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Overview of EPAM Systems, Inc.
EPAM Systems, Inc. (NYSE: EPAM) is a global IT services firm specializing in digital transformation, platform engineering, and software development. Established in 1993, the company has built an impressive reputation for its expertise in digital transformation, software engineering, and advanced consulting services. Leveraging a robust, award-winning global delivery platform, EPAM addresses complex technology challenges for a diverse range of clients worldwide.
Core Business Areas
EPAM delivers a comprehensive suite of services including custom software product development, platform engineering, consulting services, and cloud and AI-enabled transformation solutions. The company’s business model is rooted in its ability to integrate strategy, technology, and engineering execution, ensuring that organizations can accelerate innovation and maintain a competitive edge. Its offerings extend to cutting-edge fields such as artificial intelligence, data analytics, and digital consulting, making it a critical partner for enterprises aiming to navigate modern technological challenges.
Global Delivery and Operational Excellence
With operations in over 20 countries across North America, Europe, Asia, and Australia, EPAM operates through a distributed yet highly integrated delivery model. This enables the firm to provide local engagement with global expertise, ensuring that each client benefits from region-specific insights combined with industry-leading practices. EPAM’s operational approach emphasizes efficiency, quality, and adaptability, making it well-positioned to manage diverse projects ranging from platform engineering to end-to-end digital transformation initiatives.
Innovation and Technical Expertise
The company is renowned for its commitment to innovation, consistently investing in new technologies and engineering methodologies to meet evolving market needs. EPAM harnesses advanced solutions in cloud computing, AI, and emerging technologies to empower its clients. Initiatives such as its GenAI-enabled capabilities and collaborative platforms reflect its ongoing pursuit of integrating next-generation technologies with practical, business-driven applications.
Client-Centric Consulting and Engaged Partnerships
EPAM’s success is driven by a deep commitment to understanding each client’s unique challenges. By offering tailored consulting services, detailed architectural designs, and agile development practices, the company ensures that clients receive customized solutions aligned with their strategic objectives. The firm also strengthens its market position through strategic partnerships and select acquisitions that diversify and enhance its delivery capabilities, reinforcing its role as a trusted advisor in digital transformation journeys.
Market Position and Competitive Landscape
Positioned among the premier global technology firms, EPAM stands out due to its integrated consulting approach and a proven track record in delivering high-quality software product development. Its expansive geographic reach and continuous investment in emerging technologies enable it to compete effectively against established IT giants and niche players alike. The company’s methodological focus on quality, client engagement, and operational excellence helps maintain its resilience in an ever-evolving technology landscape.
Key Differentiators
- Integrated Global Delivery: Combines local expertise with a global reach to optimize project outcomes.
- Technological Agility: Embraces advancements in AI, cloud computing, and data analytics to facilitate innovative solutions.
- Client-Focused Strategies: Prioritizes deep client engagement and customized solutions across diverse industries.
- Strategic Acquisitions: Enhances its service portfolio and market presence through acquisitions that complement its core competencies.
Conclusion
EPAM Systems, Inc. is a highly competent and globally recognized IT services provider that has successfully combined decades of engineering expertise with a forward-thinking approach to digital transformation. Its commitment to excellence and continuous innovation renders it a reliable partner for enterprises aiming to leverage technology for sustained business growth. With a balanced focus on strategy, execution, and technological innovation, EPAM remains a pivotal player in the competitive IT services domain.
EPAM announced the acquisition of White-Hat Ltd., a cybersecurity firm, enhancing its cybersecurity portfolio and expanding EMEA delivery capabilities. This strategic move aligns with increasing demand for cybersecurity as organizations modernize their digital infrastructure. White-Hat's methodologies and incident response expertise will boost EPAM's capabilities in the Zero Trust Architecture. The acquisition seeks to strengthen EPAM's position as a leader in cybersecurity, addressing evolving threats in the digital landscape.
The MACH Alliance, dedicated to advancing open tech ecosystems, has welcomed over 30 members since its launch in June 2020, now spanning North America, Europe, and Asia. Recent research indicates that 81% of IT leaders plan to enhance MACH elements in their architecture over the next year. The Alliance has secured $1M in funding to support its mission and remains a thought leader in technology innovation, hosting initiatives such as the MACHathon and co-hosting webinars with Forrester. Founding members include EPAM Systems.
EPAM has acquired PolSource, a prominent Salesforce consulting partner with over 350 specialists across the Americas and Europe. This acquisition is driven by the escalating demand for Salesforce-driven digital transformation, allowing EPAM to enhance its Salesforce capabilities and expand its global footprint. By combining forces, they aim to create one of the largest Salesforce partners, enhancing EPAM's client portfolio and delivery practices across 14 countries. The move is a strategic response to the increasing reliance on Salesforce for improving business productivity and profitability.
EPAM Systems, Inc. (NYSE: EPAM) will host a conference call on May 6, 2021, at 8:00 a.m. ET to discuss its first quarter 2021 financial results. A news release with these results will be issued prior to the call. Interested parties can access the call via webcast or by phone. The replay will be available from May 6, 2021, at 11:00 a.m. ET until May 13, 2021, at 11:59 p.m. ET. EPAM continues to be recognized as a market leader in technology and consultancy sectors.
EPAM Systems, Inc. (NYSE: EPAM) announced its agreement to acquire PolSource, a Salesforce Platinum Partner with over 350 Salesforce specialists, to enhance its Salesforce capabilities and facilitate market expansion. The acquisition is expected to close in EPAM's fiscal second quarter, subject to regulatory approvals. PolSource is renowned for delivering digital transformation solutions across various industries and holds multiple Salesforce certifications, which will strengthen EPAM's position in the market.
EPAM Systems reported strong financial results for Q4 and full year 2020, with revenues of $723.5 million, a 14.3% increase year-over-year. GAAP income from operations rose by 32.2% to $112 million, while diluted EPS reached $1.46, up 13.2%. For the full year, revenues reached $2.66 billion, a 15.9% increase. The company anticipates at least 23% revenue growth for 2021 and projects GAAP diluted EPS between $6.65 and $6.86. As of Dec 31, 2020, cash and equivalents totaled $1.32 billion, marking a 41.1% increase from the previous year.
EPAM Systems (NYSE: EPAM) announced the launch of an Industry Advisory Board on January 28, 2021, aimed at enhancing its digital transformation services. The inaugural team comprises industry leaders such as Dr. Mark Boxer, Norm Judah, and Andy Walter, who bring extensive experience in sectors like healthcare, cloud transformation, and consumer goods. This board will be pivotal in navigating technology changes and fostering strategic relationships. Future expansions will include members from various verticals like Insurance and Financial Services, contributing to EPAM's commitment to deliver value to its customers.
EPAM Systems, Inc. (NYSE: EPAM) has been named a Challenger in Gartner's 2020 Magic Quadrant for Application Testing Services. This evaluation reflects the company's ability to execute and completeness of vision, highlighting its systematic approach to quality improvement in application testing. EPAM focuses on cost-effective continuous quality and has invested in next-gen testing services, enhancing offerings like testing-as-a-service, especially for Agile projects. The report assessed 20 providers, guiding leaders in vendor selection.
The MACH Alliance has announced its inaugural MACHathon, scheduled from January 22 to 29, 2021, aimed at leveraging MACH technology in ecommerce solutions. The event encourages participants to develop innovative projects that help society overcome challenges posed by the COVID-19 pandemic, with a theme of "Getting Unstuck". Teams will utilize microservices-based applications and receive mentorship from experts. Awards will be given across various categories, including Maturity, Usability, and the 1st Annual MACHnificent award. Founding members include EPAM, among others.
EPAM Systems has announced a conference call scheduled for February 18, 2021, at 8:00 a.m. ET to discuss its fourth quarter 2020 financial results. A press release with these results will be issued prior to the call. Investors can join the call through a webcast on the company's Investor Relations page or by phone using conference ID: 4899490. A replay will be accessible from February 18 until February 25. EPAM is recognized for its innovative software engineering solutions across more than 35 countries.
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