Pega Acquires Everflow to Add Intuitive Process Mining to the Industry's Most Complete Hyperautomation Solution

Rhea-AI Summary

Pegasystems Inc. (NASDAQ: PEGA) announced the acquisition of Everflow, a Brazilian process mining software company, enhancing its AI-powered decisioning and workflow automation capabilities. This acquisition allows Pega clients to uncover and address process inefficiencies, streamlining operations. Everflow's technology will integrate with Pega's existing platform to offer real-time process optimization and hyperautomation solutions. The new capability is set for limited availability in Q4 2022 and general release in early 2023. Terms of the deal were not disclosed.

Positive

• Acquisition of Everflow enhances Pega's process mining capabilities, enabling clients to optimize operations.
• Integration with Pega's existing platform allows for real-time process monitoring and optimization, driving hyperautomation.
• Expected availability of the new capabilities in Q4 2022 and general release in early 2023 enhances Pega's market offering.

Negative

• None.

New capabilities to find and fix process inefficiencies will extend Pega's market-leading AI-powered decisioning and workflow automation capabilities

CAMBRIDGE, Mass., May 24, 2022 /PRNewswire/ -- Pegasystems Inc. (NASDAQ: PEGA), the software company that crushes business complexity, today at PegaWorld® iNspire announced the acquisition of Everflow, an innovative process mining software company based in Brazil. Everflow's highly intuitive software will enable Pega clients to uncover and fix hidden process inefficiencies that often bog down organizational operations. Combined with Pega's market-leading AI-powered decisioning and workflow automation capabilities, this acquisition will help Pega deliver the most complete hyperautomation solution available for enterprises.

As business complexity continues to rise, process mining has emerged as a critical tool to help organizations streamline bloated and inconsistent processes that slow employee productivity and ultimately harm the bottom line. But two major limitations hold back process mining's full potential: first, most process mining tools are too difficult to use and are understood only by technical business consultants; second, process mining by itself can't fix process problems, it can only identify where those problems lie and suggest possible work arounds.

Everflow will provide Pega clients with an easy-to-use process mining solution that allows businesspeople to analyze and optimize their customer and employee-related processes. It makes it simple for users to automatically model their real-world processes based on organizational activity logs. Then the software analyzes where those processes break down in the field and suggests ways to improve the approach. For example, a retail banking head may deploy Everflow to determine if customers are abandoning the bank's mobile app when it takes too many clicks to complete a transaction, or an insurance executive may discover if back-office bottlenecks in the application approval workflow are slowing their underwriters down.

But the true power of Everflow's elegant solution will be fully unlocked when combined with Pega's market-leading platform for AI-powered decisioning and workflow automation – where these processes already live for many of the world's leading organizations. When integrated, the solution will help Pega clients continuously monitor processes across the enterprise, identify process issues or deviations when they arise, and even fix them on the fly. This will evolve the process mining field beyond static modeling and deliver real-time process optimization, deploying true hyperautomation on an enterprise scale to improve operations and customer experiences.

The new process mining capability is expected to be available for Pega clients on a limited basis in Q4 this year and with general availability early next year. It will be offered as an add-on capability to Pega Process AI™ – a set of Pega Platform™ capabilities introduced last year that uses self-optimizing AI and decision management to help businesses improve their operations in real time. Terms of the deal were not disclosed.

The news will be announced today at Pega's flagship event, PegaWorld iNspire, which is available online on Tuesday, May 24, in the Americas and Europe or Wednesday, May 25, for Asia Pacific and on replays thereafter. After the keynotes, join the Supercharge Your Pega Workflows with Process Mining and Process AI session to learn more about how Pega plans to bring process mining and AI together to deliver the most complete hyperautomation solution available.

For more information, visit www.pega.com/products/platform/process-mining .

Quotes & Commentary:

"Our acquisition of Everflow puts Pega in a position to fulfill the promise of hyperautomation like no other company in the industry," said Alan Trefler, founder and CEO, Pega. "When combined with our intelligent low-code platform, Everflow will help Pega root out business process inefficiencies from end to end in even the largest and most complex enterprises. We know that digital transformation never stops, and this unique and powerful software combination will allow for continuous improvement in a time of continuous change."

"We built Everflow solutions to make the power of process mining accessible and actionable for anyone to use," said Kleber Stroeh, former CEO of Everflow and now current vice president, product mining, Pega. "This philosophy fits perfectly with Pega's mission to crush business complexity by democratizing the tools that help organizations operate at their full potential. We look forward to joining with Pega and using our solution to help solve problems for some of the most important businesses in the world."

Supporting Resources:

• Background: Pega process mining 
• Video: Pega Process AI
• Background: Pega Process AI
• Background: Pega AI powers decisioning that drives better outcomes
• eBook: Ready to bring AI to your business?
• Analyst report: Pega named leader in the Forrester Wave: Digital Process Automation Q4 2021 report

About Pegasystems
Pega delivers innovative software that crushes business complexity so our clients can make better decisions and get work done. We help the world's leading brands solve their biggest business challenges: maximizing customer lifetime value, streamlining customer service, and boosting operational efficiency. Pega technology is powered by real-time AI and intelligent automation, while our scalable architecture and low-code platform help enterprises adapt to rapid change and transform for tomorrow. For more information, please visit www.pega.com.

Press Contact:
Sean Audet
Pegasystems Inc.               
sean.audet@pega.com 
(617) 528-5230
Twitter: @pega   

All trademarks are the property of their respective owners.  

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SOURCE Pegasystems Inc.

FAQ

What is the significance of Pega's acquisition of Everflow?

The acquisition enhances Pega's process mining capabilities, allowing clients to better identify and fix operational inefficiencies.

When will the new process mining capabilities be available to Pega clients?

The new capabilities are expected to be available on a limited basis in Q4 2022, with general availability early in 2023.

How does Everflow's software improve Pega's offerings?

Everflow's intuitive software enables users to analyze and optimize customer and employee-related processes, integrating seamlessly with Pega's automation platform.

What are the expected benefits of Pega's enhanced hyperautomation solution?

The enhanced solution aims to deliver real-time monitoring and optimization of business processes, improving operational efficiency and customer experiences.