Pegasystems Creates New Strategic Business Groups to Support Customer Needs; Streamlined Business Groups Will Help Provide a Full Circle of Customer Support
CAMBRIDGE, Mass, Jan. 23, 2002 — Pegasystems Inc. (NASDAQ: PEGA) today announced the formation of financial services, healthcare and insurance business groups in support of its commitment to increased customer satisfaction. The business groups will respond to the increased industry demand to have CRM (Customer Relationship Management) solutions tailored to specific industry needs as well as help to provide a platform for external growth. By leveraging existing resources and more than 18 years of experience, Pegasystems will be able to better respond to the changing business needs of its customers and prospects worldwide.
Pegasystems' rules-driven process automation applications are based on a framework of flexible business rules that allow business users to implement strategic and operational directives in response to changing market and business needs. The rules base, coupled with a robust processing engine, automatically drives the fulfillment of customer service requests across a wide range of communication channels. With a history of providing multifaceted CRM solutions, Pegasystems understands the diverse needs and business practices characteristic of different industries and has dedicated itself to providing a full circle of customer support.
In 1983, Pegasystems was a pioneer in rules technology, and over the next 18 years, the company has developed expertise in delivering rules-based exceptions processing solutions to financial services organizations. Pegasystems has a proven record of success in wholesale banking, retail check processing and credit card processing by delivering solutions that help customers. Customers such as Bank of America, N.A., Chase Manhattan Bank, N.A., Citibank, N.A., The Federal Reserve Bank, and Societe Generale S.A. trust Pegasystems for rules-driven process automation solutions for customer service and support.
"We are committed to delivering first class solutions that leverage our customer's existing databases, legacy systems and other investments," said David Wells, vice president, Financial Services, Pegasystems. "As evidenced by our domain expertise and the evolution of products that help meet the needs of financial services organizations, we are dedicated to helping our customers realize the benefits that a rules-driven process automation application has to offer."
As healthcare and insurance organizations begin to recognize the value of automated processes, Pegasystems, with its depth of understanding in these markets, is helping to extend measurable business impact to claims exceptions processing and member services. With Pegasystems, healthcare and insurance organizations can more efficiently coordinate care and integrate administrative operations, while using a rules-driven, multi-channel approach to help manage customer information, help improve efficiencies and help reduce operating costs. Pegasystems' customer list consists of several Blue Cross Blue Shield organizations, including Blue Cross Blue Shield of Massachusetts and Blue Cross Blue Shield of Georgia.
"We are excited by the growing opportunities in the healthcare and insurance market," said Joseph Friscia, executive vice president and general manager of Pegasystems' Applications Business. "We are eager to not only help provide a return on investment for organizations, but also engage them as a partner in helping them drive higher levels of performance in customer service and support.
"This strategic positioning affirms Pegasystems commitment to our customers as well as continued growth. By aligning our expertise and resources, our mission is to provide one team that will support our customers through their entire life cycle as a Pegasystems customer," continued Friscia. "This new infrastructure is focused on customer satisfaction while increasing our existing customer base. We are confident that this business structure will help us in meeting these goals."
"We remain committed to cost-effective operational changes that can help impact the bottom line. The combination of the sales, service and product management capabilities under vertically-organized business groups will help keep us focused and streamlined to deliver the level of service that our customers and prospects demand," said Rick Jones, president and COO, Pegasystems. "This alignment provides a solid platform for us to expand our customer base, drive strategic partnerships and alliances and keep us poised for continued profitability in 2002."
Certain statements contained in this press release may be construed as "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "hope," "anticipate," "plan," and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. The company does not undertake and specifically disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These statements are based on current expectations and assumptions and involve various risks and uncertainties, which could cause the Company's actual results to differ from those expressed in such forward-looking statements. These risks and uncertainties include impact of pending regulatory proceedings, difficulty in predicting the completion of product implementations and consequently the timing of revenue recognition, the inability to attract and retain key employees, reliance on key third-party relationships, management of the Company's growth, and other risks and uncertainties. Further information regarding these and other factors which could cause the Company's actual results to differ materially from any forward-looking statements contained in this press release is contained in the Company's Quarterly Report on Form 10Q for the quarter ended September 30, 2001 on file with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on such forward-looking statements and there are no assurances that the matters contained in such statements will be achieved.
Pegasystems (NASDAQ: PEGA) develops strategic applications for marketing, sales, service, and operations. Pega’s applications streamline critical business operations, connect enterprises to their customers seamlessly in real-time across channels, and adapt to meet rapidly changing requirements. Pega’s Global 3000 customers include many of the world’s most sophisticated and successful enterprises. Pega’s applications, available in the cloud or on-premises, are built on its unified Pega 7 platform, which uses visual tools to easily extend and change applications to meet clients’ strategic business needs. Pega’s clients report that Pega gives them the fastest time to value, extremely rapid deployment, efficient re-use, and global scale. For more information, please visit us at www.pega.com.
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Lisa Pintchman Rogers
VP, Corporate Communications
Director, Corporate Communications
Sr. Manager, Public Relations
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