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2023-05-17 | NYSE:EPAM | Push Launch

79% of Leaders Surveyed Concur that the Small business does not talk Know-how

and Technological know-how does not speak Organization

NEWTOWN, Pa., May possibly 17, 2023 /PRNewswire/ — Digital transformation carries on to effect all facets of company, but acquiring true transformation is a challenge for many, as it necessitates a lot more than adopting modern technologies. EPAM Continuum, the built-in technique, know-how and expertise consulting apply of EPAM Programs, Inc. (NYSE: EPAM), now unveiled a new report titled A few Methods Leaders Impede Their Company’s Electronic Transformation that identifies a breakdown concerning company and technological know-how in some companies though detailing critical methods for successful digital transformation.

Research results from EPAM Continuum's survey of leaders in IT & people departments

Access the Complete Report Below

“In get to effectively execute electronic transformation, small business leaders and IT need to be aligned nevertheless, our research reveals that, for lots of, this is just not the circumstance,” said Sandra Loughlin, Ph.D., Main Studying Scientist and Head of Shopper Learning and Expertise Enablement at EPAM. “Correct transformation starts off at the best with executives and senior leaders committing wholeheartedly to investing in new abilities, aligning assets and doing the job with each other in new ways to accomplish shared objectives and foster a culture of unity.”

To understand where business enterprise leaders stand with digital transformation across industries around the world, the analyze surveyed extra than 900 senior executives from technologies, electronic, data, products, human means, talent attraction and finding out and growth roles.

Important results involve:

  • Thirty-seven p.c technology executives and 10% of small business executives are educated on essential digital transformation matters, like AI, machine finding out and cloud migration. To drive successful electronic transformation, senior leaders will have to understand the totality of the small business, inclusive of know-how, and build specialized and specialist abilities to direct their corporations ahead.
  • Seventy-nine per cent of leaders surveyed agreed that the organization does not discuss know-how and technology does not communicate organization. The study uncovered only four in 10 corporations experienced required education on essential topics underlying digital transformation and enterprise accomplishment.
  • More than 50 percent of company homeowners and C-suite executives understand IT as just a normal guidance function and not a business driver. The disconnect concerning technological innovation and business objectives can outcome in missed chances for innovation and growth and wasted assets, as perfectly as problems in retaining expert talent.

To enable companies bridge the gap among engineering and company, EPAM Continuum’s report delivers comprehensive suggestions and resources for strengthening ongoing electronic transformation, which include:

  • Clarifying the role of engineering in the company. This involves building a shared eyesight and strategic strategy to define how engineering is powering business enterprise system.
  • Producing necessary electronic and small business literacy courses. For senior leaders, courses should really be distinct to their requires and explore how to enable staff members create new mindsets, behaviors and ways of functioning.
  • Connecting learning to implementation. Create typical goals and shared accountability for digital transformation by preparing for every spot of the business and aligning functions.

“There is not a a single-measurement-fits-all option for thriving electronic transformation given that each and every organization has its personal distinctive lifestyle and objectives,” Loughlin reported. “Leaders must be very well geared up to navigate digital transformation complexities by obtaining important competencies, being informed about marketplace traits and discovering from profitable companies.”

To read through the complete report, take a look at: https://www.epam.com/management-report.

To understand how EPAM’s expertise enablement and transformation providers can assist organizations digitally remodel and support employee learning and advancement, stop by www.epam.com/solutions/method/expertise-enablement.

ABOUT EPAM CONTINUUM

EPAM Continuum is the built-in technique, practical experience and technological innovation consulting network in just EPAM, and the primary support brand under which all EPAM consulting and inventive solutions go to industry. We fuse integrated consulting with EPAM’s engineering experience to accelerate the tempo at which our consumers derive sector reward from new innovations and digital transformation investments.

We’re a globally integrated hybrid staff of strategists, advisors, designers, technologists, knowledge scientists and creatives. Utilizing used units considering, we determine how to produce price inside our clients’ significantly intricate enterprise issues. We believe the appropriate options are the kinds that boost people’s lives and fuel competitive edge. We you should not just build blueprints, functioning types and organization ideas our considering comes to existence in code and products – and in market place. Study far more at www.epam.com/epam-continuum and adhere to us on LinkedIn.

ABOUT EPAM Devices

Given that 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its sophisticated software package engineering heritage to develop into the foremost global digital transformation products and services company – leading the industry in digital and physical products progress and electronic system engineering services. Through its ground breaking strategy built-in advisory, consulting, and design and style abilities and one of a kind ‘Engineering DNA,’ EPAM’s globally deployed hybrid teams enable make the long run genuine for purchasers and communities all-around the planet by powering better company, training and overall health platforms that connect people today, enhance activities, and improve people’s life. In 2021, EPAM was included to the S&P 500 and involved among the the listing of Forbes Global 2000 companies.

Picked by Newsweek as a 2021 and 2022 Most Liked Place of work, EPAM’s world multi-disciplinary teams serve buyers in extra than 50 nations throughout six continents. As a identified chief, EPAM is listed among the the leading 15 providers in Data Know-how Products and services on the Fortune 1000 and ranked 4 instances as the top rated IT providers firm on Fortune’s 100 Fastest Expanding Companies record. EPAM is also shown among the Ad Age’s prime 25 World’s Major Agency Organizations for three consecutive several years, and Consulting Journal named EPAM Continuum a best 20 Speediest Rising Firm.

Discover much more at www.epam.com and stick to EPAM on Twitter and LinkedIn.

Ahead-Hunting Statements

This push release includes estimates and statements which could represent forward-looking statements produced pursuant to the safe harbor provisions of the Personal Securities Litigation Reform Act of 1995, the precision of which are essentially subject to hazards, uncertainties, and assumptions as to potential activities that might not demonstrate to be exact. Our estimates and forward-seeking statements are largely based on our current expectations and estimates of potential functions and traits, which have an impact on or may well influence our company and functions. These statements may perhaps include words these kinds of as “may well,” “will,” “need to,” “imagine,” “hope,” “anticipate,” “intend,” “strategy,” “estimate” or comparable expressions. Those future functions and tendencies might relate to, amid other matters, developments relating to the war in Ukraine and escalation of the war in the encompassing location, political and civil unrest or armed forces motion in the geographies exactly where we carry out enterprise and work, hard disorders in worldwide cash marketplaces, international trade markets and the broader financial state, and the result that these functions might have on our revenues, operations, access to funds, and profitability. Other components that could result in precise success to differ materially from all those expressed or implied contain general economic ailments, the threat factors talked about in the Firm’s most the latest Annual Report on Form 10-K and the factors mentioned in the Firm’s Quarterly Reports on Sort 10-Q, especially underneath the headings “Management’s Dialogue and Assessment of Financial Condition and Final results of Functions” and “Hazard Elements” and other filings with the Securities and Trade Fee. Even though we imagine that these estimates and ahead-looking statements are dependent on realistic assumptions, they are subject matter to various dangers and uncertainties and are made centered on information at this time out there to us. EPAM undertakes no obligation to update or revise any forward-looking statements, irrespective of whether as a consequence of new info, foreseeable future occasions, or if not, besides as might be expected less than relevant securities legislation.

EPAM Systems (PRNewsfoto/EPAM Systems, Inc.)

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Source EPAM Systems, Inc.