No, EPAM is not a product based company. It is primarily an IT based service company dealing in software engineering and digital consultation services among other businesses. EPAM systems develops and designs the digital products of its clients and is not including its own massive consumer software products as traditional companies in this regard. The business specializes in software product development, digital platform engineering, cloud provisioning, and artificial intelligence services.
Here is a quick overview of EPAM Systems
| Details | Info |
| Founded | 1993 |
| Founders | Arkadiy Dobkin and Leo Lozner |
| Headquarters | Newtown, Pennsylvania, U.S. |
| CEO & President | Balazs Fejes (Sep 2025–Present) |
| Industry | Software Engineering and IT Services |
| Listed On | NYSE: EPAM |
| Employees | 62,000+ (2025) |
| Revenue (2024) | US$4.73 Billion |
| Official Website | www.epam.com |
Company History
EPAM Systems was founded in 1993 by Arkadiy Dobkin and Leo Lozner in the USA and Belarus. The company began as a software engineering services company. It centered itself on assisting international firms to create solid digital platforms and software systems.
In 2012, EPAM went public and its shares were listed on the New York Stock Exchange. It has grown over the years to possess a lot of acquisitions in Europe and Latin America among other areas. It also introduced applications such as InfoNgen(r) and TelescopeAI(r), and its business model was service-based.
The S&P 500 Index entered EPAM in 2021, indicating that the company is financially growing and has a high value in the market.
Current Status
EPAM is based in over 55 countries and has a workforce of over 62 000 professionals. The services offered by the company include digital transformation services, cloud migration services, AI solutions services, and enterprise software development services. It collaborates with international customers in such spheres as finance, healthcare, retail, and technology.
Even though EPAM developed a few of its own internal tools and platforms, its primary source of revenue is the provision of engineering and consulting services to customers. This model makes it clear that EPAM belongs to the category of service-based companies.
Future Outlook
EPAM will develop its AI and digital engineering services over the next few years. The firm has been investing in innovation, cloud, and global delivery centers. Epam has a strong leadership and global coverage and seeks to increase its revenues and leading role within the IT services industry.
So, EPAM is a service-oriented model with a product engineering attitude.
