Pegasystems helps companies soar through business changes without being tied down by their old processes. The company provides rules-driven business process management software designed to help large companies in the financial services, insurance, and health care industries update their operations and systems to reflect changes in business goals and strategies. Established in 1983, Pegasystems offers tools for analyzing and simulating processes, integrating enterprise applications and portals, managing content integration, and managing processes for customer service, claims resolution, and transaction processing. The company's customers include Aetna, Farmer's Insurance, HSBC, and Vodafone.
Financial services and health care companies are Pegasystems' primary markets, but the company also sells to clients in the manufacturing, government, travel and hospitality, retail, consumer packaged goods, and telecommunications industries. Pegasystems sells its products through its direct sales force, as well as through distributors and resellers.
In 2010 Pegasystems acquired competitor Chordiant Software for about $161 million in cash. The company's business process management offerings complemented Chordiant's predictive decision management software. Acquisition costs and restructuring charges after the purchase did not complement the company's net income or cash flow for that year. In 2011, however, Pegasystem's cash flow and net income again turned up to match its continuously improving revenue.
Founder and CEO Alan Trefler owns more than 53% of Pegasystems. – less