Philadelphia is home to many thriving IT companies, ranging from successful local ventures making a name for themselves to well-established international players. Among the most prominent is EPAM Systems, a company renowned for its software development, IT consulting, and engineering services in digital platform creation. Learn more at philadelphia-future.
With a history spanning over 30 years, EPAM boasts a rich portfolio of collaborations across diverse business sectors, including media, finance, commerce, energy, life sciences, healthcare, automotive, other industries, and insurance. Operating globally with 50,000 employees and an extensive network of partners, EPAM has a significant presence worldwide. Let’s delve deeper into this influential company, which also maintains a strong foothold in Philadelphia.
Founding and Early Years
EPAM Systems was founded in 1993, just 60 kilometers from Philadelphia, in Princeton, New Jersey. It was there that Belarusian Arkadiy Dobkin worked, and he invited his colleague Leonid Lozner from Minsk to join him. The company’s name, EPAM, is an acronym for “Effective Programming for America”. Its first offices opened in the U.S. and Belarus, quickly followed by expansion into numerous cities across the U.S. and Europe.
The company hit its first major stride in 1995 when it began developing a sales automation system for Colgate. The following year, the German company SAP AG took notice of the project, signing a contract with EPAM and becoming their first major client. From then on, the company grew steadily, securing new clients in both the U.S. and Europe.
This strategic diversification allowed EPAM to weather financial crises that unfolded in various parts of the world. It proved instrumental in helping the company maintain stability and continue its growth even during challenging times for Europe or the U.S.
Into the New Millennium
EPAM kicked off the new millennium by being included in the S&P 500 and Forbes Global 2000 rankings. It was recognized by Fortune as a top IT services provider. Two years later, Deloitte & Touche honored the company as a fast-growing enterprise.
EPAM concluded its first decade with a portfolio of software products and solutions serving over 200 companies. In 2004, the company’s revenue soared past $30.1 million, marking an incredible 1840.8% growth. Additionally, its employee count doubled, surpassing a thousand.
Moving forward, the company began acquiring other promising ventures to fuel its expansion:
- In 2004, EPAM acquired Fathom Technology, a software development company based in Hungary.
- In 2006, the acquisition of VDI expanded EPAM’s service offerings for CIS countries.
- In 2010, they acquired Instant Information, a leading cloud service provider.
- In 2012, EPAM brought in Canadian consulting firm Thoughtcorp and American digital strategy provider Empathy Lab.
These strategic investments helped EPAM expand its geographical reach, tap into new markets, and broaden its range of services and capabilities. The company became incredibly diversified and virtually limitless in its potential.
In 2012, EPAM made its debut on the New York Stock Exchange. The following year, it launched its Digital Engagement practice to further assist clients.
Continued Growth and Development
As of the 2020s, EPAM Systems boasts over 50,000 employees across 50 countries. The team is constantly growing, with open vacancies and offices in numerous countries and major cities. In Philadelphia, the office is located at 30 S 15th St. Anyone with the necessary skills and expertise is encouraged to submit their resume and explore the opportunity to join this powerful organization.
Throughout its second decade, EPAM Systems acquired many more promising ventures. In 2014, they brought in Netsoft USA, an American healthcare technology consulting firm, and Jointech, a Hong Kong-based technical company.
In 2016, EPAM was recognized by Forbes as one of the top 25 fastest-growing companies. In 2018, it launched InfoNgen 7.0, an intuitive search engine with personalization capabilities. That same year, the company acquired digital and service design projects.
In 2019, EPAM unveiled its own artificial intelligence-powered platform. This project, named TelescopeAI®, is designed for IT operations and human resource management. A new consulting service was also launched. In both 2019 and the following year, EPAM was named a top IT company by Fortune.
Starting with just three employees, EPAM has grown into a formidable force in the IT market. It offers software products across nearly all sectors and consistently meets, and often exceeds, client expectations. Naturally, the founders didn’t overlook Philadelphia. The city has always been, and continues to be, a fertile ground for modern technology development, boasting robust infrastructure, IT universities, colleges, and many eager individuals looking to join the industry. EPAM Systems stands out as a prime opportunity for those seeking to make their mark in this field.