PEGA | Market Cap: $5.3B (07/13/26)
Industry:
Software

DESCRIPTION

Pegasystems makes enterprise software for large organizations and government agencies that need to automate complex, regulated workflows and deliver AI-powered customer decisions. Pega's two core products are Pega Platform, a low-code workflow automation engine, and Customer Decision Hub (CDH), an AI decisioning tool that determines the "next best action" for each customer interaction in real time across every channel. Pega sells vertical applications built on top of the platform for industries including financial services, healthcare, insurance, government, and communications. Pega sells directly through an enterprise sales force and relies heavily on global systems integrators like Accenture, Cognizant, and TCS for implementation. Pega has completed a transition from perpetual licenses to a subscription-based model, with Pega Cloud ACV now representing roughly half of total ACV. Rather than charging per user, Pega prices based on the volume of workflows, cases, or decisions the system processes — so as clients automate more, Pega's revenue grows. A key newer product is Pega GenAI Blueprint, a generative AI tool where users describe a business process in plain language and AI agents produce a complete, executable workflow application in minutes, which Pega uses in every client engagement. Pega's core AI thesis — which it calls Predictable AI — is to use LLMs at design time and run production workflows through deterministic, auditable engines at runtime, which Pega argues is essential for regulated industries where consistency is non-negotiable.

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