EPAM Announces Agreement to Acquire PolSource

Newtown-based EPAM announced today an agreement to acquire Salesforce consultancy Polsource.

Polsource is described by EPAM as a “Salesforce boutique” with over 300 employees (according to LinkedIn) spread out over Poland, the UK and the US.

EPAM’s objective is “to scale EPAM’s growing Salesforce capabilities and expansion into new markets.” 

According to Crunchbase, PolSource had a Series A in 2019 led by Salesforce Ventures.

EPAM Announces Agreement to Acquire PolSource

EPAM logo (PRNewsfoto/EPAM Systems, Inc.)

NEWS PROVIDED BYEPAM Systems, Inc. 

Mar 01, 2021, 10:02 ET


NEWTOWN, Pa., March 1, 2021 /PRNewswire/ — EPAM Systems, Inc. (NYSE: EPAM), a leading global provider of digital platform engineering and development services, today announced its agreement to acquire PolSource—a Salesforce Platinum Partner with more than 350 experienced Salesforce specialists—to scale EPAM’s growing Salesforce capabilities and expansion into new markets. The proposed acquisition is expected to close at the beginning of EPAM’s fiscal second quarter, subject to required regulatory approvals and other customary closing conditions, at which time PolSource’s senior leadership team and hundreds of Salesforce experts will join forces with EPAM Systems. 

PolSource is known as a global boutique Salesforce partner, specializing in consultancy services and delivering powerful digital transformation solutions. As a Salesforce Platinum Partner, PolSource brings a reputation for industry innovation—delivering successful multi-cloud end-to-end solutions across many key industries, including consumer goods, retail, manufacturing, automotive, technology, healthcare, and life sciences. The five-star rated company has more than 1,000 Salesforce certifications (including Salesforce Certified Technical Architects), has earned 14 AppExchange Navigator Specialist & Expert Awards, and is an active member of six Salesforce partner advisory boards.

PolSource’s expertise spans the Salesforce Customer 360 platform (including Sales, Service, Marketing and Commerce), and key Salesforce practices across Heroku, AI, Data & Analytics, Integration (including MuleSoft), Mobile, and CX/UI. With consulting and delivery teams across the Americas and EMEA, PolSource is trusted to design, deploy, and support solutions for many of the world’s global brands.

To learn more about EPAM’s growing Salesforce Practice, click here

About EPAM Systems
Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its software engineering expertise to become a leading global product development, digital platform engineering, and top digital and product design agency. Through its ‘Engineering DNA’ and innovative strategy, consulting, and design capabilities, EPAM works in collaboration with its customers to deliver next-gen solutions that turn complex business challenges into real business outcomes. EPAM’s global teams serve customers in more than 35 countries across North America, Europe, Asia and Australia. As a recognized market leader in multiple categories among top global independent research agencies, EPAM was one of only four technology companies to appear on Forbes 25 Fastest Growing Public Tech Companies list every year of publication since 2013 and ranked as the top IT services company on Fortune’s 100 Fastest-Growing Companies list in 2019 and 2020. Learn more at www.epam.com and follow us on Twitter @EPAMSYSTEMS and LinkedIn.

About PolSource
PolSource is a Salesforce Platinum Partner with hundreds of experienced, certified Salesforce experts. We provide proven results with consulting, delivery, and success teams throughout the Americas & Europe. Our industry-specific accelerators deliver rapid transformation, and measurable outcomes across Retail and Consumer Goods, Manufacturing, Automotive, and Technology companies, to name a few. Learn more at www.polsource.com and follow us on Twitter @polsource and LinkedIn.

Forward-Looking Statements
This press release includes 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. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. 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.

SOURCE EPAM Systems, Inc.

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Comcast & the “U” word; Living by Big Tech’s rules?

Tom Paine

Perhaps the only time you’ve heard the words Comcast and Union together has been in references to Philly’s pro soccer club?

Well, in Massachusetts, seven years after winning an election, Comcast technicians at the Fairhaven, Massachusetts, garage finally have a contract. Electrical Workers (IBEW) Local 2322’s new two-year contract was ratified by 79 percent of the eligible membership on February 3. The Fairhaven techs were the first group of Comcast workers in New England to unionize.

How would you like to live in a town owned by , say, Facebook or Twitter? Nevada’s governor,  Steve Sisolak (D), on Friday unveiled a proposal that would allow technology companies to establish jurisdictions with powers similar to those of county governments within the state.. So if one of these companies banned you, would that mean you are banned entirely from physical existence?

Governor Wolf didn’t need anybody’s approval to sign Boston Consulting Group to a no-bid $11.5 million contract to improve the state’s vaccine distribution logistics.

“The need for this intervention was so urgent,” Acting Secretary of Health Alison Beam said.. “I can’t say enough how urgently we needed resources on board … to put controls in place [and] make improvements on our vaccine allocation strategy.”  

One would think a team from Carnegie-Mellon, which is particularly skillful at operational logistics, or Wharton or Penn SEAS for that matter, could do the job as well at perhaps less than Boston prices.

Former Speaker of the House and VP candidate Paul Ryan, who often struck me as having an accountant-like mindset, has joined up with his old running mate Mitt Romney in a Boston PE firm Romney and one of his sons founded, Solamere Capital. Ryan, not one to miss out on a trend, had raised a $300 million SPAC a few months back. By the way, Ryan disagrees with Romney’s pro-impeachment vote.

Next move for Ryan: Conversion to LDS?

Infosys announces expansion plans in Chester County

Tom Paine

Infosys has committed to hiring “300 more American workers in Pennsylvania in continuation of its overall hiring plan in the U.S”, it announced Thursday.

The company says it “will recruit for a range of opportunities across technology and digital services, client administration, and operations as it expands its new Retirement Services Center of Excellence (the Center)” in Chester County.

The Center was conceived last year following the partnership formed with Pennsylvania-based investment management firm Vanguard.

Its not clear whether these 300 jobs are in addition to those already working on Vanguard’s account for Infosys.

“My administration welcomes Infosys to Pennsylvania, and looks forward to the growth and success of its new Retirement Services Center of Excellence in Chester County,” said Pennsylvania Governor Tom Wolf in a statement.

The Indian outsourcing giant employs nearly 250,000 worldwide.In the US, Infosys announce in September 2020 plans to hire an additional 12,000 American workers, bringing its total hiring commitment in the U.S. to 25,000 workers by 2022

TIE NJ LOOKS AT SELLING TO LARGE COMPANIES, FROM THE BIG COMPANY’S POINT OF VIEW

L-R Anjan Lahiri, Deepak Bharathan and Raman Kapur at the February TieNJ virtual meeting. | Screenshot by Esther Surden

TIE NJ LOOKS AT SELLING TO LARGE COMPANIES, FROM THE BIG COMPANY’S POINT OF VIEW

 February 23, 2021  Esther Surden

At a recent TiE New Jersey meeting, attendees were given a good-humored, but honest look at what it takes for a smaller company to become a vendor for a Fortune 50 company like Comcast (Philadelphia).

The featured speaker was Deepak Bharathan, vice president of strategic finance and procurement at Comcast. Asking questions on behalf of the entrepreneurs in the audience was Anjan Lahiri, who is CEO and managing partner of Navikenz (Cranbury), ex-CEO of Birlasoft (Pune, India) and a former president of IT services at Mindtree (Bangalore, India).

Introducing Bharathan, Lahiri said that all of the 60-plus TiE NJ members on the call were entrepreneurs who actually build stuff. They needed to meet people like Bharathan, who’s the head of purchasing and procurement at a Fortune 500 company, in order to sell those products. And it’s not easy to make those connections or learn how to approach a big company.

Bharathan started by describing the vendor landscape at a company like Comcast, noting that it’s extraordinarily complex by design. The company’s needs are very different from one building to another, and from one location to another, he said. That leads to a phenomenon called “vendor proliferation,” in which you have an ecosystem of thousands of vendors.

Reigning in Vendor Proliferation

Later, in response to a question, he said that companies like his are always trying to reign in vendor proliferation, with varying degrees of success. To some members of the audience, however, a big company’s attempts to consolidate its vendors seemed like an arbitrary assault on businesses like theirs.

In his role, Bharathan said, he must make sure that Comcast is agile enough to compete with Silicon Valley companies. He must also mitigate the risk that comes with engaging with new vendors in the ecosystem. There is the constant push and pull to reduce the number of vendors, but also have ecosystem partners that can push the boundaries. It’s a balancing act, he said.

If a small company is lucky enough to get a contract with a large firm, it’s only as good as its last project, he noted. The company will still have to “pitch up” every day.

Address Pain Points

For a smaller company to have a shot with a big company like Comcast, it must have a specific solution that addresses the big company’s pain points, and that’s much better than the solution already in use. The smaller company’s solution must be ready to go and be able to run without negatively impacting other systems within the big firm. New vendors will be asked to test their wares in the big company’s technology sandbox (a safe, isolated environment), to ensure that any potential flaws or problems in working with already established systems are detected.

“Smaller companies have to realize that they will be held to the same standards as large companies,” Bharathan stated. “For instance, if somebody holds my customer data, it doesn’t matter if it’s a 500,000-person company or a 500-person company, I need to treat them the same way, because the risk of exposure is intense. … If you can’t handle the regulatory paperwork, make sure you pick a niche that doesn’t require you to sign up for that kind of exposure,” he said.

Big companies do want to engage with startups, he added, but on their own terms. At Comcast, the engineering team is always on the lookout for technologies that will “dramatically change the game.” Responding to a question about how much digging a large company will do to find something that is truly remarkable, Bharathan said that that’s another area where the “sandbox” comes into play.

He advised entrepreneurs to make the threshold of engagement really easy for interested large companies. If a large company has to do a lot of things before it can experience the product or service you provide, then there is more paperwork for everyone before the big company can consent to the tryout. “When the product or service speaks for itself, then the follow-up conversation becomes very easy.”

This article first appeared in NJTechWeekly, and is republished here with the permission of Esther Surden, NJTechWeekly founder & publisher.

IBM’s Watson, GE’s Predix; Compare & Contrast

Tom Paine

Yesterday, I read two pieces in the Wall Street Journal: One on the decline of GE under Jeffrey Immelt, and the other on IBM’s less than successful foray into AI for Healthcare, Watson,.under Ginni Rometty.

IBM is reportedly considering seling Watson now. There are also signs that its cutting back on its aggresssive blockchain strategy. The article on GE’s decline discusses its bad bet on Predix, an attempt to develop an IoT-enabled digital operating system for industry.

Both Watson and Predix. were attempts to prop up or rejuvenate the two leading American giants of industry in the 20th century. Both strategies were accompanied by PR campaigns which oversimplified and oversold their capabilities and prospects. Both companies have returned to more realistic strategies under new management: GE under Larry Culp Jr and IBM under Arvind Krishna.

Despite showing future hope of a turnaround under Krishna, IBM’s market value is now barely over $100 billion, compared to Apple’s $2.2 trillion.. Once mighty Big Blue is a minnow compared to Amazon, Google, Apple, and Facebook. Even relative newcomers are passing it by.

Shrunken GE has almost exactly the same market cap now as IBM. It was over $500 billion in the early 2000s.

IBM reinvested substantially in the business (at least according to the numbers) but it didn’t pay off. Shrinking margins reduced the value of some of its businesses, and some R&D efforts produced neat technology, but with little commercial succeess.

GE may have underinvested, and it also badly overpaid for some acquisitions, while its finance business unraveled during the great recession. Its markets were mostly mature. Moving to Boston and hiring a bunch of techies didn’t work. The idea that one operating system could be a universal solutions for its different businesses didn’t pan out. IBM made a similar error with Watson.

goPuff has a new CFO

Tom Paine

Being CFO at a company like goPuff must be challenging and somewhat daunting. Its a rather unique company at this point, so there’s no reliable model to build upon. You must create your own.

Each local supply depot (there are over 200 of them) is a different cost center. Its critical to understand how inventory is turning over. That’s a big difference between goPuff and most of the other delivery concepts, who feed off of other’s inventory.

Add to that the fact that things are moving so quickly that its got to be difficult to keep up with. And handling over $1 billion in a year and a half on top of that. While looking at cross-continent acquisitions.

Now goPuff has a new CFO who came on board in November according to LinkedIn. His name is Josh Burke, who began his management career at PwC, and then had stints at UnderAmour and BackCountry.com, where he was CFO. He received his MBA from the Darden School at the University of Virginia.

The previous CFO, Mark Gaudiosi, is a veteran of the Philly scene dating back to ZainyBrainy. He is still listed as CFO on LinkedIn. I’ve tried to reach goPuff for a comment on the CFO transition and haven’t yet received any response.

One thing Burke seems to lack is any high-level responsibility for an IPO process. Frequently companies headed for an IPO will hire CFOs who’ve already headed up such an effort.

Another interesting tidbit on goPuff’s financial management: Its an Oracle ERP and financials user. That choice may originate at the very top of Oracle’s and (goPuff investor) Softbank’s relationship. There are numerous connections between the two companies and their top leaders, Larry Ellison and Masayosh Son.

goPuff in talks to acquire UK delivery startup Fancy

Tom Paine

Several news outlets are reporting that goPuff may be close to acquiring UK delivery startup Fancy Delivery.

Fancy launched in late 2020 after graduating from Silicon Valley’s Y Combinator and currently operates in 4 cities in the UK. It has a model very similar to goPuff, including having its own local fulfillment centers.

An announcement could come in the next few weeks. The deal would be all in stock, sources tell TechCrunch.

Philly-based goPuff has raised over $1.3 billion in financing, with Softbank being the largest investor.

Despite pandemic, EPAM Systems registers another solid year

Tom Paine

EPAM Systems, based in Newtown, Bucks County, reported its 4th quarter and Full Year 2020 results today. Revenue for 2020 reached $2.66 billion, a 16& gain over 2019. GAAP income from operations was $379.3 million, an increase of $76.5 million, or 25.3%, compared to $302.9 million in 2019. EPAM CEO
Arkadiy Dobkin
, while attributing lower growth than EPAM’s usual 20%+ rate to thee pandemic, went on to say:

“Our strong year-end financial performance is underscored by our diverse set of offerings and was made possible by the thousands of EPAMers who persevered through unprecedented challenges. As 2020 drove significantly higher levels of digital change across the industries and geographies we serve, we helped our clients solve their most complex, and often unexpected, business problems, This year’s results are also a reflection of EPAM’s adaptiveness and the increasing relevance of our constantly expanding capabilities.”

EPAM, which sources most of its work from Eastern Europe and sells mostly to North American and Western European customers, expects revenue growth for 2021 to be at least 23% on a GAAP basis, indicating that its long-term growth trajectory has not slowed much. 

EPAM has a market capitalization of $21.9 billion, a remarkable 8x trailing revenue for an outsourcing developer. Its shares have increased 65% in the past 12 months. Headcount is approaching 40,000.

I like EPAM’s concise investor presentation, which can be viewed here.

Amazon healthcare-related ad for position in King of Prussia suggests new healthcare product

This job posting by Amazon for a business development manager in King of Prussia raised my curiosity. In describing the job, Amazon says:
“We are a passionate team working to build a best-in-class healthcare product designed to make high-quality healthcare easy to access.

I don’t have a trace of what the product might be, but its something to keep an eye on. Most of the articles found related to Amazon and King of Prussia concern talks to convert retail space into fulfillment space for Amazon’s operations.

Business Development Manager

Company NameAmazon Company Location King of Prussia, PA

Posted DatePosted 1 week ago  Number of views534 viewsShareShow more optionsApplySaveSave Business Development Manager at Amazon

See how you compare to 70 applicantsTry Premium Free for 1 Month

Description

We are a passionate team working to build a best-in-class healthcare product designed to make high-quality healthcare easy to access.

Amazon is looking for a Business Development Manager to join an exciting new project team working to build a completely new best-in-class service offering. We are a smart team of doers that work passionately to apply cutting-edge advances in technology and to solve real-world problems that will transform our customers’ experiences in ways we can’t even imagine yet. Our mission is to invent and simplify large-scale solutions and help bring the future to Amazon customers. Our organization rewards curiosity while maintaining the direct-to-market product focus.

The Business Development Manager would be responsible for building and growing relationships. You would work closely with our business development team to deliver for our customers. You should be a self-starter with demonstrated ability to think strategically about business, product, and technical challenges with the ability to build and convey compelling value propositions and work across the organization to build consensus. Above all, you will care deeply about the customer and delight in creating simple and elegant solutions that solve our customers’ biggest challenges.

About Us

Inclusive Team Culture
Here at Amazon, we embrace our differences. We are committed to furthering our culture of inclusion. We have ten employee-led affinity groups, reaching 40,000 employees in over 190 chapters globally. We have innovative benefit offerings, and host annual and ongoing learning experiences, including our Conversations on Race and Ethnicity (CORE) and AmazeCon (gender diversity) conferences. Amazon’s culture of inclusion is reinforced within our 14 Leadership Principles, which remind team members to seek diverse perspectives, learn and be curious, and earn trust.
Work/Life Balance
Our team puts a high value on work-life balance. It isn’t about how many hours you spend at home or at work; it’s about the flow you establish that brings energy to both parts of your life. We believe striking the right balance between your personal and professional life is critical to life-long happiness and fulfillment. We offer flexibility in working hours and encourage you to find your own balance between your work and personal lives.

Mentorship & Career Growth
Our team is dedicated to supporting new members. We have a broad mix of experience levels and tenures, and we’re building an environment that celebrates knowledge sharing and mentorship. We care about your career growth and strive to assign opportunities based on what will help each team member develop into a better-rounded contributor.

Responsibilities include

  • Develop and manage relationships by engaging with partners and key customers
  • Accelerate customer adoption and customer satisfaction
  • Develop and execute against a set of goals.
  • Provide feedback from key stakeholders about customer needs
  • Collaborate with leadership to develop strategic plans to maximize partnership opportunities

We’re looking for an eager Business Development Manager who is a passionate learner and has built relationships with enterprise customers and channel partners.

Basic Qualifications

  • 7+ years of professional experience in either account management, business development, health plans, strategic partnerships or similar roles
  • BA/BS in business, marketing or a related field

Preferred Qualifications

MBA a plus

  • Deep experience working in healthcare
  • Demonstrated success in building strong relationships using a consultative, solutions-focused approach
  • Extensive experience in prospecting and qualifying companies
  • Strong problem-solving skills including Microsoft Excel
  • Strong experience using Salesforce
  • Professional traits that are not unique to this position, but necessary for Amazon leaders:
  • Exhibits excellent business judgment
  • Has relentless high standards
  • Thinks strategically, but stays on top of execution
  • Expects and requires innovation of their team
  • Thinks big and has convictions
  • Is action and results-oriented
  • Is highly analytical and structured
  • Has the innate ability to inspire passion in others.

Amazon is committed to a diverse and inclusive workplace. Amazon is an equal opportunity employer and does not discriminate on the basis of race, national origin, gender, gender identity, sexual orientation, protected veteran status, disability, age, or other legally protected status. For individuals with disabilities who would like to request an accommodation, visit US Disability Accommodations.

Company – Amazon.com Services LLC
Job ID: A1418641

Seniority Level

Mid-Senior level

Industry

  • Computer Software 
  • Information Technology & Services 
  • Internet

Employment Type

Full-time

Job Functions

  • Business Development 
  • Information Technology

Estimated pay range

This range is estimated for Business Development Manager jobs in Greater Philadelphia at similar companies. Actual pay may be different. Provide feedback

Base pay range

$62,000/yr – $128,000/yrClick here to unlock more salary insightsUnlock more sala