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Source: free-articles
Solution previewed at Sibos 2003, SingaporeCAMBRIDGE, Mass October 20, 2003 " Pegasystems Inc. (NASDAQ: PEGA), a leading provider of rules-based, smart business process management (BPM) software, today outlined a new corporate backbone application for managing rogue transactions that cost financial institutions an estimated billion dollars per year in wasted overhead expenses, quality control and customer satisfaction. The company will preview and demonstrate components of the new solution at the SWIFT-organised Sibos financial services conference in Singapore,, quality control, October 20-24.The application, built on Pegasystems' J2EE-compliant BPM platform, PegaRULES Process Commander, unifies Pegasystems and third-party software applications on a single platform for managing exceptions " transactions that include errors, disputes, violations, and other non-standard, quality control, operating events " across a company's operations. Now, rather, quality control, than navigating several different systems to find the, quality control, information needed to resolve exceptions, service agents and, quality control, operations personnel can access relevant customer information through the solution's unified platform. The enterprise-wide application is scheduled for launch in early 2004.Pegasystems is a leading supplier of enterprise software to the financial services industry, counting more than 60 percent of the world's leading banks among its customers*. The new initiative is designed to provide senior management with the ability to bridge traditional, quality control, organisational boundaries to help improve operational performance and deliver superior customer service. The application will help provide the critical backbone required for total quality management initiatives such as Six Sigma.Customers have more faith in companies that deal quickly and efficiently with difficult situations, said Henry Ancona, president and COO, Pegasystems. Our goal with this application is no less than to provide senior management with the visibility and control tools they need to help monitor and manage performance and customer relations across the organisation, helping to drive down exceptions while improving customer service and overall quality.According to TowerGroup, a leading financial services research and consulting firm, exceptions are the single largest cause of customer complaints, financial exposure and operational cost for a financial institution. Although they constitute only 1-2 per cent of total transaction volume, they are the most expensive transactions that an institution processes. Exceptions account for approximately ten per cent (or $5 billion) of back-office transaction processing costs. TowerGroup estimates overall back-office IT expenditures by financial services organisations to be over $50, quality control, billion per year. The new Pegasystems solution helps companies improve customer service by providing consistency across multiple lines of business and facilitating the management of tasks so that they are in line with agreed service levels for a product or customer. It also automates exception management tasks that are currently performed manually. Some of these tasks include providing service agents with scripts and correspondence templates to match specific situations, and collecting data for reporting and quality control. The solution creates a layer of business rules that can consolidate the necessary information, quality control, from disparate systems. Unlike systems that, quality control, use hard-coded application logic, the rules layer changes to accommodate new policies and market shifts. This enables companies to focus on customer service, rather than technology.The application's features include:dashboards that track actual individual and group performance against goals, in real-time;functionality, such as service level agreements, that empowers relationship managers and operations managers to drive the service provided to individual customers, across the organisation;customer report cards that offer an enterprise-wide view of the customer's activity;real-time pattern, trend and threshold monitoring to facilitate early, quality control, detection of repetitive exceptions; random and specific work selection for audit and quality review;event-driven surveys to customers and employees;and guided processes for managing customer complaints.-ENDS-About, quality control, Pegasystems Pegasystems Inc. (NASDAQ: PEGA) provides rules-based, smart business process management (BPM) software to large organisations, helping to deliver improved ROI and providing them with the flexibility and agility to respond to changing business needs. With annualised revenues of approximately $100 million and a blue-chip customer base, the company offers applications for, quality control, the financial services, healthcare, insurance and government markets, as well as a cross-industry, quality control, BPM application. Pegasystems is headquartered in Cambridge, Mass., and has regional offices in North America, Europe and the Pacific Rim. For more information, visit www.pega.com. For further information contact:Alex CrawshawPirate Communications +44 (0)20 7760 7055alex@piratecomms.comBruce MacDonaldPegasystems Inc.(617) 374-9600, ext. 6491bruce.macdonald@pega.com
