EPAM Systems: Global IT Services Provider
EPAM Systems, Inc. (EPAM) is a global information technology services provider concentrating on software product development services, software engineering and vertically-oriented custom development solutions. The company has a market capitalization of more $1.5 billion with a net income of $493 million as of October 2013. It also has over 10,000 employees.
The company today has come a long way since it was founded in 1993. It began as global software engineering company with its headquarters in a suburban bedroom in New Jersey, USA and an Offshore Software Development Center in another bedroom across the Atlantic Ocean in Minsk, Belarus. Being a fledgling company its concentration was on serving emerging software companies that could not afford anybody else.
Like other firms starting out it had its share of struggles. Then in 1995-1996 it was able to land its first major client engagements. The US operations of Bally Switzerland, one of the top global fashion and apparel brands selected EPAM to build its Sales Force Automation and Warehouse Management solutions.
The firm was also chosen to assist Colgate-Palmolive Co., a global goods industry leader, to develop Global Sales Force Automation solution and deploy it across dozens of countries around Europe and Latin America.
The years 1997 to 1998 also produced significant developments. Top decision makers at SAP AG, noticed a solution developed by EPAM for Colgate-Palmolive that resulted in a trail engagement developing software for SAP. The engagement was successful and became the start of EPAM engaging in the professional software product development sector. This is also known as the Product Development Outsourcing space. Since then EPAM has been actively involved in hundreds of high end software engineering projects. This has been for both leading global ISVs and also for many emerging technology companies and startups.
EPAM has turned out to be a robust company having gone through the rise and fall of the dot.com bubble and managed to survive even with the loss of its largest client. It adapted to changes and opportunities such as those brought about by the emerging eCommerce space.
The firm today continues to experience impressive growth.