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Top 10 Leaders, Emerging European Markets — 2008 Winner EPAM

In the News:

Global Services

While the IT-services outsourcing market of Central and Eastern Europe is not more than 1 percent of the nearly $386 billion (est. 2007) global outsourcing market, providers like EPAM are grabbing this opportunity to emerge as global players.

With a high-profile clientele such as Reuters and Oracle, well-entrenched delivery capabilities that spreads from Ukraine to Budapest, the Russian services company makes it to the top of this list thanks to galloping growth coming from the U.S. market. Surprisingly, in 2007 the company was not even among the top five service providers.

EPAM had started off as an application development and maintenance company in the U.S.A. However, it witnessed growth after the rise of the offshore delivery model.

"In 2007, we won over 40 new clients, and thus expanded the company’s total clientele by over 30 percent," says Arkadiy Dobkin, CEO, EPAM. "We launched six new development centers in Russia, Belarus and Ukraine."

While the IT-services outsourcing market of Central and Eastern Europe is not more than 1 percent of the nearly $386 billion (est. 2007) global outsourcing market, providers like EPAM are grabbing this opportunity to emerge as global players.

"EPAM is located in a more favorable time zone — making the communications and distance resource management process sustainable," says Marina Shabin, VP, Applications and Information Strategy, SAP America. "From the stability perspective, we appreciate the fact that employees tend to stay with EPAM for a much longer time than with an average India- or Czech-based companies. This gives us the benefit of continuity and uninterrupted cycle of systems development and deployment."

EPAM delivers software product and application development, maintenance and support services, as well as complex industry solutions employing the best development practices like Agile. CIS countries – EPAM has its major development centers in Russia, Ukraine, and Belarus – leverage the unique opportunities of the CEE region and its advantages in outsourcing.

Stats

CEO: Arkadiy Dobkin

Skill set: Application development & maintenance, engineering, BPO

Verticals: Financial services, hi-tech, travel, hospitality

Customers: BEA, BT, Colgate Palmolive, Reuters, SAP, Samsung

Delivery centers: Hungary, Belarus, Ukraine, Russia

Employees: 3,100

Revenue: $118 million (est. 2007)

Year founded: 1993

Website: www.epam.com