Scouting for Growth Steve Abel: Why is EPAM the best kept secret?
On this episode of the Scouting For Growth podcast, Sabine VdL talks to Steve Abel from EPAM, a dedicated, results-oriented executive with a proven hands-on track record and superior ability to build highly effective teams to deliver success within all levels of an organization. EPAM is one of the best-kept secrets, voted one of the leading and fastest-growing information technology companies in the world. EPAM today leads the charge in the field of global digital and physical transformation and digital platform engineering services. The company has over 61,000 employees across 6 continents and 50 countries. In this episode, Sabine and Steve cover three main topics: Changes in the way innovation is delivered today, repairing broken processes with the right engineering mindset, and the requirements for building the business of tomorrow.
KEY TAKEAWAYS
- The way technology solves problems today is from point solutions to point solutions. This is a flawed way to solve the technology problem and build highly effective business models. Imagine if there were tools that had 95% of what a business needs to operate. You would only buy things that are available as part of the packages. As an insurer, you would be able to gain benefits as you would need fewer specialists to determine whether to buy, build, or partner. Pull widgets that could be your integration engine. Could be cheaper than what is available, and you could rebuild in a bespoke way that is unique.
- I was in a stable job at KPMG. When the pandemic hit, I worked on a project with no real choice but to deliver tech assets quickly. Then I decided to do some investigating and discovered EPAM. They loved my idea and then thought about new technology in new ways to solve the client’s problem with purpose in a different way. EPAM is multi-sectors, and I sit within the insurance business unit.
- How do startups grow? One option is to use cloud-based assets that ease the creation of reusable assets. This is a profound change in how people think about technology and business; cloud-based tooling, data mash-up, etc. We can unlock the power of these tools and bring them together as a unified landscape.
- Insurance carriers are struggling with geospatial data (for instance) because of their legacy systems and the way each carrier goes about integrating data into systems. Each carrier wants to know if they are getting unique information from you, but they don’t need the dashboard or data very often. They want to process an algorithm that gives them an answer.
BEST MOMENTS
‘A lot of commercialized software is not fit for purpose. Still, businesses operate thousands of spreadsheets. This is not right for the employees and gives poor customer service.’
‘I love to wake up and ensure that customers do every day what they do best with others.’
‘If you have not thought on how to do so. Hire an expert to think through the problem in a new way for you. You will get to the optimum outcome faster and likely cheaper too.’
‘Get the right tools and get the approach right. I can ensure you, you will be impressed them.’
ABOUT THE GUEST
Steve Abel is a transformation executive with a dedicated, results-oriented executive, a proven hands-on track record and superior ability to build highly effective teams to deliver success within all levels of an organisation.
Specialties: Program Management, Insurance, Operations, Shared Services, Enabling Technologies (Oracle, SAP, Workday, PeopleSoft, HFM, etc.), Business Process Reengineering, Finance Leading Practices (e.g., Procure to Pay, Record to Report), Insurance products and data, actuarial platforms (AXIS, Prophet, MG-Alfa, PolySystems, etc.), digital enablement, machine learning, artificial intelligence, cloud solutions, business, and technical architecture.
Steve worked with large companies such as Capco, EY and KPMG.
LinkedIn: https://www.linkedin.com/in/stevenabel/
EPAM: 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, optimise 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 and 2022 Most Loved Workplace, EPAM's global multi-disciplinary 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.
Website: https://www.epam.com/
ABOUT THE HOST
Sabine is a corporate strategist turned entrepreneur. She is the CEO and Managing Partner of Alchemy Crew, a venture lab that accelerates the curation, validation, & commercialization of new tech business models. Sabine is renowned within the insurance sector for building some of the most renowned tech startup accelerators around the world working with over 30 corporate insurers & accelerating over 100 startup ventures. Sabine is the co-editor of the bestseller The INSURTECH Book, a top 50 Women in Tech, a FinTech and InsurTech Influencer, an investor & multi-award winner.
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