Nikolay Prodanov in an interview with Forbes about Eltrade in the self-service economy

A trip to Spain becomes the beginning of an inspiring story. The owner of Eltrade told Forbes Bulgaria magazine how his idea was born, with which he successfully managed to change the standard methods of customer service.

In his conversation with Forbes, Nikolay Prodanov revealed that the main motivation for the development of self-service devices arose after a trip to Spain, where he was with his about a hundred employees of the company’s “team building”. There he learned about the serious losses of money from theft of a cash register by employees after his conversation with a local entrepreneur. This gave impetus to N. Prodanov to implement his own long-term project, namely the development of a self-service device.

In the self-service economy, “the machine does not go on vacation, does not get sick, works 24 hours a day and does not steal.” He sees process automation not only as a solution to specific problems, but also as an opportunity to create an innovative solution that not only improves the efficiency of commercial operations, but also provides security and protection of financial transactions for any enterprise.

photo: Forbes Bulgaria magazine
photo: Forbes Bulgaria magazine

As a result, Eltrade decided to introduce its own vending machine model for small and medium-sized businesses. This model has already been successfully implemented and works flawlessly in several well-known fast food establishments in Bulgaria, among which are “Gyros Land”, “Algafari Shawarma”, “Hesburger” and others. In addition to fast food restaurants, a number of businesses are interested in automating the checkout workplace with a model from the ELTRADE SMART PAY series. Among these companies that join the Eltrade customer network in an effort to facilitate their service through the use of automated solutions are the Kokolandia adventure park in Sofia and the tent of the Ivanov Circus.

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photo: “ELTRADE SMART PAY”

The self-service technology thus created begins to transform its original goals and generate benefits for users of various businesses. In order to limit free access by passing people, the Austrian chain “OMV” sets a new task for Eltrade – to produce a vending machine with a fee of BGN 1, which will be collected for the entrance of the toilets. In front of Forbes magazine, Nikolay Prodanov admits that the company has gone through several options until one of their latest projects – “Paid Toilet System” – was “obtained”, which is successfully gaining popularity among gas station chains.

With his innovation and technical expertise, Nikolay Prodanov describes himself as an inventor rather than an entrepreneur, tracing his professional path from the Department of Electronics at the Higher School of Economics in Sofia to his own business for the production of electronic fiscal devices and solutions. His rise in electronics and engineering stands out for a series of innovative projects and technological solutions that are transforming business and society.

With its latest project – the implementation of parking systems, the Eltrade team not only demonstrated high technical competence and flexibility, but also the ability to solve real problems faced by various institutions and companies. This project is a response to the specific needs for vehicle access control, effectively addressing the challenges related to the organization of the parking space.

With their innovative solutions and commitment to technological progress, Nikolay Prodanov and Eltrade continue to change the face of the modern business space, providing sustainable and high-quality technological solutions for various spheres of society.

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