Pegasystems Positioned in the Leader Quadrant by Top Industry Analyst Firm
CAMBRIDGE, Mass., April 10, 2003 — Pegasystems Inc. (NASDAQ: PEGA), a leading provider of rules-based, smart business process management (BPM) software, today announced that it has been positioned in the Leader Quadrant in Gartner, Inc.'s Business Rule Engine (BRE) 2003 Magic Quadrant for the second year in a row. The recognition further supports Pegasystems' belief that smart and simple-to-use business process management can only be achieved when driven by sophisticated rules engines to manage the practice rules of an organization — i.e., the guidelines or policies that drive the business.
The Business Rule Engine 2003 Gartner Magic Quadrant, released April 7, positions companies based on completeness of vision and ability to execute. The report evaluated BRE companies on their technology foundation, market leadership, consistency of communication, outside investment, products, services, support and management team. According to Gartner, leaders are "performing well today, have a clear vision of market direction and are actively building competencies to sustain their leadership position in the market."
"This is a great honor," said Henry Ancona, Pegasystems' president and COO. "We believe technology providers and buyers turn to the Magic Quadrant reports to get a clear understanding of the competitive landscape. The fact that Pegasystems is positioned in the leader quadrant in two consecutive BRE Magic Quadrant reports is recognition of our two decades of delivering rules-based BPM applications.
"A world-class rules foundation is the core — the DNA — of effective business process management," Ancona continued. "The built-in rules engine delivers both rules-based decisioning and sophisticated, rules-based fulfillment — the intelligent BPM that actually does the work. The power of rules is what makes our BPM solutions 'simply smart.'"
Pegasystems' rules-based BPM software automates both the business decisions and the processes that drive them, automating not only the routing and assigning of work, but also its resolution. Because the applications are written in business rules, as opposed to code, they are inherently easier to use, allowing business users to make changes to business processes with greater agility, helping to improve an organization's productivity and responsiveness.
According to the report, which was authored by Gartner vice president and research area director Jim Sinur, Gartner expects continued growth of the BRE market, driven by average ROI of 10–15%.
The business-rule engine market will continue to grow and mature because business requires the kind of agility that needs BREs, the report goes on to state. "Although more original equipment manufacturer and partnership relationships will emerge, there will be a stand-alone rule market as enterprises become more comfortable with rules, and problem domains become more complex over time," the report said.
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 Annual Report on Form 10K for the quarter ended December 31, 2002 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.
NOTE: Pegasystems is a registered trademark of Pegasystems Inc. Other product and company names may be trademarks of their respective owners.
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.
All trademarks are the property of their respective owners.
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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