Pegasystems Inc. is an American

software Software is a set of computer programs and associated documentation and data. This is in contrast to hardware, from which the system is built and which actually performs the work. At the lowest programming level, executable code consists ...

company based in

Cambridge, Massachusetts Cambridge ( ) is a city in Middlesex County, Massachusetts, United States. As part of the Boston metropolitan area, the cities population of the 2020 U.S. census was 118,403, making it the fourth most populous city in the state, behind Boston, ...

. Founded in 1983, Pegasystems develops

for

customer relationship management Customer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information. CRM systems compile data from a ra ...

(CRM) and

business process management Business process management (BPM) is the discipline in which people use various methods to discover, model, analyze, measure, improve, optimize, and automate business processes. Any combination of methods used to manage a company's business pro ...

(BPM). The company has been publicly traded since 1996 as PEGA (

NASDAQ The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

). Pega is a low-code platform for workflow automation and AI-powered decisioning.

History

1983–2002

Alan Trefler Alan N. Trefler (born March 10, 1956) is an American billionaire businessman and chess master best known as the chief executive officer (CEO) of Pegasystems, a multinational software company he founded in 1983. Prior to Pegasystems, in 1975 Tref ...

founded Pegasystems in 1983 at the age of 27, in

. Prior to founding the company, in the early 1980s Trefler had developed

computer A computer is a machine that can be programmed to Execution (computing), carry out sequences of arithmetic or logical operations (computation) automatically. Modern digital electronic computers can perform generic sets of operations known as C ...

systems that could play

chess Chess is a board game for two players, called White and Black, each controlling an army of chess pieces in their color, with the objective to checkmate the opponent's king. It is sometimes called international chess or Western chess to disti ...

. During the company's early years it focused on providing case management, namely for companies such as

American Express American Express Company (Amex) is an American multinational corporation specialized in payment card services headquartered at 200 Vesey Street in the Battery Park City neighborhood of Lower Manhattan in New York City. The company was found ...

. Trefler recollects that when he started Pegasystems, he wanted to create software for business people, how business-people wanted things to work. An article in ''

Computerworld ''Computerworld'' (abbreviated as CW) is an ongoing decades old professional publication which in 2014 "went digital." Its audience is information technology (IT) and business technology professionals, and is available via a publication website ...

'' traces

business rules engine A business rules engine is a software system that executes one or more business rules in a runtime production environment. The rules might come from legal regulation ("An employee can be fired for any reason or no reason but not for an illegal rea ...

to the early 1990s and to products from Pegasystems,

Fair Isaac FICO (legal name: Fair Isaac Corporation), originally Fair, Isaac and Company, is a data analytics company based in Bozeman, Montana, focused on credit scoring services. It was founded by Bill Fair and Earl Isaac in 1956. Its FICO score, a me ...

Corp and

ILOG ILOG S.A. was an international software company purchased and incorporated into IBM announced in January, 2009. It created enterprise software products for supply chain, business rule management, visualization and optimization. The main product ...

. As a private company, Pegasystems was "bootstrapped" initially, but did not take on outside investors. The company went public in 1996 with initial and secondary public offerings, and began trading on

under the symbol PEGA. Raising several millions in funding in the process, going public freed the company from needing to pursue

venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which ha ...

investments. Pegasystems entered a period of financial trouble in the late 1990s, following a dispute with its accountants,

Ernst & Young Ernst & Young Global Limited, trade name EY, is a multinational professional services partnership headquartered in London, England. EY is one of the largest professional services networks in the world. Along with Deloitte, KPMG and Pricewaterh ...

. After restating their earnings, Pegasystems faced an investigation by the SEC, which was dropped in 2002.

2010–present

In March 2010, Pegasystems acquired the

enterprise software Enterprise software, also known as enterprise application software (EAS), is computer software used to satisfy the needs of an organization rather than individual users. Such organizations include businesses, schools, interest-based user groups, ...

company

Chordiant Chordiant, formerly known as Chordiant Software and J. Frank Consulting, was an American software company which offered enterprise software to help other companies improve customer experience. Now owned by Pegasystems, they were headquartered in ...

for around $161.5 million. The acquisition gave Pegasystems access to new markets such as online training,

telecommunications Telecommunication is the transmission of information by various types of technologies over wire, radio, optical, or other electromagnetic systems. It has its origin in the desire of humans for communication over a distance greater than that fe ...

and healthcare, with Pegasystems integrating Chordiant and its

(CRM) technology into its existing operations. Pega Cloud was introduced using

Amazon Web Services Amazon Web Services, Inc. (AWS) is a subsidiary of Amazon.com, Amazon that provides Software as a service, on-demand cloud computing computing platform, platforms and Application programming interface, APIs to individuals, companies, and gover ...

in 2012, and in October 2013, Pegasystems acquired the mobile application developer

Antenna Software Pegasystems Inc. is an American software company based in Cambridge, Massachusetts. Founded in 1983, Pegasystems develops software for customer relationship management (CRM) and business process management (BPM). The company has been publicly tr ...

for $27.7 million. Located in

New Jersey New Jersey is a state in the Mid-Atlantic and Northeastern regions of the United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delaware ...

, Antenna also had bases in

Kraków Kraków (), or Cracow, is the second-largest and one of the oldest cities in Poland. Situated on the Vistula River in Lesser Poland Voivodeship, the city dates back to the seventh century. Kraków was the official capital of Poland until 1596 ...

and

Bangalore Bangalore (), officially Bengaluru (), is the capital and largest city of the Indian state of Karnataka. It has a population of more than and a metropolitan population of around , making it the third most populous city and fifth most ...

. In 2014, Pegasystems hired a cloud technology proponent to develop its

cloud technology Cloud computing is the on-demand availability of computer system resources, especially data storage ( cloud storage) and computing power, without direct active management by the user. Large clouds often have functions distributed over mul ...

strategy. Over the following year, Pegasystems invested in network operations in

North America North America is a continent in the Northern Hemisphere and almost entirely within the Western Hemisphere. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and the Car ...

and

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

to support its cloud services. In May 2014, Pegasystems acquired the

-based MeshLabs, a

text mining Text mining, also referred to as ''text data mining'', similar to text analytics, is the process of deriving high-quality information from text. It involves "the discovery by computer of new, previously unknown information, by automatically extract ...

and analytics software startup. The ''

Times of India ''The Times of India'', also known by its abbreviation ''TOI'', is an Indian English language, English-language daily newspaper and digital news media owned and managed by The Times Group. It is the List of newspapers in India by circulation, t ...

'' reported that Pegasystems would integrate MeshLabs's text analytics software to "gather unstructured social media data and decode it into actionable business insights for its clients." The financial details of the transaction were not disclosed. Pegasystems acquired Firefly in June 2014, a co-browsing tool funded by

First Round Capital First Round is a venture capital firm that specializes in providing seed-stage funding to technology companies. Founded by Josh Kopelman Joshua Kopelman is an American entrepreneur, venture capitalist, and philanthropist. Kopelman is best k ...

. The startup from

Philadelphia, Pennsylvania Philadelphia, often called Philly, is the largest city in the Commonwealth of Pennsylvania, the sixth-largest city in the U.S., the second-largest city in both the Northeast megalopolis and Mid-Atlantic regions after New York City. Sinc ...

was the company's first move into the

cobrowsing Cobrowsing (short for collaborative browsing), in the context of web browsing, is the joint navigation through the World Wide Web by two or more people accessing the same web page at the same time. History of cobrowsing software Early cobrowsing w ...

market. By the summer of 2014, Pegasystems remained headquartered in

with 2,700 employees. By July 2014 the company was worth around US$1 billion. By early 2015, Pegasystems remained a publicly traded company on the

Nasdaq The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

, with 3,000 employees, 30 offices, and "more than half a billion dollars in revenue." As of February 2015, the company had active partnerships with IT outsourcing companies such as Hexaware, NIIT Incessant Technologies,

Tata Consultancy Services Tata Consultancy Services (TCS) is an Indian multinational information technology (IT) services and consulting company with its headquarters in Mumbai. It is a part of the Tata Group and operates in 150 locations across 46 countries. In July ...

Infosys Infosys Limited is an Indian Multinational corporation, multinational information technology company that provides business consulting, information technology and outsourcing services. The company was founded in Pune and is headquartered in Ba ...

Wipro Wipro Limited (formerly, Western India Palm Refined Oils Limited) is an Indian multinational corporation that provides information technology, consulting and business process services. Thierry Delaporte is serving as CEO and managing director ...

HCL Technologies HCLTech (formerly Hindustan Computers Limited or HCL Technologies) is an Indian multinational information technology (IT) services and consulting company headquartered in Noida.It emerged as an independent company in 1991 when HCL entered into ...

Accenture Accenture plc is an Irish-American professional services company based in Dublin, specializing in information technology (IT) services and consulting. A ''Fortune'' Global 500 company, it reported revenues of $61.6 billion in 2022. Accentur ...

and

Cognizant Cognizant is an American multinational information technology services and consulting company. It is headquartered in Teaneck, New Jersey, United States. Cognizant is part of the NASDAQ-100 and trades under CTSH. It was founded as an in-hous ...

. By September of that year, companies who had built teams of Pegasystems specialists included Virtusa (engineering and solution delivery partner since 2001), Accenture,

and Cognizant. Between 2005 and 2015, Pegasystems had average sales growth of 21% per year. There was a steady rise in the company's

share price A share price is the price of a single share of a number of saleable equity shares of a company. In layman's terms, the stock price is the highest amount someone is willing to pay for the stock, or the lowest amount that it can be bought for. B ...

in 2015, with higher than expected revenues from the year prior. In January 2016, it was reported that Pegasystems planned on raising its number of employees significantly, and the company announced the acquisition of OpenSpan Inc. in April 2016. Based in

Atlanta, Georgia Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 ...

, OpenSpan specialized in

robotic process automation Robotic process automation (RPA) is a form of business process automation technology based on metaphorical software robots (bots) or on artificial intelligence (AI)/digital workers. It is sometimes referred to as ''software robotics'' (not to be ...

and workforce analytics software. In 2016, Pegasystems announced training and certification on the Pega 7 platform for educators and students. Clients

Google Google LLC () is an American multinational technology company focusing on search engine technology, online advertising, cloud computing, computer software, quantum computing, e-commerce, artificial intelligence, and consumer electronics. ...

Aflac Aflac Inc. (American Family Life Assurance Company) is an American insurance company and is the largest provider of supplemental insurance in the United States. The company was founded in 1955 and is based in Columbus, Georgia. In the U.S., A ...

, and

Anthem An anthem is a musical composition of celebration, usually used as a symbol for a distinct group, particularly the national anthems of countries. Originally, and in music theory and religious contexts, it also refers more particularly to short ...

promoted Pega software at the 2018 PegaWorld conference, an annual conference held since 2006. In February 2019, Pegasystems purchased Infruid Labs, a business analytics and data visualization software company. In May 2019, the company bought In The Chat, a digital messaging platform. Since March 2020, Pegasystems has sponsored the Boston punk band

Dropkick Murphys Dropkick Murphys are an American Celtic punk band formed in Quincy, Massachusetts in 1996. Singer and bassist Ken Casey has been the band's only constant member. Other current members include drummer Matt Kelly (1997– ), singer Al Barr (199 ...

. In January 2021, the company announced it had acquired Qurious.io, which provides a cloud service that analyzes voice calls in real time to support customer service representatives. In June 2021, Pegasystems became the official supplier of the

Ryder Cup The Ryder Cup is a biennial men's golf competition between teams from Europe and the United States. The competition is contested every two years with the venue alternating between courses in the United States and Europe. The Ryder Cup is named af ...

. The company also sponsors pro golfers

Marc Leishman Marc Leishman (born 24 October 1983) is an Australian professional golfer. He has won six times on the PGA Tour. In 2009 he won the Rookie of the Year award on the PGA Tour, the first Australian to win the award. Career Leishman was born in W ...

and

Mel Reid Melissa Rose Reid (born 19 September 1987) is an English professional golfer who plays on the Ladies European Tour and the LPGA Tour. In June 2021, Reid wore Pegasystems' Pride logo, one of the first times the logo has been worn in professional golf. In May 2022, a jury verdict awarded

Appian Corporation Appian Corporation is a cloud computing and enterprise software company headquartered in McLean, Virginia, part of the Dulles Technology Corridor. The company sells a platform as a service (PaaS) for building enterprise software applications. It ...

$2.036 billion in damages for trade secret misappropriation and a damages award of $1 for a violation of the Virginia Computer Crimes Act, which Pega plans to appeal. The company will not be required to begin paying the judgement until all avenues of appeal have been exhausted. In 2022, Pegasystems acquired Everflow, a Brazilian process mining company to support their process mining and hyper automation goals. The company also entered into a partnership with Celebrus, a CDP Vendor. The partnership resulted in the release of Always-On Insights which allows customer data and advertising data to drive automated marketing campaigns.

Products and services

Pegasystems develops and supports software for

customer engagement Customer engagement is an interaction between an external consumer/customer (either B2C or B2B) and an organization (company or brand) through various online or offline channels. According to Hollebeek, Srivastava and Chen's (2019, p. 166) S-D lo ...

and operations. In particular, Pegasystems specializes in software for

(BPM) and

(CRM), and is seen as offering more bespoke technology than competitors such as

Oracle Corporation Oracle Corporation is an American multinational computer technology corporation headquartered in Austin, Texas. In 2020, Oracle was the third-largest software company in the world by revenue and market capitalization. The company sells da ...

SAP ERP SAP ERP is an enterprise resource planning software developed by the German company SAP SE. SAP ERP incorporates the key business functions of an organization. The latest version of SAP ERP (V.6.0) was made available in 2006. The most recent SA ...

. The company's core software product is the Pega Platform, part of its Pega Infinity suite of applications for customer engagement and digital process automation, which are designed to connect customer interfaces with back-end process automation. Pegasystems states its applications are certified to work on

Google Cloud Google Cloud Platform offers numerous integrated cloud-computing services, including compute, network, and storage. Products Past and present products under the Google Cloud platform include: Current * Google Cloud Datastore, a NoSQL databa ...

and other public cloud platforms, including

Microsoft Azure Microsoft Azure, often referred to as Azure ( , ), is a cloud computing platform operated by Microsoft for application management via around the world-distributed data centers. Microsoft Azure has multiple capabilities such as software as a ...

, and Pivotal’s

Cloud Foundry Cloud Foundry is an open source, multi-cloud application platform as a service (PaaS) governed by the Cloud Foundry Foundation, a 501(c)(6) organization. The software was originally developed by VMware, transferred to Pivotal Software (a joint ...

. Various

Kubernetes Kubernetes (, commonly stylized as K8s) is an open-source container orchestration system for automating software deployment, scaling, and management. Google originally designed Kubernetes, but the Cloud Native Computing Foundation now maintains ...

environments are supported. In 2018 Pega announced platform additions that used

artificial intelligence Artificial intelligence (AI) is intelligence—perceiving, synthesizing, and inferring information—demonstrated by machines, as opposed to intelligence displayed by animals and humans. Example tasks in which this is done include speech re ...

for marketing campaigns, customer interfaces, and robotic automation, as well as a

Blockchain A blockchain is a type of distributed ledger technology (DLT) that consists of growing lists of records, called ''blocks'', that are securely linked together using cryptography. Each block contains a cryptographic hash of the previous block, a ...

kit for

Ethereum Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether (Abbreviation: ETH; sign: Ξ) is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capita ...

. As of late 2013, Pegasystem’s core software, PegaRULES Process Commander (PRPC), was related to BPM. Pegasystems Inc. in March 2016 announced the Pega Client Lifecycle Management (CLM) application. The company added artificial intelligence into its customer service software to allow interactions to occur on multiple communication channels at once. The company’s

low-code development platform A low-code development platform (LCDP) provides a development environment used to create application software through a graphical user interface. A low-coded platform may produce entirely operational applications, or require additional coding for s ...

was highlighted in a 2018 ''

Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...

'' article, with Pegasystems’ chief technology officer explaining that the software allowed developers to "drag and drop eady-made software componentsto configure applications,” minimizing development time. The company's core product is the Pega Platform, which is part of its Pega Infinity suite of applications for customer engagement and robotic process automation. In April 2020, during the COVID-19 pandemic, Pegasystems announced an application for financial institutions to manage emergency loan applications from small businesses seeking COVID-19 financial relief. Throughout 2020, Pegasystems helped several of its clients, including the Bavarian government and the Commonwealth Bank of Australia, develop apps to manage issues that arose because of COVID-19. Pega’s Voice AI and Messaging AI analyze live customer service conversations in real time to help service agents resolve service requests with reduced manual effort.

Clients and projects

Pegasystems specializes in the following industries:

financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

life sciences This list of life sciences comprises the branches of science that involve the scientific study of life – such as microorganisms, plants, and animals including human beings. This science is one of the two major branches of natural science, the ...

healthcare Health care or healthcare is the improvement of health via the prevention, diagnosis, treatment, amelioration or cure of disease, illness, injury, and other physical and mental impairments in people. Health care is delivered by health profe ...

, government, manufacturing,

high tech High technology (high tech), also known as advanced technology (advanced tech) or exotechnology, is technology that is at the cutting edge: the highest form of technology available. It can be defined as either the most complex or the newest te ...

, communications and media,

energy In physics, energy (from Ancient Greek: ἐνέργεια, ''enérgeia'', “activity”) is the quantitative property that is transferred to a body or to a physical system, recognizable in the performance of work and in the form of heat a ...

, and

utilities A public utility company (usually just utility) is an organization that maintains the infrastructure for a public service (often also providing a service using that infrastructure). Public utilities are subject to forms of public control and r ...

. While core areas have traditionally included banking and financial sectors, more recent areas include manufacturing, life sciences and healthcare. As of 2013, other clients included "largely Fortune 500 companies" such as

ING Ing, ING or ing may refer to: Art and media * '' ...ing'', a 2003 Korean film * i.n.g, a Taiwanese girl group * The Ing, a race of dark creatures in the 2004 video game '' Metroid Prime 2: Echoes'' * "Ing", the first song on The Roches' 1992 ...

Lloyds Banking Group Lloyds Banking Group is a British financial institution formed through the acquisition of HBOS by Lloyds TSB in 2009. It is one of the UK's largest financial services organisations, with 30 million customers and 65,000 employees. Lloyds Bank w ...

, BAA, and the state of

Maine Maine () is a state in the New England and Northeastern regions of the United States. It borders New Hampshire to the west, the Gulf of Maine to the southeast, and the Canadian provinces of New Brunswick and Quebec to the northeast and north ...

, which commissioned Pegasystems to create a BPM system to cut administrative costs. By July 2014,

PayPal PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers, and serves as an electronic alternative to traditional paper ...

Cisco Systems Cisco Systems, Inc., commonly known as Cisco, is an American-based multinational corporation, multinational digital communications technology conglomerate (company), conglomerate corporation headquartered in San Jose, California. Cisco develo ...

, and

Philips Koninklijke Philips N.V. (), commonly shortened to Philips, is a Dutch multinational conglomerate corporation that was founded in Eindhoven in 1891. Since 1997, it has been mostly headquartered in Amsterdam, though the Benelux headquarters i ...

were using Pegasystems’ CRM software, and

BNY Mellon The Bank of New York Mellon Corporation, commonly known as BNY Mellon, is an American investment banking services holding company headquartered in New York City. BNY Mellon was formed from the merger of The Bank of New York and the Mellon Finan ...

announced they would be integrating Pega into its operation. In 2017, Global business insurer QBE began using RPA software from Pegasystems to automate processes and reduce employee workloads.

Ford Motor Company Ford Motor Company (commonly known as Ford) is an American multinational automobile manufacturer headquartered in Dearborn, Michigan, United States. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobi ...

began using Pegasystems’ low code/no code platform for citizen development.

Johnson & Johnson Johnson & Johnson (J&J) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods. Its common stock is a component of the Dow Jones Industrial Average and the company i ...

developed their ClinApp built on Pegasystems’ Infinity suite of applications.

References

External links

* {{official American companies established in 1983 Software companies established in 1983 1983 establishments in Massachusetts Companies based in Cambridge, Massachusetts Software companies based in Massachusetts Customer relationship management software companies Companies listed on the Nasdaq 1996 initial public offerings Software companies of the United States

History

1983–2002

2010–present

Products and services

Clients and projects

See also

References

External links