EPAM's Retail Media Orchestration Toolkit provides a solution
for retailers to scale their retail media business and leverage the
analytical capabilities of Google Cloud
NEWTOWN,
Pa., Jan. 24, 2024 /PRNewswire/ -- Retail
media offers a significant revenue-generating opportunity for
retailers to sell advertising space fueled by customer
transactional data and insights. However, scaling such a business
poses a significant challenge for many. EPAM Systems,
Inc. (NYSE: EPAM), a leading digital
transformation services and product engineering company, today
announced a partnership with Google Cloud, aligned with its
Industry Value Network (IVN) initiative, to develop a composable
suite of retail media accelerators to help retailers
solve efficiency, scalability and functionality
challenges.
EPAM's Retail Media Orchestration Toolkit, developed on and in
collaboration with Google Cloud, is a set of composable cloud
accelerators that allows retailers to work more effectively with
multiple technology vendors via a single, integrated platform while
reducing dependence on third parties and optimizing cost. Retailers
can leverage the scalability and analytical capabilities of native
Google Cloud components, along with a network of retail media
software vendors, eliminating the need to build their own in-house
solution.
With more consumers shopping online than ever before, retail
media is the fastest-growing segment in the advertising
industry, with the potential to generate billions of dollars of
annual revenue. In a currently heavily fragmented space, EPAM's
Retail Media Orchestration Toolkit provides a solution for creating
higher-quality advertising experiences with greater measurement and
targeting capabilities.
The Retail Media Orchestration Toolkit features the
following:
- Multichannel reporting with automated campaign metrics
from multiple platforms into a single dashboard.
- Automated omnichannel measurement to help brands
understand the incremental sales and revenue impact of their retail
media investments across channels and platforms.
- Advanced audience creation using analytical tools within
Google Cloud, enabling brands to create powerful, predictive
audiences across channels and platforms.
- Brand and consumer insights to analyze category share,
consumer profiles, purchase channels and basket composition,
helping brands plan more effective campaigns and increase their
media investments.
"We're pleased to announce this collaboration with Google Cloud
to help retailers of all sizes scale their retail media business
without the need for costly capital investments," said David Billings, VP, Global Head of Media
Practice at EPAM. "Our clients often work with multiple retail
media technology partners and need a comprehensive data and
analytics layer that can seamlessly integrate these partners to
enhance value for advertisers and reduce their operational
burden."
"Retailers are already working with Google Cloud to power their
digital transformations with cloud infrastructure, data and AI,"
said Pallab Deb, Managing Director, Solutions and Industry Value
Networks at Google Cloud. "Our approach to Industry Value Networks
helps these customers more quickly bring together and create value
from multiple partner platforms on Google Cloud, and we're pleased
that EPAM will expand its work with Google Cloud and our ecosystem
of partners to accelerate digital transformation in the retail
industry."
As a market leader in developing composable cloud media and
marketing platforms, EPAM has designed and built custom media
technology platforms for some of the world's largest advertisers
and retailers. Initial integration partners of EPAM's Retail Media
Orchestration Toolkit include Moloco and Salesforce, with first use
cases focusing on multi-channel measurement, brand and consumer
insights generation and high-value audience creation.
"This partnership will enable the world's largest retailers to
build and grow their own retail media technology ecosystem with
Moloco's machine learning powered platform at the center of that
stack," said Nikhil Raj, Vice
President, Retail Media Platform Business at Moloco. "We expect
this partnership will help move the entire industry forward with an
increased focus on transparency, measurement and performance."
For more information about EPAM's Retail Media Orchestration
Toolkit and to request a demo, visit
https://www.epam.com/retail-media-orchestration-toolkit.
Learn more about EPAM's partnership with Google
Cloud: https://www.epam.com/about/who-we-are/partners/google-cloud.
About EPAM Systems
Since 1993, EPAM Systems, Inc.
(NYSE: EPAM) has leveraged its advanced software engineering
heritage to become the foremost global digital transformation
services provider – leading the industry in digital and physical
product development and digital platform engineering services.
Through its innovative strategy; integrated advisory, consulting,
and design capabilities; and unique 'Engineering DNA,' EPAM's
globally deployed hybrid teams help make the future real for
clients and communities around the world by powering better
enterprise, education and health platforms that connect people,
optimize experiences, and improve people's lives. In 2021, EPAM was
added to the S&P 500 and included among the list of Forbes
Global 2000 companies.
Selected by Newsweek as a 2021, 2022 and 2023 Most Loved
Workplace, EPAM's global multidisciplinary teams serve customers in
more than 50 countries across six continents. As a recognized
leader, EPAM is listed among the top 15 companies in Information
Technology Services on the Fortune 1000 and ranked four times as
the top IT services company on Fortune's 100 Fastest Growing
Companies list. EPAM is also listed among Ad Age's top 25 World's
Largest Agency Companies for three consecutive years, and
Consulting Magazine named EPAM Continuum a top 20 Fastest Growing
Firm.
Learn more at www.epam.com and follow EPAM
on Twitter and LinkedIn.
Forward-Looking Statement
This press release includes
estimates and 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.
Our estimates and forward-looking statements are mainly based on
our current expectations and estimates of future events and trends,
which affect or may affect our business and operations. These
statements may include words such as "may," "will," "should,"
"believe," "expect," "anticipate," "intend," "plan," "estimate" or
similar expressions. Those future events and trends may relate to,
among other things, developments relating to the war in
Ukraine and escalation of the war
in the surrounding region, political and civil unrest or military
action in the geographies where we conduct business and operate,
difficult conditions in global capital markets, foreign exchange
markets and the broader economy, and the effect that these events
may have on our revenues, operations, access to capital, and
profitability. Other factors that could cause actual results to
differ materially from those expressed or implied include general
economic conditions, the risk factors discussed in the Company's
most recent Annual Report on Form 10-K and the factors discussed in
the Company's Quarterly Reports on Form 10-Q, particularly under
the headings "Management's Discussion and Analysis of Financial
Condition and Results of Operations" and "Risk Factors" and other
filings with the Securities and Exchange Commission. Although we
believe that these estimates and forward-looking statements are
based upon reasonable assumptions, they are subject to several
risks and uncertainties and are made based on information currently
available to us. 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.
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SOURCE EPAM Systems, Inc.