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EPAM Recognized as a Top IT Sourcing Vendor in Europe

Press Release

EPAM Recognized as a Top IT Sourcing Vendor in Europe 

With high customer satisfaction scores and significant leads above competitors and market averages, EPAM has differentiated itself as a top IT service provider in the European IT sourcing market

NEWTOWN, PA, USA, February 05, 2024 -- EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced it has been named a Top IT Sourcing Vendor in Europe, earning recognition for exceptional client satisfaction and strong category performance rankings across multiple evaluation criteria by Whitelane Research, an independent organization focused on IT sourcing research across Europe. This latest recognition reflects EPAM's emergence as a leading strategic IT sourcing partner in Europe, demonstrating superior delivery quality and innovative transformation and building trust and credibility among major European clients.

In Whitelane Research’s 2023 IT Sourcing Study Europe, more than 2000 senior IT decision makers from the top IT spending organizations in Europe evaluated more than 5000 unique IT sourcing relationships based on key performance indicators and by IT domain, delivering one of the most representative reports on the outsourcing market in Europe. Survey respondents evaluated 26 IT service providers across various performance categories, with EPAM achieving exceptional performer satisfaction ratings in the following categories:

  • Account Management Quality: EPAM received an above-average rating of 87%
  • Service Delivery Quality: EPAM received an above-average rating of 86%
  • General Satisfaction: EPAM received an above-average rating of 82%
  • Digital Transformation: EPAM received an above-average rating of 82%
  • Application Services: EPAM received an above-average rating of 82%
  • Transformative Innovation: EPAM received an above-average rating of 79%

“EPAM has delivered an exceptionally strong performance in our 2023 IT Sourcing Study, cementing their status as one of the top IT service providers in Europe, with outstanding levels of customer satisfaction, service quality and account management,” said Alex van den Bergh, Head of Research, Europe at Whitelane Research. “Client feedback underscores EPAM's robust capabilities in leading innovative change through digital transformation technologies and application services. These latest ratings affirm that EPAM consistently surpasses client expectations, maintaining a strong IT sourcing presence across Europe.”

Recognized by Whitelane Research and clients for superior customer satisfaction, EPAM helps customers in Europe and beyond scale and transform across multiple industries through its innovative strategy, integrated advisory, consulting and design capabilities. This new recognition by Whitelane Research underscores EPAM’s ongoing efforts to bring to market the latest digital transformation services, product design, and engineering capabilities to meet the growing technology modernization requirements for European customers while prioritizing client satisfaction and positive experiences.

Recent customer-led recognitions by Whitelane Research have accentuated EPAM’s positive performance as an IT sourcing vendor across various European countries. In September 2022, EPAM gained recognition from Whitelane Research as a top IT sourcing vendor in Switzerland. In March 2023, EPAM was acknowledged by Whitelane Research as a top IT sourcing vendor in the Netherlands. In April 2023, EPAM received similar recognition as a top IT sourcing vendor in the Nordics, and in December 2023, EPAM was named a top IT Sourcing vendor by Whitelane Research in Germany.

To see the full survey results, visit: whitelane.com/europe-2023-2024/

About EPAM Systems

Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its advanced software engineering heritage to become the foremost global digital transformation services provider – leading the industry in digital and physical product development and digital platform engineering services. Through its innovative strategy; integrated advisory, consulting, and design capabilities; and unique 'Engineering DNA,' EPAM's globally deployed hybrid teams help make the future real for clients and communities around the world by powering better enterprise, education and health platforms that connect people, optimize experiences, and improve people's lives. In 2021, EPAM was added to the S&P 500 and included among the list of Forbes Global 2000 companies.

Selected by Newsweek as a 2021, 2022 and 2023 Most Loved Workplace, EPAM's global multidisciplinary teams serve customers in more than 50 countries across six continents. As a recognized leader, EPAM is listed among the top 15 companies in Information Technology Services on the Fortune 1000 and ranked four times as the top IT services company on Fortune's 100 Fastest Growing Companies list. EPAM is also listed among Ad Age's top 25 World's Largest Agency Companies for three consecutive years, and Consulting Magazine named EPAM Continuum a top 20 Fastest Growing Firm.

Learn more at www.epam.com and follow us on Twitter and LinkedIn.

Forward-Looking Statement

This press release includes estimates and statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Our estimates and forward-looking statements are mainly based on our current expectations and estimates of future events and trends, which affect or may affect our business and operations. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. Those future events and trends may relate to, among other things, developments relating to the war in Ukraine and escalation of the war in the surrounding region, political and civil unrest or military action in the geographies where we conduct business and operate, difficult conditions in global capital markets, foreign exchange markets and the broader economy, and the effect that these events may have on our revenues, operations, access to capital, and profitability. Other factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the risk factors discussed in the Company’s most recent Annual Report on Form 10-K and the factors discussed in the Company’s Quarterly Reports on Form 10-Q, particularly under the headings "Management’s Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" and other filings with the Securities and Exchange Commission. Although we believe that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made based on information currently available to us. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

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