EPAM Recognized as a Top IT Sourcing Vendor in the UK

Rhea-AI Summary

EPAM Systems has been recognized as a top IT sourcing vendor in the UK, achieving high client satisfaction scores in the 2024 UK IT Sourcing Study by Whitelane Research. Over 300 CIOs from the top IT spending organizations in the UK evaluated nearly 900 unique IT sourcing relationships. EPAM scored 80% in digital transformation and 79% in service delivery quality, both surpassing the industry average of 75%. This recognition highlights EPAM's competitive edge in digital transformation, application services, and innovation metrics. The announcement aligns with similar accolades EPAM received across various European markets throughout 2023 and 2024.

Positive

• EPAM recognized as a top IT sourcing vendor in the UK.
• High client satisfaction scores: 80% in digital transformation, 79% in service delivery.
• Exceeded industry average of 75% in key performance indicators.
• Acknowledgment from over 300 CIOs in one of the most representative voice-of-the-customer reports.
• Consistent recognition across multiple European markets including the Nordics, Netherlands, and Germany in 2023 and 2024.
• Strong competitive differentiation in digital transformation and application services.

Negative

• No concrete financial metrics disclosed in the PR.
• Recognition is more qualitative than quantitative, lacking specific ROI or revenue impact figures.
• Potential over-reliance on third-party validation for market positioning.

Receiving top client evaluation scores across most market averages, EPAM has positioned itself as a leading IT service provider in the UK market

NEWTOWN, Pa., June 11, 2024 /PRNewswire/ -- To maintain growth and remain competitive in today's evolving technological landscape, organizations are partnering with external IT vendors for their expertise to accelerate digital initiatives. EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced it has been named a Top IT Sourcing Vendor in the UK, achieving high customer satisfaction rankings across multiple evaluation criteria by Whitelane Research, an independent organization focused on IT sourcing research across Europe. This latest recognition reflects EPAM's competitive differentiation in digital transformation, application services and innovative transformation metrics in the UK IT sourcing market.

"We're honored to be recognized by our clients as a top IT service provider in the UK," said Balazs Fejes, President of EU and APAC Markets at EPAM. "This evaluation is a testament to the success of our ongoing client partnerships and our commitment to supporting their innovation journeys. We're excited to continue leveraging our Engineering DNA to help clients successfully scale and transform through our strategy, integrated advisory, consulting and design capabilities."

In the 2024 UK IT Sourcing Study by Whitelane Research, more than 300 CIOs from the top IT spending organizations in the UK evaluated close to 900 unique IT sourcing relationships based on key performance indicators and by IT domain, delivering one of the most representative voice-of-the-customer reports on the outsourcing market in the UK. Survey respondents evaluated 34 IT service providers across various performance categories. EPAM received high satisfaction ratings, scoring 80% in digital transformation and 79% in service delivery quality, exceeding the industry average of 75%.

"EPAM has received strong scores from their clients in their inaugural participation in this year's UK IT Sourcing Study, giving them high customer satisfaction rankings across a number of evaluation criteria," said Alex Van Den Bergh, Head of Research, Europe at Whitelane Research. "EPAM's clients have shown particular appreciation for the Company's digital transformation expertise, helping internal teams transition from strategy and planning to design and implementation, and delivering new digital platforms, systems and experiences."

Recognized throughout Europe by Whitelane Research and clients for exceptional customer satisfaction, EPAM assists clients in scaling and transforming across various industries through its cutting-edge strategy, comprehensive advisory, consulting and design expertise. This latest recognition highlights EPAM's continuous efforts to offer the latest digital transformation services, product design and engineering solutions to address the evolving technology modernization needs of UK-based customers.

Recent customer-led recognitions by Whitelane Research have underscored EPAM's performance as a highly competitive IT sourcing vendor across various European markets:

• In April 2024, EPAM was named a top IT sourcing vendor in the Nordics.
• In March 2024, EPAM was recognized as a top IT sourcing vendor in the Netherlands.
• In February 2024, EPAM received recognition from Whitelane Research as a top IT sourcing vendor in Europe.
• In December 2023, EPAM was named a top IT sourcing vendor by Whitelane Research in Germany.
• In September 2023, EPAM gained recognition from Whitelane Research as a top IT sourcing vendor in Switzerland.

To see the full survey results, visit: whitelane.com/united-kingdom-2024/

ABOUT EPAM SYSTEMS 

Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has used its software engineering expertise to become a leading global provider of digital engineering, cloud and AI-enabled transformation services, as well as a leading business and experience consulting partner for global enterprises and ambitious startups. We address our clients' transformation challenges by fusing EPAM Continuum's integrated strategy, experience and technology consulting with our 30+ years of engineering execution to speed our clients' time to market and drive greater value from their innovations and digital investments.

We deliver globally, but engage locally with our expert teams of consultants, architects, designers and engineers, making the future real for our clients, our partners and our people around the world.

We believe the right solutions are the ones that improve people's lives and fuel competitive advantage for our clients across diverse industries. Our thinking comes to life in the experiences, products and platforms we design and bring to market.

Added to the S&P 500 and the Forbes Global 2000 in 2021 and recognized by Glassdoor as a Best Workplace in 2023 and 2024, our multidisciplinary teams serve customers across six continents. We are proud to be among the top 15 companies in Information Technology Services in the Fortune 1000 and to be recognized as a leader in the IDC MarketScapes for Worldwide Experience Build Services, Worldwide Experience Design Services and Worldwide Software Engineering Services as well as a leader in the 2023 Gartner^® Magic Quadrant^™ for Custom Software Development Services, Worldwide.^*

Learn more at www.epam.com and follow us on LinkedIn.

*Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Forward-Looking Statements
This press release includes estimates and statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Our estimates and forward-looking statements are mainly based on our current expectations and estimates of future events and trends, which affect or may affect our business and operations. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. Those future events and trends may relate to, among other things, developments relating to the war in Ukraine and escalation of the war in the surrounding region, political and civil unrest or military action in the geographies where we conduct business and operate, difficult conditions in global capital markets, foreign exchange markets and the broader economy, and the effect that these events may have on customer demand and our revenues, operations, access to capital, and profitability. Other factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the risk factors discussed in the Company's most recent Annual Report on Form 10-K and the factors discussed in the Company's Quarterly Reports on Form 10-Q, particularly under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" and other filings with the Securities and Exchange Commission. Although we believe that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made based on information currently available to us. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

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SOURCE EPAM Systems, Inc.

FAQ

What is EPAM's ranking in the 2024 UK IT Sourcing Study?

EPAM was recognized as a top IT sourcing vendor in the UK.

How did EPAM perform in customer satisfaction in the UK IT Sourcing Study?

EPAM scored 80% in digital transformation and 79% in service delivery quality.

How does EPAM's performance compare to the industry average in the UK IT Sourcing Study?

EPAM's scores exceeded the industry average of 75% in key performance indicators.

Which European markets have recognized EPAM as a top IT sourcing vendor?

EPAM has been recognized in the Nordics, Netherlands, Germany, Switzerland, and Europe overall.

What are the key areas of strength for EPAM according to the 2024 UK IT Sourcing Study?

EPAM's strengths include digital transformation, application services, and innovation metrics.