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EPAM Systems (EPAM) Introduces Retail Media Accelerators
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EPAM Systems (EPAM - Free Report) recently launched its Retail Media Orchestration Toolkit, built in collaboration with Alphabet’s (GOOGL - Free Report) Google Cloud. This toolkit is developed to solve the challenges that retailers face while scaling their business through retail media advertising space.
EPAM’s Toolkit is developed as part of Alphabet’s Google Cloud Industry Value Network (IVN) initiative, which aims to create flexible solutions for retail media. IVN functions in collaboration with integrators, independent software vendors and content partners to build pre-integrated solutions.
The Toolkit unifies features, including multichannel reporting, automated omnichannel measurement for understanding sales impact, advanced audience creation using Google Cloud analytics and insightful analysis of brand and consumer data. These features will enable brands to create effective campaigns and make informed media investment decisions.
Salesforce (CRM - Free Report) and Moloco are among the first to work closely with EPAM to incorporate and utilize the toolkit's features like providing feedback, testing functionalities and exploring use cases together. The use of this toolkit will increase with the influx of more large-scale brands as the retail media will improve by 9.3% from 2022 to 2028, as suggested by the data released by WPP’s GroupM and IPG Mediabrands’ Magna.
EPAM's collaboration with Alphabet to enter into the retail Media advertising space is not its first significant cloud-based partnership. The company has been steadily enhancing its cloud capabilities after collaborating with Amazon’s (AMZN - Free Report) division, Amazon Web Services (“AWS”).
EPAM Systems is an Advanced AWS Consulting Partner and offers various AWS cloud services to tackle common cloud issues. EPAM helps businesses migrate to the cloud, develop cloud-native solutions or manage services and provide other customized AWS cloud solutions.
EPAM is set to benefit significantly from the growth of the cloud computing market. According to a report by MarketsAndMarkets, the cloud computing market is projected to reach $1.24 trillion in 2028 from $626.4 billion in 2023, witnessing a compound annual growth rate of 15.1% during the forecast period.
The company is benefiting from the ongoing digital transformation in businesses and their emphasis on customer engagement and product development. However, the near-term outlook for EPAM appears dim due to a slow demand environment, with organizations becoming more cautious about IT spending amid macroeconomic challenges. The ongoing Russia-Ukraine conflict is expected to persist, causing disruptions to the company's business operations in the near term, as many of its delivery centers are located in Central and Eastern Europe.
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EPAM Systems (EPAM) Introduces Retail Media Accelerators
EPAM Systems (EPAM - Free Report) recently launched its Retail Media Orchestration Toolkit, built in collaboration with Alphabet’s (GOOGL - Free Report) Google Cloud. This toolkit is developed to solve the challenges that retailers face while scaling their business through retail media advertising space.
EPAM’s Toolkit is developed as part of Alphabet’s Google Cloud Industry Value Network (IVN) initiative, which aims to create flexible solutions for retail media. IVN functions in collaboration with integrators, independent software vendors and content partners to build pre-integrated solutions.
The Toolkit unifies features, including multichannel reporting, automated omnichannel measurement for understanding sales impact, advanced audience creation using Google Cloud analytics and insightful analysis of brand and consumer data. These features will enable brands to create effective campaigns and make informed media investment decisions.
Salesforce (CRM - Free Report) and Moloco are among the first to work closely with EPAM to incorporate and utilize the toolkit's features like providing feedback, testing functionalities and exploring use cases together. The use of this toolkit will increase with the influx of more large-scale brands as the retail media will improve by 9.3% from 2022 to 2028, as suggested by the data released by WPP’s GroupM and IPG Mediabrands’ Magna.
EPAM's collaboration with Alphabet to enter into the retail Media advertising space is not its first significant cloud-based partnership. The company has been steadily enhancing its cloud capabilities after collaborating with Amazon’s (AMZN - Free Report) division, Amazon Web Services (“AWS”).
EPAM Systems is an Advanced AWS Consulting Partner and offers various AWS cloud services to tackle common cloud issues. EPAM helps businesses migrate to the cloud, develop cloud-native solutions or manage services and provide other customized AWS cloud solutions.
EPAM is set to benefit significantly from the growth of the cloud computing market. According to a report by MarketsAndMarkets, the cloud computing market is projected to reach $1.24 trillion in 2028 from $626.4 billion in 2023, witnessing a compound annual growth rate of 15.1% during the forecast period.
The company is benefiting from the ongoing digital transformation in businesses and their emphasis on customer engagement and product development. However, the near-term outlook for EPAM appears dim due to a slow demand environment, with organizations becoming more cautious about IT spending amid macroeconomic challenges. The ongoing Russia-Ukraine conflict is expected to persist, causing disruptions to the company's business operations in the near term, as many of its delivery centers are located in Central and Eastern Europe.