The 2020 Fastest Growing Firms: EPAM Systems

Consulting: What were the main factors that contributed to your firm's exceptional growth?

Dobkin: The demand for digital transformation services has grown in the past several years and the clientele EPAM serves are cutting-edge, forward-thinking companies. We continue to invest in the multidisciplinary thinking that is required to tackle complex customer needs and building long-term partnerships to design and engineer the right solution, at scale. We are adaptive: investing in the right technology, providing strategic internal training programs to advance our talent and are flexible in a fast-paced market. This has contributed to our retention of key accounts, including Google, UBS, and Thomas Reuters, all of which have been EPAM clients for over a decade. In order to maintain value for our retained clients we continually expand our offerings for long-standing accounts to serve their changing needs.

Consulting: How is this year shaping up for your firm?

Dobkin: EPAM's YoY 23% industry-leading growth is a strong performance indicator validating our product development services strategy. In 2019, 35 new clients were onboarded into our product management portfolio, contributing to the overall company revenue of $2.29 billion that year. Prior the pandemic in 2020, predictions for EPAM were to exceed 22% revenue growth for the year. The first quarter exceeded expectations bringing in 26% in constant currency growth which made it EPAM's 37th consecutive quarter of 20%+ organic growth. In light of new uncertainty, guidance for the full year has been suspended but for Q2 revenue is predicted to be 8.3% year-over-year growth in the midpoint range. EPAM and EPAM Continuum have maintained a 3-tiered priority system of preparedness to serve our clients now and post-crisis as well as protect the wellbeing of our employees and our financial position.

Consulting: How would you describe your firm's outlook for 2021? Where do you see the most opportunities?

Dobkin: EPAM Continuum has a positive outlook for the year ahead. While challenging, 2020 tested us in ways that has given us confidence in our ability to respond to the needs of 2021. Established within days, our Remote By Design program ensured that we moved 98% of our workforce to a work from home model without interruption to project deliverables and we can do the same for our clients. EPAM will continue to invest in building the capabilities and tools the consulting brand needs to collaborate with a diverse set of clients. Investments take many forms, including opportunistic acquisitions, geographic expansion, internal learning and training opportunities, evolving core methodologies, and the launch of EPAM Anywhere, a new program that provides remote jobs to developers, designers and IT specialists.

Consulting: What would you say are your firm's biggest challenges in 2021?

Dobkin: The upcoming year brings uncertainty for all businesses and the global community at large: industries and customers alike are facing economic upheaval and fast adjustments to unplanned disruptions and transitions. Businesses have new priorities in the digital world and transformational change is not always easy to accept or implement. Clients need trusted partners who can adapt themselves, and help them to adapt at pace with outside influences. EPAM Continuum offerings will continue to evolve as we listen to the needs of our clients and the market. Our consultants will continue to explore new ways of engaging client teams and applying proven methodologies.

Consulting: What does being named a Fastest Growing Firm mean to your firm, employees and clients?

Dobkin: Public recognition for the value we already place in EPAM Continuum would shine a light on the success of our partnership of engineering and consulting together in-house. Being named on this list would reinforce for our employees and clients what they already experience: that integrated consulting and delivery allows us to support our customers in a streamlined journey.