Pegasystems Joins IBM's ISV Advantage Initiative to Help Healthcare Customers
CAMBRIDGE, Mass., March 10, 2004 — Pegasystems Inc. (NASDAQ: PEGA), a leading provider of smart, rules-based business process management (BPM) software, today announced that it has joined IBM's ISV Advantage Initiative, a program designed to provide independent software vendors (ISVs) with technical and marketing support to help meet the specific information technology needs of small and medium businesses (SMB). Customers are seeking solutions that help them better integrate processes and applications internally and externally and that allow them to quickly respond to changing market opportunities on demand.
Pegasystems provides a broad range of rules-based business process management solutions, including both horizontal and industry-specific applications, particularly for the financial services and healthcare markets. Its healthcare applications deliver packaged solutions that help increase productivity and the quality of customer interaction across the enterprise, including member services, provider services, and packaged, best-practice applications to support and optimize claims processing. Pegasystems' software is installed in major healthcare payer organizations covering nearly 35 million individuals, including over one-fifth of the nation's Blue Cross Blue Shield organizations. Pegasystems anticipates that its participation in the ISV Advantage Initiative should help it extend its reach into an even broader customer base, thanks to the initiative's focus on small and medium businesses.
Enabling Pegasystems on IBM WebSphere and DB2 software will help Pegasystems to expand into the SMB market faster and more effectively than is possible with proprietary platforms. Pegasystems will also be working closely with IBM to expand its visibility in target vertical industries through various co-marketing and sales activities.
"We're particularly excited about becoming an ISV Advantage member," said Rob Napolitano, vice president of strategic alliances for Pegasystems. "We believe our technology focus and domain expertise in the healthcare industry, coupled with IBM's market reach and program-support infrastructure, will help us to penetrate the SMB marketplace. We are also capitalizing on our relationship to establish associations with other IBM brands and IBM's financial services industry teams."
"We are pleased that Pegasystems has joined ISV Advantage and is dedicated to IBM as a partner of choice," said Buell Duncan, general manager, ISV & Developer Relations, IBM. "Medium-sized business customers are seeking open solutions tailored to meet their needs in the healthcare industry, and IBM is committed to working with Pegasystems to deliver this."
The IBM WebSphere and DB2 families include products that are designed and priced specifically for small and medium businesses — easy to install and manage, scaleable to grow with a business, rich in functionality, and based on open standards to allow integration with existing software and hardware platforms.
To support its sales and service implementation efforts, Pegasystems has also entered into an agreement with IBM Business Consulting Services (BCS). It will serve as the framework for partnering engagements between Pegasystems and BCS going forward.
ISV Advantage is administered by PartnerWorld for Developers, the developer resource for IBM Business Partners. It is a worldwide program designed to help software developers reach broader markets, lower their costs of doing business, and take their products to market faster. For more information, visit http://www.ibm.com/partnerworld, or call 1-800-426-9990 in North America, 1-770-863-2048 outside North America.
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 including, without limitation, our financial guidance with respect to 2004 revenue, profit before tax, tax rate, earnings per share and cash from operating activities. The words "believe," "expect," "hope," "anticipate," "plan," and similar expressions, among others, 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 volatility of our quarterly operating results, difficulty in predicting the completion of product implementations and consequently the timing of our license revenue recognition, the timing of term software license renewals, customer acceptance of our new PegaRULES Process Commander technology, our ability to develop new products and evolve existing ones, the impact on our business of the ongoing consolidation in the financial services market, historically our core market, our ability to attract and retain key employees, reliance on certain key third-party relationships, 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 most recent report on form 10-K and other recent filings on file with the Securities and Exchange Commission. The forward-looking statements contained in this press release represent the Company's views as of March 10, 2004. 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. Although subsequent events may cause the Company's view to change, the Company does not undertake and specifically disclaims any obligation to publicly update or revise these forward-looking statements whether as the result of new information, future events or otherwise. The statements should therefore not be relied upon as representing the Company's view as of any date subsequent to the date of this release.
NOTE: Pegasystems is a registered trademark of Pegasystems Inc. Other product and company names may be trademarks of their respective owners.
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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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The information contained in this press release is not a commitment, promise, or legal obligation to deliver any material, code or functionality. The development, release and timing of any features or functionality described remains at the sole discretion of Pegasystems, Pegasystems specifically disclaims any liability with respect to this information.
Lisa Pintchman Rogers
VP, Corporate Communications
Director, Corporate Communications
Sr. Manager, Public Relations
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