Pegasystems Listed in Leaders Quadrant in 'Magic Quadrant for Pure-Play BPM' Report
CAMBRIDGE, Mass., Jul 13, 2004 — The recently released Gartner, Inc. "Magic Quadrant for Pure-Play BPM" Research Note(a) places Pegasystems (NASDAQ: PEGA) in the upper-right 'Leaders' quadrant among companies that specialize in business process management (BPM) technology, Pegasystems Inc. announced today. The Magic Quadrant report evaluated BPM companies on their vision's completeness and their ability to execute on that vision through product development and services. Companies listed in the Leaders quadrant are performing well today, have a clear view of market direction, and are actively building competencies to sustain their leadership position in the market. The survey considered a wide range of BPM companies, from niche players to diversified multi-national corporations. To be included in the report, companies had to demonstrate:
- A rich human-to-human process flow — work lists and escalation;
- A business-friendly graphical process model;
- Pricing and sales separate from related technologies such as brokers and adapters;
- Good performance when working with other integration technologies — i.e., not focused solely on its own technology;
- A sales force organized to sell directly to business users, rather than just to IT departments;
- Good business activity monitoring for controlled processes;
- Agile supports, including rules, simulation and optimization technologies;
- Active marketing of the product as a standalone offering — that is, pure play.
The report defined completeness of a company's vision by its management's understanding of technical and marketing issues, and its ability to innovate and to grow the business. It defined ability to execute as technical expertise and technology assets and the financial and marketing resources companies commit to product development and support. "Vendors in the Leaders quadrant are most likely to have high revenue in this market, high market share and products that are of interest to a wide audience," the report says. Pegasystems' smart BPM solutions leverage the company's 20 years of expertise with many of the world's largest financial services and healthcare organizations, including eight of the top 15 card issuers, three-quarters of the nation's top 12 banks, such as Bank of America, Citigroup and JPMorgan Chase, and all 12 U.S. Federal Reserve Banks; Aetna; and 20 percent of the nation's Blue Cross Blue Shield licensees. The company provides a comprehensive suite of both horizontal and vertical, industry-specific BPM applications, for full, front-to-back-office integration of critical business processes. "We've worked hard to forge a vision of smart BPM that encompasses all the processes and procedures our customers need to manage across the enterprise, unified by a rules-based architecture that lets customers build for change," said Pegasystems CEO Alan Trefler. "We've turned the vision into reality by using it to shape our product development and partnership strategies so we deliver solutions that are producing value for our customers today. We feel this recognition from Gartner confirms that we have the vision to keep expanding on the technology for our customers, and the practical ability to turn our vision into reality."
The full Magic Quadrant Research Note can be found at: http://mediaproducts.gartner.com/reprints/pegasystems/121570.html
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 July 13, 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. (a)'Magic Quadrant for Pure-Play BPM, 2Q04,' Research Note, J. Sinur, 25 June 2004. The Magic Quadrant is copyrighted June 25, 2004 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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.
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