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EPAM Reveals Best Practices in Creating Strategic Outsourcing Relationships for Digital Product Development

Press Release:

Newtown, PA — August 3, 2011 — EPAM Systems, Inc., a leading software engineering and IT services provider with development centers across Central and Eastern Europe (CEE), announces the release of “Addressing Digital Product Development Risks: Best Practices for Creating Strategic Outsourcing Relationships”, a white paper sponsored by the company. The paper was issued by Gilbane Services, a part of Outsell, Inc., the only research and advisory firm focused exclusively on the publishing and information industries.

The white paper provides insight into the content strategies, practices, and technologies digital product organizations need to remain nimble and competitive, as well as to maximize the monetization of their digital assets and infrastructure. The paper also gives guidance on how to best identify, engage, and work with experienced outsourced service providers as strategic partners who can “extend the executive vision of creating, managing, and delivering market-leading digital products”.

According to Gilbane Services, “Internal optimization of people, processes, and technology is simply not enough for long-term staying power. For many organizations, the digital product transformation means forming partnerships with highly qualified, outsourced service providers who help address the risk of failure due to poor product development”. When looking to engage with a strategic service provider, digital product organizations are advised to check them against a number of criteria, including if they: can demonstrate a clear understanding of the buyer organization’s environment, executive goals, and culture; are capable of supporting a healthy balance between innovation and pragmatism; approach content management as a business practice; can effectively support migration and integration of existing systems and processes, including methods for organizing the knowledge-transfer process, among others.

The Media and Entertainment industry is one of today’s most prolific digital content creators. This dynamic and competitive sector continues to push the limits of digital workflow and delivery – from intuitive consumer systems and multi-channel enablement, to business analysis and dynamic infrastructure solutions. EPAM’s Business Information and Media specialization draws on years of serving some of the media and entertainment industry’s major corporations such as Viacom, Wolters Kluwer, and Newsweek/Daily Beast, as well as enterprise marketing communications clients such as the world-renowned auction house Sotheby’s, and many more.

EPAM has a well-earned reputation for successfully delivering advanced digital solutions to Publishing, TV and Broadcasting, and Advertising organizations. EPAM’s transparent, well-established communication and project execution processes have won them both customer appreciation and industry recognition. In the most recent ranking organized by the International Association of Outsourcing Professionals - “Global Outsourcing 100” - EPAM was named among the Best 10 Leaders by Industry Focus - Entertainment & Media for the third consecutive year.

“2011 is proving to be a pivotal year for Media and Communications industry,” says Alex Lyashok, Vice President of Media & Entertainment at EPAM Systems. “The continued evolution of information dissemination platforms, combined with the unprecedented need to manage customer experiences, creates both opportunities and challenges for organizations worldwide. EPAM’s re-affirmed position as a leader in this space highlights our unwavering commitment to creating new generations of products that serve our clients and their customers.”


About Gilbane Services

Outsell’s Gilbane Services provides analyst and consulting services dedicated to content strategies, practices, and technologies and their application to high-value business solutions. We have delivered quality market education and insight to global enterprises, governments, non-profits, publishers, and information providers since 1987. Outsell’s Gilbane Services is part of Outsell, Inc., the only research and advisory firm focused on the publishing and information industries. Our international team provides independent, fact-based analysis and actionable advice about competitors, markets, operational benchmarks, and best practices, so our clients thrive and grow in today’s fast-changing digital and global environment.

www.gilbane.com


About EPAM Systems


Established in 1993, EPAM Systems, Inc. is a leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe. Headquartered in the United States, EPAM employs over 6,000 professionals and provides services to clients worldwide using a global delivery model through its client facing and delivery operations in North America, UK, Germany, Switzerland, Sweden, Russia, Belarus, Hungary, Ukraine, and Kazakhstan.

EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.

EPAM is recognized among the top companies in IAOP's "The 2011 Global Outsourcing 100", featuring EPAM in a variety of sub-lists, including “Leaders – Technology (Hardware & Software)” and “Leaders – Entertainment & Media”. The company is also ranked among the best global service providers on "The 2011 Global Services 100" by Global Services Magazine and NeoAdvisory, which includes EPAM in the list of the world's "Top Outsourced Product Engineering Vendors" for the 3rd year running.

www.epam.com

For further information, please contact: press@epam.com