Company: Pegasystems, Cambridge, MA
Company Description: Pega is the leader in cloud software for customer engagement and operational excellence. Brands rely on Pega’s AI-powered software to optimize every customer interaction on any channel while ensuring brand promises are kept. Pega’s low-code application development platform allows enterprises to build and evolve apps to meet customer and employee needs and drive global digital transformation.
Nomination Category: Product & Service Categories - Business Technology Solutions
Nomination Sub Category: No Code/Low Code Platform
 Nomination Title: Pega Infinity Brings AI to More Enterprise Users to Work Faster and Smarter
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the the nominated new or new-version product or service, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:
These were updates made to an existing software suite, Pega Infinity. This version was launched and was GA on October 18, 2022.
- If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):
Total 349 words used.
Pega announced the GA of its newest version of Pega Infinity in October 2022. These specific updates use enterprise-wide AI to help transform how organizations quickly deploy apps, create smarter workflows, and deliver better experiences for employees and customers. This further infusion of intelligence enables all users – from back-office operations to developers, to customer-facing advisors and service reps, to customers – with real-time AI guidance. Some highlights include:
- Developer Assistant Panel provides AI-driven recommendations while building apps and workflows for developers of all skill levels to build better and faster.
- Prediction Widget provides deeper insights and transparency into how AI-powered predictions are made, so users can gain more confidence in their AI.
- Pega Robot Studio enhancements make it faster and easier for users of all skill levels to create and deploy reliable bots that automate tedious tasks.
- Pega Customer Data Connectors enable brands to easily connect Pega’s real-time AI capabilities with existing customer data platforms for deeper customer insights.
- Fast-Release Changes, an enhancement to Pega Customer Decision Hub’s change management module, 1:1 Operations Manager, helping users quickly adapt an existing strategy when an urgent change is needed without disrupting workflows, as well as manage and prioritize multiple work cycles in parallel.
- Impact Analyzer monitors policies, business levers, and AI models in real time to optimize and determine the success of engagement strategies.
- Voice and Messaging AI’s enhanced interaction timeline with transcription capabilities automate call wrap-up functions for agents, while new real-time supervisor alerts provide insights on how to improve experiences.
- Enhanced embedded workflow automation enables companies to extend Pega's workflow automation capabilities to any self-service portal regardless of vendor.
Pega Infinity unifies customer engagement, customer service, and intelligent automation capabilities within a single platform to help accelerate digital transformation across enterprises. By engaging customers with the right message, at the right time, across any channel, clients can improve customer satisfaction, increase customer lifetime value, and boost organizational productivity. Pega's low-code environment helps reduce complexity for accelerated deployments, faster iteration, and greater customer and employee satisfaction. For the full list of new features, please see the references section.
- If you are providing written answers for your submission, you must provide an answer to this third question: Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words):
Total 346 words used.
Forrester named Pega a leader in Leader in The Forrester Wave™: Robotic Process Automation, Q1 2023, a top CRM Offering in The Forrester Wave™: Core CRM Solutions, Q3 2022, and a Leader in The Forrester Wave™: Real-Time Interaction Management, Q2 2022, while Gartner recognized Pega in the Gartner® Critical Capabilities for Sales Force Automation. Forrester TEI studies demonstrated 421% ROI with Pega Intelligent Automation, 489% ROI with Pega Customer Decision Hub, and 598% ROI with Pega’s low-code platform.
Client highlights include:
- Navy Federal Credit Union saved 300,000 hours with citizen developer program
- Shawbrook Bank improved processing time for unsecured loans by 75%
- BECU projects to save 10,000 hours of employee time with Pega
- Telenet saw a 43% increase in digital sales, 20% reduction in churn, a 75% increase in offer acceptance, and a 33% increase in cross-sell.
- At PegaWorld iNspire, Virgin Media Ireland took to the mainstage to explain how it’s used Pega to become fully digital, Citi explained how Pega helped them drive omnichannel customer-centric experiences, and Rabobank explained how Pega’s helped to revolutionize customer experience with low-code and AI.
TechTarget covered the news, stating:
“The update's tilt toward non-data scientist citizen developers adheres to the trend of software vendors -- including tech giants, midsized companies and startups -- orienting AI systems and capabilities toward business users…Pegasystems also targeted business users with new AI capabilities…including Developer Assistant panel, an application that provides recommendations to developers; Prediction Widget, which shows users how AI-powered predictions are made; and Pega Robot Studio, which enables users to build and deploy bots to automate repetitive tasks….The vendor focused on its core customer engagement technology with new capabilities such as Pega Customer Data Connectors that link Pega Hub with customer data platforms such as Adobe and Celebrus, and Impact Analyzer for monitoring business goals and AI models in real time.”
Finally, Pega’s Q4 and FY 22 earnings reported highlighted profitability with annual contract value (ACV) grows 16% year over year (constant currency) despite economic headwinds. Pega also had a strong start to 2023, reporting 15% ACV growth.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 178 words used.
- Our analyst report page dives deeper into the specifics of why Pega Infinity features are leading the market.
- Our media coverage page shows recent press coverage of Pega's innovation and how well Pega Infinity continues to be received by media.
- The demo of Pega Infinity shows the features in action.
- Our Investors Page has additional financial information to show Pega's growth over the past year.
- Our PegaWorld iNspire replays page offers the most recent client testimonials and successes from our event in June 2023.
- Our customer success page features additional client success stories using a variety of Pega Infinity capabilities.
These supplementary materials show how Pega is delivering pragmatic, AI-powered decisioning that enables more efficient work, hyper-personalized customer engagement, and better employee experiences. Pega's goal is for AI to be more accessible, transparent, and functional to help an entire organization make better and faster decisions that get results for the greater good of the business and its customers. These new updates help users apply AI to their business to open new paths for innovation and deliver real results.
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