Pega Named a Leader in Customer Service Solutions by Independent Research Firm
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Insights
The recognition of Pegasystems Inc. as a leader in The Forrester Wave: Customer Service Solutions report is a significant endorsement for the company's customer service platform, particularly in the 'current offering' category. This high rating signals to investors and potential customers that Pega's product is not only robust in its current form but also stands out among competitors. Such an accolade may positively influence customer perception and could lead to an increase in market share, particularly within large enterprises that require sophisticated customer service solutions.
Investors should note that Pega's success in multiple Forrester Wave reports, including Real-Time Interaction Management and Core CRM Solutions, as well as the Gartner Magic Quadrant for CRM Customer Engagement Center, suggests a consistent and strong market position. This could translate into sustained revenue growth and stability, which are key indicators of a company's long-term financial health.
The details highlighted in the Forrester report underscore Pegasystems' focus on AI decisioning and workflow automation within customer service. The emphasis on workflow automation and real-time decisioning is particularly relevant as businesses seek to streamline operations and improve customer experiences. Pega's low-code platform approach, which facilitates rapid development and deployment, is also a critical factor in its ability to cater to the complex needs of large enterprises.
From a technological perspective, Pega's AI-powered workflows and intelligent guidance for customer service agents are indicative of the company's investment in innovation. These features are likely to drive efficiency and customer satisfaction, which can result in cost savings and increased loyalty. The ability to anticipate customer needs and proactively engage through the use of real-time data is a competitive advantage in the rapidly evolving field of customer service technology.
For investors, the Forrester report's findings may have implications for Pegasystems' financial performance. The high scores across numerous criteria, including case management and customer self-service, suggest that Pega's product offerings are well-aligned with market demands. This alignment has the potential to drive sales and improve profit margins, especially as businesses increasingly prioritize digital transformation and customer experience.
Furthermore, Pega's pricing flexibility and transparency, as highlighted in the report, could be a strategic move to attract a broader range of clients, from mid-sized businesses to large corporations. The company's ability to offer competitive and transparent pricing may also reflect operational efficiencies that could lead to improved financial outcomes. Investors should monitor Pega's upcoming financial statements for any growth in revenue or market share that may be attributed to these recognized strengths.
Pega Customer Service earned top score in ‘current offering’ category
In the report, under the headline “Pegasystems excels at automating and guiding service journeys to the best outcomes,” the report says: “Pegasystems’ outstanding vision is to guide and automate every customer service journey. Pega Customer Service, part of its unified CRM, combines workflow automation, real-time decisioning, and a low-code platform that’s particularly geared to large enterprises that support complex processes not necessarily contained to the front office.” It later states: “Pegasystems uses real-time customer context, history, and journey data to anticipate needs and proactively engage — for example, understanding a customer’s intent or guiding agents through workflows that transition from self-service to agent-assisted based on outcomes.”
Pega was among 12 customer service solutions providers evaluated by Forrester Research for the report. In addition to receiving the highest score in the ‘current offering’ category, Pega received the highest scores possible in 17 criteria, including case management, customer service management/operations, web/mobile customer self-service, process management, business intelligence, certifications, extensibility, vision, innovation, and pricing flexibility and transparency.
Forrester evaluated Pega Customer Service™, an intelligent service automation platform that provides AI-powered workflows for customer service at scale. It intelligently guides and seamlessly automates every customer service journey across the enterprise to provide customers effortless personalized experiences - from proactive to self-service and, if necessary, through the contact center and back office. Powered by unified AI and workflow automation, the solution accelerates resolutions for customers across any channel and streamlines the experience for agents with intelligent guidance.
This report is among Pega's many analyst recognitions for its enterprise AI and workflow automation platform. Last week, Pega was recognized as a Leader in The Forrester Wave™: Real-Time Interaction Management (RTIM), Q1 2024 report (2). Other recent recognition includes being named a Leader in the Gartner Magic Quadrant for the CRM Customer Engagement Center 2023 (3) report, The Forrester Wave™ for Core CRM Solutions, Q3 2022 (4) report, and The Forrester Wave: Robotic Process Automation, Q1 2023 report (5). For more background on these and other analyst reports, visit www.pega.com/analyst-reports.
Quotes & Commentary:
“As serving customers gets more and more complex, Pega continues to innovate with unparalleled time-tested AI and workflow automation capabilities,” said Neal Beliveau, vice president, product, customer service, Pega. “We believe this new Forrester report adds even more validation that we are fulfilling our vision to make service effortless for everyone by enabling clients to intelligently guide and seamlessly automate every service journey across every channel from start to finish.”
Supporting Resources:
- Report download: The Forrester WaveTM: Customer Service Solution report, Q1 2024
- Solution background: Pega Customer Service
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Capability background: How AI Improves Customer Service
- Forrester Research, “The Forrester Wave: Customer Service Solutions, Q1 2024” by Kate Leggett, March 6, 2024
- Forrester Research, “The Forrester Wave: Real-Time Interaction Management, Q1 2024” by Rusty Warner, February 26, 2024
- Gartner, Inc., "Magic Quadrant for the CRM Customer Engagement Center," By Pri Rathnayake, Wynn White, Drew Kraus, November 1, 2023
- Forrester Research, “The Forrester Wave: Core CRM Solutions, Q3 2022,” By Kate Leggett, July 27, 2022
- Forrester Research, “The Forrester Wave: Robotic Process Automation, Q1 2023” by Bernhard Schaffrik, February 27, 2023
About Pegasystems
Pega provides a powerful platform that empowers the world’s leading organizations to unlock business-transforming outcomes with real-time optimization. Clients use our enterprise AI decisioning and workflow automation to solve their most pressing business challenges – from personalizing engagement to automating service to streamlining operations. Since 1983, we’ve built our scalable and flexible architecture to help enterprises meet today’s customer demands while continuously transforming for tomorrow. For more information on how Pega empowers its clients to Build for Change®, visit www.pega.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240306369138/en/
Press Contact:
Sean Audet
Pegasystems
sean.audet@pega.com
Source: Pegasystems Inc.
FAQ
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