romania
• Practical knowledge of extracting data from over 45 systems for analysis as part of our BI and Data Analytics projects
• In-depth knowledge of Bulgarian tax and accounting legislation;
• Proven experience in ERP implementations and integrations in various industries – finance, trade, manufacturing, logistics, and others

What is SAF-T, and when does it come into force?

From the beginning of 2026, the National Revenue Agency (NRA) will be introducing SAF-T (Standard Audit File for Tax) – a standardized electronic format for the exchange of accounting and financial data.

The new requirements will be implemented in stages to increase transparency and efficiency in tax control.

Phases of SAF-T implementation in Bulgaria:

• Phase 1 (January 2026) – covers the largest companies in the country with an annual turnover above the specified threshold (by the criteria of the ). These organizations have already been officially notified of their obligation to submit SAF-T files.
• Phase 2 (expected after 2027) – will also affect medium-sized enterprises, with the scope gradually expanding to smaller companies over the next few years.

This means that if your company is among the largest in Bulgaria, it is essential to start preparing for the new requirements promptly. Medium-sized companies should also prepare early, as the transition to SAF-T requires time for implementation, training, and adaptation of processes.

More information about the deadlines and requirements of SAF-T can be found on the official website of the National Revenue Agency.

Contact us to discuss the most suitable technical solution for your organisation.