The journey of Musala Soft with Qinshift: Stability and Growth in 2024

27 Jun 2024

The journey of Musala Soft with Qinshift: Stability and Growth in 2024 The journey of Musala Soft with Qinshift: Stability and Growth in 2024

Stanislav Ovcharov, Executive Board Member and VP of Integration at Qinshift for

What has changed for Musala Soft since the company became part of Qinshift?

Although Musala Soft’s team continues to focus on the portfolio of clients we entered the group with, the major change is the scale and ambition. Every unit of the company is integrated and part of the global structure. Becoming a significant part of one of the largest software companies in Europe (with over 7000 employees) is exciting and challenging at the same time. For instance, the teams serving clients in the banking sector are now part of the global BFSI vertical, and their daily agenda includes Qinshift’s global plans for the sector’s development. Every specialist at Musala now has the opportunity to work on group projects. Talent management processes have also been integrated, with Musala Soft‘s department heads now managing global functions at the Qinshift level.

How did your employees react to the change?

Every change initially brings about fear of the unknown, regardless of the prospects. Timely and intensive communication is key. What I can say is that we are now entirely focused on development and growth. Many colleagues from Musala have already taken on key global roles, and this process is ongoing. Our clients in the technology sector are recognized as leaders in the respective part of the TMT (telecom, media, and technology) vertical. Accordingly, colleagues from Musala now hold key positions in the business development and project execution within this sector at the Qinshift level. The company’s performance is at the forefront both in financial terms and in growth during the current 2024. The sense of stability, the presence of a long-term strategy, and Qinshift’s ambitions for global leadership bring positive expectations for everyone.

What kind of people are you currently looking for?

The profile of the specialists we hire has not changed since joining Qinshift. The current economic climate is shifting the demand more towards experienced, seasoned specialists, but the range of technologies remains very broad, and we continue to actively train and develop specialists with less experience. The change in the working process is related to the already established concept of global access to talent. This means that just as specialists from Musala are already involved in projects of the parent company, for example in Sweden or Poland, when we need to start a new project, we can engage specialists from Poland, the Czech Republic, Ukraine, etc.

How will the new decision-making structure work?

Making business decisions fully follows the global corporate structure of the company and the respective rules and policies. The company is divided into business units, each with its own budget, leader, rules, and approval chain. The global goal is for Qinshift to operate as a single entity without geographical silos. An employee of the company will feel the same way, no matter whether they work from the office in Sofia, Prague, Cologne, Malmö, or Warsaw.

What are Musala Soft’s mid-term and long-term goals and plans?

The immediate goal for Musala Soft is to complete the integration into Qinshift’s structures by the end of 2024. However, the most interesting part is yet to come. We expect to expand our service portfolio towards business consulting, along with aggressive organic and inorganic growth. The company already has a presence in Latin America, but we are set to become even more global. As a mid-term goal, we are planning an IPO on the New York Stock Exchange.