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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.
On January 12, 2021, EPAM announced a free webinar titled "Trust Over Tools" designed for U.S. banks. Set for January 26, 2021, the session will discuss enhancing customer attraction and retention in the digital banking era. Key topics include the role of trust in consumer decisions, the effectiveness of digital channels versus physical branches, and the future of traditional banking apps. Speakers include prominent figures from EPAM and Wells Fargo. The webinar aims to address the rapid digital transformation in banking accelerated by the pandemic.
EPAM Systems (NYSE: EPAM) has been recognized in Built In's 2021 Best Places to Work Awards, securing awards in New York City and San Francisco for being one of the 'Best Places to Work' and also for 'Companies with the Best Benefits.' This accolade underscores EPAM's dedication to employee welfare, including competitive compensation, health benefits, and career development opportunities. Built In's recognition is based on an algorithm evaluating compensation, benefits, and cultural programs, particularly emphasizing diversity, equity, and inclusion initiatives and remote work opportunities.
EPAM Continuum, the consulting practice of EPAM Systems (NYSE: EPAM), has released its 2021 NXT Trends report, identifying six significant global trends influencing businesses. These trends include the evolution of digital communities, the importance of interoperability, and the challenges of loneliness in public health. The report emphasizes the interconnectedness of modern challenges and their implications for strategic leadership in 2021, urging organizations to adapt amidst ongoing market disruptions. For further insights, access the full report on EPAM's website.
EPAM Systems, Inc. (NYSE: EPAM) and VitalAire have won the 2020 Acquia Engage Award for their innovative online patient portal designed to help diabetes patients manage treatments remotely. This project addresses a critical need for digital patient engagement during the pandemic, improving efficiencies and customer satisfaction for VitalAire. The Acquia Platform facilitated timely development, allowing EPAM to focus on creating a tailored solution. The award highlights EPAM's commitment to delivering engaging digital experiences.
On November 23, 2020, EPAM Systems, Inc. (NYSE: EPAM) was recognized as a leader in The Forrester New Wave™: Computer Vision Consultancies, Q4 2020. EPAM was noted for its innovative computer vision (CV) solutions and a proven track record in implementing projects that drive business outcomes. The report highlighted EPAM's expertise across various domains, with customers praising the company's ability to execute complex projects effectively. Forrester identified EPAM as a top choice for cutting-edge CV solutions, emphasizing its diverse team of specialists.
EPAM Systems, a leader in digital platform engineering, has been named the top IT services company on Fortune's 2020 100 Fastest-Growing Companies list, climbing to #21. This marks the second consecutive year EPAM achieved this honor. The company has nearly doubled its revenue over the past three years and operates in over 35 countries with more than 38,000 employees. EPAM's 10-year revenue CAGR stands at 31%. The pandemic accelerated digital transformation, positioning EPAM as a trusted partner for businesses navigating technology changes.
EPAM Systems, Inc. reported a strong third quarter for 2020, achieving revenues of $652.2 million, a 10.9% increase year-over-year. GAAP income from operations rose to $96.4 million, marking a 19.6% increase compared to Q3 2019. Diluted GAAP EPS increased by 31.9% to $1.53. Cash flow from operations for the first nine months reached $385 million, compared to $162.9 million last year. Looking ahead, the company projects Q4 revenues between $695 million and $705 million, reflecting an expected growth rate of 10.6%.
EPAM has partnered with UNICEF to launch the 'HealthBuddy COVID-19' chatbot app, which is now available for download on Apple and Google Play platforms. The app aims to provide reliable COVID-19 information and support emergency risk communications in Europe. The launch date is October 29, 2020, and the app offers content in English and Russian. EPAM, recognized for its software engineering expertise, continues to innovate in digital solutions, reinforcing its leadership position in the tech industry.
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