EPAM Systems has become larger than some Indian IT companies by doubling its workforce in India, achieving $1.17 billion in revenue for the September quarter. The company overcame challenges posed by the Russia-Ukraine conflict and reported a growth rate of 0.48%. In contrast, Tech Mahindra and LTIMindtree face challenges affecting their growth, despite EPAM’s notable successes.
EPAM Systems, a US-based technology services firm, has outpaced several prominent Indian IT companies like LTIMindtree and Tech Mahindra by strategically increasing its workforce in India. The company reported a revenue of $1.17 billion for the September quarter, with a compounded quarterly growth rate of 0.48% from December 2021 to September 2024. This growth follows challenges faced due to the Russia-Ukraine conflict, prompting EPAM to double its employee strength in India, thereby reinvigorating its operations and securing a steady client base. Despite EPAM’s impressive growth, both Tech Mahindra and LTIMindtree confront their respective hurdles. Tech Mahindra has seen a revenue dip, while LTIMindtree encountered leadership changes and cultural integration issues post-merger. Although EPAM has improved its operating margins, both Indian firms have exhibited slower growth, highlighting their ongoing challenges. EPAM’s strategy of bolstering its Indian workforce resulted in increased revenue and market competitiveness, marking a significant shift in its operational approach amid geopolitical uncertainties.
The topic centers on EPAM Systems, a US tech firm, which has become larger than several Indian IT companies, mainly through strategic growth and workforce expansion in India. The company’s revenue experienced a notable increase, contrasting with the slower growth rates of some of its Indian counterparts, primarily due to internal challenges. EPAM’s focus on enhancing its engineering capabilities and expanding its employee base in India has positioned it favorably in the competitive IT services market. The dynamics surrounding the Russia-Ukraine conflict also played a pivotal role in reshaping workforce distribution and company strategy.
In conclusion, EPAM Systems has successfully navigated significant challenges, including geopolitical conflicts, to emerge as a leader in the technology services sector, surpassing traditional Indian IT firms in size and growth. By focusing on workforce expansion in India and strategic acquisitions, EPAM has solidified its market position, while competitors continue to face their set of difficulties. The contrasting paths of these companies illustrate the impact of strategic human resource management on business resilience and growth in a fluctuating global landscape.
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