About EPAM Systems
EPAM Systems, Inc. (EPAM) provides digital engineering, cloud and artificial intelligence-enabled transformation services. The company operates as a leading business and experience consulting partner for global enterprises and ambitious start-ups. The company addresses its clients' transformation challenges by fusing EPAM Continuum's integrated strategy, experience and technology consulting with its 30+ years of engineering execution to speed its clients' time to market and drive greater value from their digital investments. The company delivers business and technology transformation from start to finish, leveraging agile methodologies, proven customer collaboration frameworks, engineering excellence tools, multidisciplinary teams and its award-winning proprietary global delivery platform. The company supports its customers while enabling them to reimagine their businesses through a digital lens. In a business landscape that is constantly challenged by the pressures of digitization, the company focuses on building long-term partnerships with its customers through innovative and scalable software solutions, integrated strategy, experience and technology consulting, and a continually evolving mix of advanced capabilities. The company's historical core competencies, which include software development and product engineering services, combined with its work alongside global leaders in enterprise software platforms and emerging technology companies, laid the foundation for the evolution of its other offerings. These include advanced technology software solutions, intelligent enterprise services, and digital engagement. The company's strategic acquisitions have expanded its geographic reach and service capabilities and will continue to enable it to offer a broader range of services to its customers from a multitude of locations. Services The company turns its customers' operations into intelligent enterprise hubs with its proprietary platforms, integrated engineering practices and smart automation. Developing a digital experience or product from end-to-end requires input and expertise from a variety of professionals with a broad range of skills. The company's multi-disciplinary teams and global delivery framework come together to deliver well-rounded technology solutions. In addition to utilizing its dedicated delivery centers, which allow the company to deploy key delivery talent, it works closely with leading companies in various industries to enable its customers to better leverage technology and address the simultaneous pressures of driving value for their consumer and offering a more engaging experience. The company's service offerings continuously evolve to provide more customized and integrated solutions to its clients. The company combines software engineering with customer experience design, business consulting, strategy, and technology innovation services in areas such as cloud platforms, cybersecurity and artificial intelligence. Engineering The company's engineering foundation underpins how it architects, builds and scales next-generation software solutions and agile delivery teams. The company's engineering expertise allows it to build enterprise technologies that improve business processes, offer smarter analytics and result in greater operational excellence through requirements analysis and platform selection, complex customization, cross-platform migration, implementation and integration. The company has deep expertise and the ability to offer a comprehensive set of software product and platform development services, including product research, customer experience design and prototyping, program management, component design and integration, full lifecycle software testing, product deployment and end-user customization, performance tuning, product support and maintenance, managed services, as well as cross-platform migration and modernizing legacy platforms. The company uses its experience, custom tools and specialized knowledge to integrate its customers' chosen strategy and create custom solutions in order to architect the right solutions with built-in quality and security gates and accomplish the best outcome from the digital modernization efforts. Cloud The company assists its clients in creating a roadmap to set and refine their IT and business goals while identifying new and emerging cloud opportunities. Cloud technology endows adaptive enterprises with agility and flexibility, paving the way for new business models, cutting-edge products, and the acceleration of dynamic experiences for a faster time-to-market. The company's experts have a solid understanding of infrastructure and are skilled at advancing the pace of change. Additionally, the company assists its sclients with developing and executing optimal cloud technology migration strategies and provides customized cloud solutions. Data, Analytics and Artificial Intelligence With deep expertise in data and analytics, business intelligence and cloud platform development, the company navigates the complexities of building and scaling new data capabilities necessary for the evolving environment. From migrating data platforms to the cloud to implementing data governance practices across the enterprise, the company helps its customers unlock data-reliant outcomes for their business, ushering them into the future. The company's integrated teams of business and technology experts assess its customers' data ecosystems, build roadmaps and deliver data solutions to the market. The company drives artificial intelligence (AI) and generative AI strategy, delivery and enablement from a business perspective to ensure meaningful, sustained outcomes. The company's hybrid, networked teams of consultants, designers, architects, engineers and trainers have developed numerous proprietary data accelerators, repeatable AI frameworks and methodologies that can be implemented quickly and at scale. With its end-to-end AI capabilities, the company uncovers opportunities for AI, advise and then build solutions that unlock new business models, enhance productivity, automate operations, and deliver deeper customer and supply chain insights. Customer Experience The company enables its customers to better leverage technology more effectively, addressing the simultaneous pressures of driving value for their consumers and offering more engaging experiences. The company applies innovative design ideas for customers looking to improve user experiences and drive greater customer engagement. The company assists them in digitally transforming into adaptive, product-centric organizations that reinvent experiences in real time. Additionally, the company specializes in physical experience where it conceives, develops physical products and designs spaces for a digital world. Within its customers' organizations, the company reshapes processes for the workforce through engaging, enabling and empowering experiences. Moreover, the company helps set up marketing teams and brands to remain relevant in the future. Cybersecurity The company guides its clients through the process of achieving operational resilience against evolving cybersecurity threats. This requires pervasive security that matches the rapid pace of agile development, ensures regulatory compliance and training, and aligns with business objectives. The company helps its clients achieve their security objectives through adding security controls into systems and processes and deploying its agile security platform and AI-driven tools that allow for rapid threat responses and attack simulations. The company approaches enterprise security holistically, extending its services across proactive defense and actionable intelligence to engineer an effective security model. The company's specialties within the cybersecurity domain include managed detection and response, digital risk management, cybersecurity advisory, cloud and data security, ransomware protection, zero trust design and implementation, and cyber intelligence and managed incident response services. Industry Expertise Strong industry-specific knowledge, backed by extensive experience merging technology with the company's customers' business processes, enables it to deliver tailored solutions to various industry verticals. The company's customers operate in five main industry verticals, as well as a number of emerging verticals where it is increasing its presence. Financial Services: The company has significant experience working with global investment banks, commercial and retail lending institutions, credit card and payment solution companies, trading platforms, exchanges and brokerages, capital markets, wealth and investment management institutions, insurers and various other providers of financial services and financial technology. The company assists these customers with challenges stemming from new regulations, compliance requirements, customer-based needs and risk management. The company's financial services domain experts have been recognized with industry awards for engineering and deploying unique applications and business solutions that facilitate growth, competitiveness, regulatory compliance and customer interaction while driving digital transformation. Travel and Consumer: In this vertical, the company's capabilities span a range of platforms, applications and solutions that consumer goods manufacturers, global, regional and local retailers, online retail brands and marketplaces, distributors and supply chain organizations, as well as leading airlines, travel agencies and global hotel brands use to enhance their customers' experience and efficiently manage their operations. The company delivers a wide range of services to these customers from complex system modernization, brand strategy and space design, digital marketing, payments and loyalty programs to inventory and order management, leading edge innovations in multi-channel sales and distribution. The company has transformed organizations by enabling them to use technology to expand and revolutionize their business models. The company's services and high-quality tools directly impact the creation of breakthrough products and compelling brand and employee experiences, helping companies become more adaptive and address market challenges. Software and Hi-Tech: The company offers complex software product development services to address the constant need for innovation and agility among software and technology companies. Some of the most prominent software brands in the world partner with the company to build technology consulting, core engineering and full-scale integration capabilities. Through its extensive experience with many industry leaders in Hi-Tech research and development, software engineering and integration, the company has established proprietary internal processes, methodologies, as well as information technology infrastructure, which give it an edge when it comes to serving customers in the Hi-Tech and Software product markets. The company's services span the complete software development lifecycle for software product development, including its comprehensive development methodologies, testing, performance tuning, deployment, maintenance and support. Business Information and Media: The company helps its business information and media customers build products and solutions for all modern platforms including web media streaming, mobile information delivery, print to digital transformations and information discovery and search. The company's solutions help its customers in developing new revenue sources, accelerating content management, delivery and monetization, and reaching broader audiences. The company serves a diverse set of customers in this vertical including entertainment media, news and sports broadcasting companies, financial data and legal information providers, content distributors, educational materials publishers and advertising networks. Life Sciences and Healthcare: The company partners with global pharmaceutical, medical and scientific technology, biotechnology companies and retail pharmacies to deliver sophisticated scientific informatics and innovative enterprise technology solutions. The company's Life Sciences experts utilize their extensive technology skill set to provide deep scientific and mathematical knowledge to broad-based initiatives. The company's Life Sciences solutions enable customers to speed research and accelerate time-to-market while enhancing collaboration, knowledge management and operational excellence. The company helps its customers in the Healthcare industry to adapt to changing regulatory environments and improve the quality of care, all while managing the cost of care through integrated health solutions for patients and providers and human-centered design. The company's professionals deliver an end-to-end experience that includes strategy, architecture, development and managed services to customers ranging from the traditional healthcare providers to innovative startups. Emerging Verticals: The company also serves the diverse technology needs of customers in the energy, telecommunications, educational, real estate, automotive and various manufacturing industries, as well as government entities. For these customers the company develops tools, such as plant management platforms, energy saving applications, inventory management mechanisms, and connected vehicle platforms. Additionally, the company undertakes various industry-specific aspects of intelligent automation and operational efficiency. Customers The company maintains a geographically diverse client base in multiple industries. The company's focus on delivering quality service is reflected in established relationships with many of its customers, with 65.6% and 28.2% of its revenues in 2023 coming from customers that had used its services for at least five and ten years, respectively. The company continually evaluates potential acquisition targets that can expand its vertical-specific domain expertise, geographic footprint, service portfolio, client base and management expertise. Global Delivery Model The company's global delivery model and centralized support functions, combined with the benefits of scale from the shared use of fixed-cost resources, have created a delivery base whereby its applications, tools, methodologies and infrastructure allow it to seamlessly deliver services and solutions from its global delivery centers to global customers across the world. As of December 31, 2023, the company had approximately 47,350 delivery personnel consisting mainly of its core information technology professionals as well as consultants, designers, architects, engineers and trainers. The company serves its customers through on-site, off-site and offshore locations across the world and use strategically located delivery centers to offer a strong, diversified and delivery platform. The company's largest delivery location, measured by the number of delivery professionals, continues to be Ukraine where it had 9,113 delivery professionals as of December 31, 2023. As of December 31, 2023, the company employed delivery professionals in more than 50 countries. The company's second and third largest delivery locations are ndia and Poland with approximately 7,050 and 5,400 delivery professionals, respectively, as of December 31, 2023. The company's global delivery centers in Ukraine and throughout the world have sufficient resources, including infrastructure and capital, to support ongoing operations. During 2022, a significant number of the company's employees in Russia and Belarus relocated. On March 4, 2022, the company announced its decision to discontinue its services to customers located in Russia and on July 26, 2023, the company completed the sale of its remaining holdings in Russia to a third-party. As of December 31, 2023, the company employed approximately 3,500 delivery professionals in Belarus and it expects to continue operating in Belarus. Sales and Marketing The company markets and sells its services through its senior management, sales and business development teams, account managers, and professional staff. The company's client service professionals and account managers, who maintain direct customer relationships, play an integral role in engaging with current customers to identify and pursue potential business opportunities. The company maintains a marketing team, which coordinates corporate-level branding efforts, such as participation in and the hosting of industry conferences and events, as well as sponsorship of programming competitions. The company has been recognized by many top global independent research agencies, such as Forrester and Gartner and by publications such as Newsweek, Forbes and Fortune. The company is 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. Competition The company faces competition from various technology services providers, such as Accenture, Atos, Capgemini, Cognizant Technology Solutions, Deloitte Digital, DXC Technology, Endava, Genpact, GlobalLogic, Globant, Grid Dynamics, HCL Technologies, Infosys, Tata Consultancy Services, and Wipro, among others. Regulations The company is subject to laws and regulations in the United States and other countries in which it operates, including export restrictions, economic sanctions, the Foreign Corrupt Practices Act (FCPA) and similar anti-corruption laws and data privacy regulations. History EPAM Systems, Inc. was founded in 1993. The company was incorporated in the state of Delaware in 2002.
