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Killexams : Pegasystems Certified learner - BingNews Search results Killexams : Pegasystems Certified learner - BingNews Killexams : I Was Wrong About Microsoft And Google

Perhaps it was Donald Trump refusing to ever admit he was wrong (about President Obama’s birthplace, immigrants, crowd size, weather maps, Russia, Kim Jong-un, climate change, Covid, voter fraud, infrastructure week – it’s a long list), but like avoiding certain things (orange skin, drinking bleach, committing treason), publicly admitting error has suddenly become fashionable. The New York Times recently featured eight “I Was Wrong” columns by pundits like Thomas Friedman, Michelle Goldberg, and Paul Krugman admitting they were wrong about Trump voters, Facebook, Al Franken, Chinese censorship, protests, capitalism, inflation, and Mitt Romney (and his dog). It was fun practicing these admissions, although they all followed the same formula: I may have been wrong about this specific issue, but I was still right about the big picture! I only regret the Times wasn’t able to solicit a contribution from Susan Collins.

In this spirit, I have my own admission. Two summers ago – back when Susan Collins was more than a punchline and overt treason was just a gleam in Donnie’s eye – Microsoft and Google announced efforts to calm America’s troubled streets (George Floyd, Breonna Taylor) with free online programs to close the digital skills gap. Microsoft announced new curriculum from LinkedIn Learning and the GitHub Learning Lab and lowered the cost of certifications to bring digital skills to an additional 25M Americans. In Google’s case, it was 100,000 scholarships for new online certificates (data analyst, project manager, UX designer). In a Gap Letter titled The False Allure of Online Training, I lampooned the tech giants, saying “when the problems include racial injustice and generational damage, online training is biting off more than it can chew.” I went on to highlight the fact that neither company planned to actually hire any of the newly trained talent. “Microsoft and Google: if they’re not good enough for you, why should another employer want them?”

So allow me join the ranks of penitent pundits by acknowledging I was wrong to castigate Microsoft and Google for launching online courses (although right as rain about the big picture – skills gap, lack of clear pathways to socioeconomic mobility, death of the American Dream). Doing so violated a principle I hold dear: not letting the best be the enemy of the good. Sure, it would be great if Microsoft and Google could singlehandedly wrench America’s workforce into alignment with employer needs. But that’s asking too much, even for businesses that collectively generate over $200B in annual profit.

I now recognize that casting aspersions on Microsoft and Google is like blaming McGraw-Hill and HMH for what ails K-12 education. Actually worse, because Microsoft and Google have better curriculum. And it’s not just these two. AWS, Salesforce, VMware, Cisco, Oracle, Pega, Appian, Workday, Facebook, Adobe, CompTIA, SAP, Snowflake, and lots of other tech leaders have built out high-quality, skills-based online courses leading to certification exams for the most in-demand digital skills. Besides addressing skills employers want but can’t find, these courses have something else in common. They’re all 100% asynchronous.

In this era of digital transformation, self-paced online courses are just like textbooks: necessary but insufficient. Learners and job seekers who can successfully complete these courses on their own probably don’t need much help getting a good job. They’re not the ones we should be thinking about. And for those who don’t yet have a good job – struggling frontline and gig workers without the necessary motivation, aptitude, and preparation to progress on their own (and where life is likely to get in the way even if they hit that trifecta) – I’d bet completion rates on asynchronous tech credentials are below the education equivalent of the Mendoza Line (the MOOC Line i.e., 5%).

Microsoft, Google and the rest can’t be expected to solve this problem. They’re not schools or training companies and will never be (principally because they turn up their noses at low gross margins). But they can recognize the problem. And so kudos to Google, which back in February announced $100M of funding for wraparound services, specifically funding Year Up and Merit America to provide synchronous engagement for job seekers. Wraparound services include instruction (i.e., classes), coaching, and interview prep. And while they have their attention, Year Up and Merit America will also work on soft skills like teamwork and communication. Google’s goal is 20,000 additional (low-income, underrepresented) certificate completers, or $5K per life transformed.

Deploying wraparound services to mine America’s newly discovered motherlode of tech training courseware for the benefit of tens of millions who’ve been shut out of the digital economy also has the potential to fix our broken workforce system. I’ve written previously about state and local workforce boards, which prioritize speed-to-placement and counseling over human capital development and therefore find themselves in a vicious circle of attracting only the lowest skill jobs and job seekers. Now a new service provider is seeking to play the role of Year Up for workforce boards. ShiftUp is delivering similar wraparound services for in-demand tech credentials, dramatically elevating 5% completion rates; ShiftUp is currently over 75% for these in-demand credentials. ShiftUp is now supporting workforce boards in New Jersey, Michigan, and Washington DC. Again, the price tag is in the neighborhood of $5K per life transformed.

With nonprofits and workforce boards taking the lead on making tech credentials accessible and meaningful for displaced and underserved Americans, where are colleges and universities in this pixelated picture? Largely nowhere. Sure, hundreds of schools have signed up for AWS Academy and Pathstream is helping over 30 colleges and universities deliver certifications from Facebook, Salesforce, Tableau, and Asana. But all told, well under 5% of accredited institutions are pairing instruction with any off-the-shelf online courses from tech leaders to create faster + cheaper pathways to good jobs.

Why are colleges missing the boat? First, there are dozens of tech companies. Developing a comprehensive tech credential offering would require going company-by-company. And within a university, who’s set up to do this?

I came to the answer two weeks ago during a tech tête-à-tête with a dean at a Midwestern university. The e-mail discussion involved this very subject: how her university could begin to offer these wondrous new tech credentials. I suggested she’d need to add synchronous instruction in order to make them work for students. Her response:

Synchronous is not quality online education. It is something else but not ONLINE. It is a hybrid and I am not sure why anyone would think that is the way to go. On demand, on your own time is imperative for today's consumer. Like MOOCs this will not last.

Why she cited MOOCs – a model that failed primarily due to lack of synchronous engagement – to make her point is a door I opted not to walk through. But I suggested that if she wanted to reach those seeking to land a good first job, she might take a different view, and cited Google’s $100M investment.

Her response:

I have been in the business a long time, this is the flavor of the month like MOOCs which I knew were not going to last (and a lot more than 100M got spent on MOOCs). We would be happy to create asynchronous versions for our [hundreds of] corporate partners.

And with that clarifying statement, I pinpointed my correspondent: dean of a continuing education division with a mandate to serve corporate partners, make money, and contribute that money back to the core university. She’s serving customers and her customers’ employees are different in many ways from the typical Merit America participant: early 30s with a decade or more working in restaurants and retail. One way in particular they’re different: they’re much more likely to have the motivation, aptitude, and preparation to complete asynchronous online courses unaided.

Unfortunately, if you talk to a college or university about Microsoft, Google, AWS, Salesforce and the like, this is where you end up: the periphery, a borderland known as continuing education. There’s little sense that these remarkable new educational resources could be useful for full-time students or help the institution fulfill its mission. And that’s a shame.

Which leads me to a third reason for university inaction on tech credentials. As Postsecondary Analytics’ Nate Johnson said on last week’s Inside Higher Education (The Key) podcast, amidst enrollment wreckage, there are bright spots in student demand: areas like technology. “But those are the most costly fields for... instruction... You have to hire people who have those skills.”

So even if colleges could figure out how to gather these credentials and somehow activate the core instead of continuing education, they’d still have to find instructors. And where are colleges going to find people to teach AWS, Pega, Snowflake, and Workday? Not from Ph.D programs! Experts are out there, but they’re scarce (hence skills gap). And they’ll be hard for colleges to recruit: they’re practitioners, not career educators, and they’re already making a much better living than career educators. Colleges would have to appeal to their better angels. And to do that, they’ll probably have to figure out how to serve students who really need the leg up these programs can provide.

In response to these challenges, Hire-Train-Deploy leader SkillStorm — an Achieve Partners portfolio company — came up with an answer. SkillStorm entered into agreements with AWS, Pega, Salesforce, Appian, and CompTIA and is setting up white-label tech cert programs for university partners. What SkillStorm calls its Accelerator program solves problems #1 and #3: the first one-stop shop for the most in-demand tech certifications with a large bench of qualified instructors. Then SkillStorm runs synchronous programs (one hour per day, five days per week). By working with multiple colleges and aggregating enrollments, SkillStorm is able to launch cohorts weekly. (The one problem SkillStorm hasn’t solved yet is continuing education; that’s where SkillStorm is plugging in.)

With partners like Pathstream and SkillStorm Accelerator, colleges and universities have no excuse for avoiding Microsoft, Google, and the other companies leading digital transformation. And while higher education will instinctively push these programs to continuing ed, as soon as these programs come online, the appeal for students who’ve paid for longer and more expensive degree bundles will become obvious. As these last-mile skills could not be more meaningful for landing good jobs, core students will find them and either force schools to include them in degree programs or perhaps convince colleges to situate them as building blocks in stackable credentials (e.g., upside-down degrees).

Come to think of it, after unjustly accusing them two years ago, the only one with an excuse for avoiding Microsoft and Google is me.

Fri, 05 Aug 2022 01:00:00 -0500 Ryan Craig en text/html
Killexams : Devops Engineer Pega (Senior)

ItJob met ID 473610 niet gevonden.

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Tue, 12 Jul 2022 01:58:00 -0500 NL text/html
Killexams : Top skills to make a successful career as an RPA developer

A decade ago, no one would have imagined machines taking over much of the human work. That is how the technology industry is evolving day by day. People still wonder about the need for this change. Doing the same, monotonous job iteratively on a daily basis is tiresome. But what if employees no longer have to do rudimentary unproductive jobs! This is where Robotic Process Automation (RPA) comes in. Organizations can deploy their employees in meaningful and creative jobs that demand human intelligence to do the job and assign the routine structured jobs to a bot. Automation can be used in a variety of industries, across all geographies, and for a variety of service lines.

The global RPA industry is estimated to grow to $11 billion by 2027. Approximately 70% of businesses surveyed in 2021 said they had planned to hire more RPA developers within a year. According to a Forrester Consulting survey, 66% of respondents believe RPA restructures existing work, allowing employees to engage in more human contacts, and 60% believe RPA allows people to focus on more meaningful, strategic duties. One of the top three benefits that 85% of surveyed companies hope to accomplish through RPA is improved customer service. Increased efficiency (86%), deeper insights into customers (67%), and improved customer service (57%) are among the other advantages.

Whether one is looking to hire RPA developers to expand their automation team or grow their career as an RPA developer, here is a list of the top six RPA skills every developer should have:

Management of business processes

Recognizing and suggesting the processes that will gain benefits from RPA is a challenging task. Developers must first understand their company’s operations and the elements that affect them. Also, if any exceptions apply, they should interact with stakeholders directly to learn about the specific duties they are responsible for and gain a better grasp of the procedures. The development of these skills is supplemented by knowledge of business processes management methodologies such as Six Sigma or Lean. Developers will need strategic planning skills to define design goals for an RPA project.

Experience in Data Analytics

Any Robotic Process Automation starts with collecting and analysing the data. An organization’s relational database is the data source for the bots and SQL queries are the easiest and most efficient to access this data. So, it is important for an RPA developer to excel in SQL as it is the core of database integration.

Understanding a company’s IT infrastructure

Not simply upgrades, but everything that occurs “behind the scenes” can have an impact on RPA performance. This is particularly true for operations that necessitate integration with multiple systems inside a company. As a result, developers must have a solid understanding of their company’s internal systems to ensure the bots interact with all necessary programs and devices to accomplish assigned tasks.

Coding Skills

Even though RPA technologies are low-code, developers should nevertheless understand the intricacies of how they function. Moreover, they should have a grasp of the underlying languages of RPA platforms. This is because creating and maintaining RPA implementations become more complex with rapid usage. Knowing Visual Basic.NET, for example, provides access to Microsoft’ s collection of prebuilt methods for overseeing all data types for RPA systems.

Working knowledge of RPA platforms

According to hiring managers, having expertise with RPA technologies that accept the low-code paradigm, such as Automation Anywhere, Blue Prism, Pega, and UiPath, is beneficial to members of their automation teams. While coding skills are an essential aspect of RPA, applicants who are proficient with these platforms may not require considerable coding abilities or knowledge of a variety of programming languages to complete tasks.

Preparing your workforce to hone skill sets of RPA technologies will boost organization productivity by allowing employees to perform strategic duties, Boost customer engagement through increased efficiency, gain deeper customer insights and enhance customer service.

Why do Businesses Need an RPA developer?

RPA applications will free up employees from carrying out mundane tasks and taking up challenging assignments. It enhances productivity and reduces staffing costs for your organization. Most importantly, it eliminates human errors from the system.

RPA developers have a pivotal role to play during the entire life cycle of software development. So, Software developers, software engineers, software test engineers, and quality analysts can upskill themselves by learning the intricacies of RPA development.

We offer Microsoft Certified: Power Automate RPA Developer Associate certification that enhances career opportunities for professionals in this realm. Through this certification you hone capabilities to review solution requirements, create process documents, and cultivate skills to design, develop, and evaluate solutions.

Also, we have developed two tools namely the Learning Needs Analysis tool and the Capability Development Framework to build your workforce competencies. While the Learning Needs Analysis tool assesses the skill gaps of your organizational workforce and the expected competencies to meet the organizational objectives the Capability Development Framework is a holistic skill development framework designed to upskill the modern workforce across all stages helping them to learn new-age technologies like RPA development and be a valuable resource for the organization.

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Views expressed above are the author's own.


Wed, 20 Jul 2022 01:54:00 -0500 Bhavesh Goswami en-US text/html
Killexams : Decision Intelligence Market Is Thriving Worldwide with Pegasystems, Aeye, Busigence Technologies, Aera Technolog

Latest Study on Industrial Growth of Worldwide Decision Intelligence Market 2022-2028. A detailed study accumulated to offer Latest insights about acute features of the Worldwide Decision Intelligence market. The report contains different market predictions related to revenue size, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary and SWOT analysis.

Get Free Exclusive PDF sample Copy of This Research @

Some of the key players profiled in the study are: IBM (United States), Aeye (United States), Busigence Technologies (United States), Aera Technolog (United States), (United Kingdom), Tellius, Inc. (United States), PYRAMID ANALYTICS (Netherlands), Pegasystems Inc. (United States), Quantellia LLC. (United States) and Diwo (United States).

Scope of the Report of Decision Intelligence
Decision intelligence is a practical domain that encompasses a broad range of decision-making techniques, bringing together multiple traditional and advanced disciplines to design, model, align, execute, monitor, and tune decision models and processes. Decision management (including advanced nondeterministic techniques such as agent-based systems) and decision support are among these disciplines, as are techniques such as descriptive, diagnostic, and predictive analytics. Decision Intelligence (DI) is the commercial application of artificial intelligence (AI) to the decision-making process in all areas of a business. It is outcome-oriented and must meet commercial objectives. Decision Intelligence is being used by organizations to optimize every department and Boost business performance. Decision Intelligence enables businesses to use AI and data to make quick, accurate, consistent decisions and address specific business needs and problems. It enables data to be collected and machine learning models to be used to predict accurate outcomes for optimal commercial decision-making.

The titled segments and sub-section of the market are illuminated below:

by Application (BFSI, Healthcare, Energy, Media and Entertainment, Oil and Gas, Retail, Transportation, Others), Deployment (Cloud, On-premises), Services (Demand Forecasting, Discovering Cause, Logistics Optimization), Technology (Analytics, Machine Learning), Modules (Human-based, Hybrid-based, Machine-based) Players and Region – Global Market Outlook to 2027

Market Drivers
Technological Development in AI Made is Convenient to Lower the Errors during Human Decision Making Capabilities Has Brought a Necessity to Adopt Decision Intelligence.

Growing Digital Dependency of Consumers is developing the AI Technology.

Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa

Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.

Have Any Questions Regarding Global Decision Intelligence Market Report, Ask Our [email protected]

Market Leaders and their expansionary development strategies

Tellius, the AI-driven decision intelligence platform, is partnering with Databricks to provide joint customers the ability to run Tellius natural language search queries and automated insights directly on the Databricks Lakehouse Platform, powered by Delta Lake, without the need to move any data. Now, any business users and technical users alike can use Tellius to engage directly with their data and models in Databricks.
Quantexa, a leading global provider of Contextual Decision Intelligence solutions, announced in June 2022the launch of its inaugural Partner Program, a global framework to better support the growth and success of its consulting, delivery, technology, and data partners. The new global program gives partners exclusive access to technology roadmap updates, in addition to training and certification, marketing, and co-selling opportunities. The co-innovation program offers customers an easier way to validate a partner’s technical capabilities and identify the right partner(s) to help meet their industry-specific needs.
There is currently no legislation in place to govern the use of AI. Rather, AI systems are governed by existing regulations. These include laws governing data protection, consumer protection, and market competition. Bills have also been introduced to regulate specific AI systems. Companies in New York may soon be required to disclose when they use algorithms to select employees. Several cities in the United States have already prohibited the use of facial recognition technology. The planned Digital Services Act in the EU will have a significant impact on online platforms’ use of content-moderation algorithms, which rank and moderate online content, predict our personal preferences, and ultimately decide what we read and watch.

Strategic Points Covered in Table of Content of Global Decision Intelligence Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Decision Intelligence market

Chapter 2: Exclusive Summary – the basic information of the Decision Intelligence Market.

Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Decision Intelligence

Chapter 4: Presenting the Decision Intelligence Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.

Chapter 5: Displaying the by Type, End User and Region/Country 2015-2020

Chapter 6: Evaluating the leading manufacturers of the Decision Intelligence market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile

Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2021-2027)

Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

finally, Decision Intelligence Market is a valuable source of guidance for individuals and companies.

Read Detailed Index of full Research Study at @

Thanks for practicing this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.

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New Jersey USA – 08837
Phone: +1 (206) 317 1218

Sun, 03 Jul 2022 21:54:00 -0500 Newsmantraa en-US text/html
Killexams : Pegasystems Inc.: Pegasystems Reports a Rough Quarter in a Turbulent Environment; FVE Down to $74 No result found, try new keyword!Founded in 1983, Pegasystems provides a suite of solutions ... University of Illinois at Urbana-Champaign. He also holds the Certified Public Accountant and Accredited in Business Valuation ... Wed, 27 Jul 2022 21:48:00 -0500 en-US text/html Killexams : Pegasystems Inc. (PEGA) CEO Alan Trefler on Q2 2022 Results - Earnings Call Transcript

Pegasystems Inc. (NASDAQ:PEGA) Q2 2022 Earnings Conference Call July 27, 2022 5:00 PM ET

Company Participants

Alan Trefler - Founder and CEO

Kenneth Stillwell - CFO

Conference Call Participants

Rishi Jaluria - RBC

Steve Koenig - SMBC Nikko

Vinod Srinivasaraghavan - Barclays

Kevin Kumar - Goldman Sachs

Joseph Meares - Truist

Mark Schappel - Loop Capital

Joey Marincek - JMP Securities


Good day, and welcome to the Pega Earnings Call. Today's conference is being recorded.

At this time, I would like to turn the conference over to Mr. Kenneth Stillwell, CFO. Please go ahead, sir.

Kenneth Stillwell

Thank you. Good evening, ladies and gentlemen, and welcome to Pegasystems Q2 2022 Earnings Call. Before we begin, I'd like to read our safe harbor statement. Certain statements contained in this presentation may be construed as forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The words expects, anticipates, intends, plans, believes, will, could, should, estimates, may, targets, strategies, projects, forecasts, guidance, likely and usually or variations of such words and other similar expressions identify forward-looking statements, which speak only as of the date the statement was made and are based on current expectations and assumptions. Because such statements deal with future events, they are subject to various risks and uncertainties. actual results for fiscal year 2022 and beyond could differ materially from the company's current expectations. Factors that could cause the company's results to differ materially from those expressed in forward-looking statements are contained in the company's press release announcing its Q2 2022 earnings in the company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2021, and other exact filings with the SEC.

Investors are cautioned not to place undue reliance on such forward-looking statements, and there are no assurances that the matters contained in such statements will be achieved. Although subsequent events may cause our view to change, except as required by applicable law, we do not undertake and specifically disclaim any obligation to publicly update or revise these forward-looking statements whether as a result of new information, future events or otherwise.

And with that, I'll turn the call over to Alan Trefler, Founder and CEO of Pegasystems.

Alan Trefler

Thank you, Ken, and thank you to everyone who has joined today's call.

This year has turned out to be an extremely volatile business environment. Our clients faced challenges related to the pandemic, labor shortages, the war in Europe, everything is causing global disruptions as well as, of course, rising inflation, high oil prices, supply chain challenges, economic and security and most recently, currency exchange headwinds.

Some of these trends actually make the need for our software even more pronounced. In fact, we believe Pega is uniquely suited to help enterprises manage through such uncertainty. However, it does impact the market. And with the threat of recession looming, we've pivoted to lean more heavily on our Build for Change messaging.

We've been updating our marketing and sales positioning, which you can see on In an environment where efficiency and productivity of paramount our low-code software platform for AI power decisioning and workflow automation helps demanding enterprises work smarter, unify experiences and adapt instantly. So they can tackle what's next.

At Pega, we're taking the volatility in macroeconomic environment seriously. We're making cost management as much of a priority for us as it is for our clients with us having a focus on operational efficiency and limiting increases to our cost structure. We've paid and staffs to make sure we're staying close to our clients by removing some of the layers that have crept in over the last few years. And by ensuring our talent is directly connected to clients, we believe will both Boost outcomes and our long-term relationships.

At the same time, we continue to focus on innovation to ensure we're able to provide the most advanced technology platform for our clients' needs today and into tomorrow. Ken will talk about some of the financial impacts on our business in a few moments.

Now I'll turn to some highlights. Since we last spoke, we've continued to enhance our software and drive strategic partnerships to make it easier for clients to be productive and address their customers' needs with our market-leading Pega Infinity software. For example, we launched an updated component that makes it easy to embed Pega into sales force environments to further automate customer service workflow. Called Pega Process extended for salesforce, it's now available on the Salesforce app exchange and allows organizations an easy way to drag and drop Pega Infinity workflow automation and AI-powered decisioning directly into existing salesforce lighting deployments.

That makes the whole of experience operate within users' familiar Salesforce desktop even as Pega drives the business logic and workflows .And we're also very excited about the low-code app factory concept. We're pleased to see our clients adopt our governed approach to low-code development. The goal is to have clients get the benefit of speed and collaboration capabilities of our development platform, while at the same time, ensuring they're building apps that can evolve scale and deliver value well into the future. It's very important that the governance capabilities because over the years, people have often tried to drop in little systems to do an improvement here, an improvement there. And frankly, large sophisticated organizations realize that, that leads to just the next generation of technical debt, and they find themselves trying to rip out all the LOTUS notes apps or all the SharePoint apps.

By us having a governed approach, we can share best practices and make sure that the right capabilities are baked into every low-code project and have them all hang together with this Pega app factory concept that brings business and IT together in support of organization-wide deployments. This is coupled with our Pega Process Fabric that makes distributed workflow applications tie together to create a single view of work that might be done for a specific purpose or that might be related to a specific customer relationship.

The case study that Ford Motor Company presented at our exact Pega world is a great example of this approach. They have embraced best practices to deploy the Pega has factory, which enables is developers to create applications while following governance guidelines with support from an IT coach. Ports created a center of excellence and shared platform teams have joined forces to deploy the factory apps while working with Pega to develop best practices and alleviate IT backlog.

Now another exciting development is that we've extended our cloud choice offering by expanding our multifaceted partnership with Google Cloud to help our joint customers accelerate their digital transformation. And we've also made the Google cloud environment available on Pega Cloud as a fully managed as a service offering. We acquired Everflow, an innovative process mining software company whose intuitive software will enable pet clients to uncover and finish in process inefficiencies. These can often back down organizations and making them visible is key to improvement, combined with Pega's market-leading AI power decisioning and workflow automation capabilities, this will involve process mining beyond traditional static modeling to deliver real-time process optimization, what we sometimes refer to as true hyperautomation on an enterprise scale that will Boost operational efficiency and customer experiences.

And finally, we continue to really receive industry recognition from leading analyst firms. In late May, Forrester named Pega a leader in the Forrester Wave for real-time interaction management. This is how you use AI to make decisions to provide the next best action to the customers and one of our clients. Out of 14 of the most significant players in this fraud category, Pega received top scores in the current offering and strategy categories and the highest score possible in 25 or 28 criteria, including the highest possible score in the market presence categories.

Pega sets the gold standard for sophisticated enterprise deployments, its value-based approach and innovation track record burn Pega near-perfect marks across our strategy criteria. I'm also really pleased that just today, Forrester released its core CRM solutions report in which Pega receives the top score in the current offering category as well as our highest score possible in 16 of 35 criteria.

Out of four companies that were considered leaders Pega received top scores in categories, including CRM user productivity, assistance, guidance, next best action, digital sales, customer success, actionable insights and omnichannel engagement. The report states, Pegasystems offers exceptional automation and process management within the CRM. Pegasystems Vision is one of an autonomous CRM, where automation offloads were petite work and AI assist users, increasing their efficiency and the customer experience.

Pega uses real-time customer context and journey data to anticipate customer needs and proactively even pre-emptively engage. Reference clients stated that Pega provided "a one-shop stop for our frontline team and praise the products configurability. " Really pleased to hear that sort of assessment.

I'm also very proud of the work our team continues to do to ensure Pega's creating and maintaining a diverse and equitable culture. Most recently, we were recognized as the best place to work for disability inclusion, scoring the highest possible score of 100 on the disability of Quality Index, which is recognized as one of the most robust disability inclusion assessment to tools.

Very proud of this recognition, Row Pega supports its people and communities by providing a safe and inclusive work environment. Congratulations to the many in Pega and around the world responsible for this recognition.

Now you may have noticed that we put out a second press release and I'll just talk for a moment about it. When you've noted interest in our technology over the years. From organizations interested in leveraging our workflow capabilities to launch their own workflow-based applications into the market.

And to address this need, we today we announced a new product called Pega [indiscernible], a cloud-based, low-code application development platform that won't power anyone to efficiently build and launch B2B software as a software-as-a-service application for commercialization. This is a long-term strategy that will be run as a separate commercialization unit giving Pega new routes to market through an expanded third-party ecosystem and without requiring the involvement of our sales force.

We'll be working with a select group of early adopters for the remainder of 2022 as we prepare to roll out more generally in 2023. Once application providers are ready to bring new products to market, we'll work together through a revenue-sharing model that we expect.

Now, I'm going to circle back to Pega Wolf for a moment. I hope you're able to join Pega Wolf in May. If you missed it live, I encourage you to watch the replay on And there are terrific sessions available, especially the inspiring client stories hold in their own words.

Through our virtual PegaWorld amounts, we have been successful over the last several years. And nonetheless, I'm very excited to bring our live event in Las Vegas back in play next year as we get back to a more normal cadence of in-person meetings with clients and prospects. There's been a lot of change on that front.

I attended Davos this past May in-person was able to see many of our most senior client contacts in person. And I mentioned a new briefing center being built on our last call. It's now -- some of you saw that on Investor Day, it's now fully open and has been booked with client and prospect meetings and has gotten a great reception and we're excited about the customers coming to visit us.

So, in summary, we're operating in an environment of significant volatility. One that our software is uniquely suited to address but one that obviously -- that's lots of pressure on. We continue to structure our business and evolve our software to both address the needs of our clients to maximize our ability to respond quickly to changes in the market.

Our transition to a subscription business and our loyal and stable client base are meaningful contributors to our ability to remain successful in today's business climate. And we continue to be very excited about the significant opportunity in front of us. and confident in our team to deliver on that opportunity.

To provide more color on the financial results, let me turn it over to Ken Stillwell.

Kenneth Stillwell

Thanks, Alan. To begin a few reflections on our first half results and our outlook for the rest of the year. Pega Cloud mix and the strengthening of the U.S. dollar are negatively impacted our reported revenue and earnings per share. As a result, I'll speak a little more about currency this call than usual.

As the U.S. dollar gets stronger, our recurring annual contract value, ACV and our back balance denominated in other currencies, decreases in value and translated into U.S. dollars and revenue from other countries become smaller as well.

A very big highlight for the quarter is Pega Cloud. Pega Cloud continues to be extremely popular. As a result, the Pega Cloud mix was much higher than planned, impacting our reported revenue and our earnings per share. Pega Cloud mix in the first half of 2022 was the highest it's ever been.

For the first half of the year, Pega Cloud was 70% of new client commitments. We're focusing on operating leverage with an even greater amount of discipline to ensure our rule of 40 target is achieved in 2024. As you review our financial results, you'll see that we've clearly been making progress on operating leverage primarily by slowing overall headcount growth in 2022.

Although our constant currency ACV growth was 19% in Q2, we expect economic headwinds and crosswinds to negatively impact ACV growth for the full year. During our subscription transition, the most important metric to measure our success continues to be growth in ACV. ACV grew 19% in constant currency and 14% as reported year-over-year to $1.028 billion.

The strength of the U.S. dollar significantly impacted year-over-year ACV growth as reported from Q2 2021 to Q2 2022. The currency impact of that year-over-year strengthening of the dollar on our ACV was approximately $40 million, with the majority of that impact hitting in Q2 of 2022.

In fact, as dollar strengthened so much that our recurring ACV balance decreased from Q1 2022 to 2000 -- Q2 2022 on an as-reported basis solely due to the strengthening U.S. dollar. It's important when measuring our business to look at a longer time horizon than one quarter.

We've said we focus on total ACV growth for a full year and we're really in the 2022 cycle. That said, to date, our team has demonstrated over our history that it can produce ACV growth during difficult and uncertain times. It's important to point out that we do see economic uncertainty which could reduce incremental ACV growth in 2022, and we're managing the business accordingly.

More on that later. Moving to backlog. We ended the quarter with $1.126 billion of backlog. The strength of the U.S. dollar was approximately a $57 million impact on our total backlog balance when looking at year-over-year growth.

Turning to revenue. Revenue for the first half of 2022 reached $651 million. Total subscription revenue reached $521 million. Subscription revenue is about 80% of our total revenue for the first half of 2022. Pega Cloud revenue is our fastest grower and reached just under $184 million for the first half of 2022.

Total revenue growth in the first half of '22 does face a tough compare, as many of you are aware. You may recall that we recognized over $30 million of revenue from one large deal in the first half of 2021. And the Pega Cloud mix was 15 percentage points lower. Therefore, year-over-year revenue comparisons are not as meaningful for the first half of 2022 because of those two items.

We are currently in the final phase of our subscription transition, which we expect to complete in 2023 with the financial results normalizing for the full year 2024. Our Q2 results, like our Q1 results showed additional signs of improving operating leverage and management of cost.

Total gross margin was 72% for the first half of 2022. As I mentioned a few minutes ago, we plan to focus on cost management, ensuring that we reach the Rule 40 target in 2024. Like all enterprise software companies, we're navigating through a high inflation environment, a global pandemic or in Europe and growing concerns of a global recession.

In the face of these challenges, we've continued to grow ACV at a respectable pace to date. However, given the significant and unpredictable macroeconomic factors that I just outlined, we're going to provide a little more clarity on our view for the second half of 2022.

We believe ACV growth for the full year will slow to around 16% in constant currency, about 5% less than we had planned for the full year. We want to make it clear this adjustment is to our 2022 outlook only.

Moving to our revenue outlook. We see 3 three key factors negatively impacting our revenue growth for the full year 2022. First, as we described in our investor session in June, our plan assumed Pega Cloud would represent a little more than half of our new client commitments in 2022. However, Pega Cloud has represented 70% of new client commitments in the first half of 2022.

I know many of you will view this mix shift positively but as we've said, a 20% or so increase in Pega Cloud could lower 2022 revenue by $80 million. And a higher-than-expected Pega Cloud mix would also cause ACV growth and revenue growth to diverge in 2022. That's because Pega Cloud revenue is recognized ratably typically over the contract period, which approximates 3 years.

Second, the strength of the U.S. dollar is expected to negatively impact our full year revenue results. And third, we anticipate that the increasing economic uncertainty may license sales cycles and pushed some deals into 2023.

If ACV growth slows as a result of this dynamic to the 16%, as I mentioned, in constant currency in 2022, that would have an impact on total revenue as well. In total, we believe these three factors taken together could negatively impact full year revenue by approximately $120 million to $130 million.

We do not expect a proportionate impact on earnings per share due to the cost-saving initiatives that I spoke about, where we expect to mitigate the revenue impact of -- by over $100 million of that revenue shortfall by achieving significant cost savings.

Naturally, there are a lot of moving parts in what I just said, which make it hard to forecast precisely. So, what are we doing to respond through all this? We will manage the business in a way to address the potential ACV growth slowdown and make up for more than half of the impact of our Pega Cloud mix shift.

And that's -- I think that's a pretty impressive statement that we're making that we actually are going to end up being more efficient with the business based on the revenue and the ACV that we will achieve.

Let me explain what I mean. We don't need to grow the size of the organization at the pace that we have in the last few years. We've added some pretty significant go-to-market capacity in 2020, 2021 and 2022.

And we're going to focus the rest of 2022 on execution. We think this is the right time for us to reap the benefits of the significant investments we've made in hiring over the last few years. To remind everyone, we're targeting the rule 40 in 2024, and we will attempt to achieve the highest growth rate possible in getting the rule 40.

Our business is resilient, and I remain confident in our ability to deliver on our long-term strategy to be the leader in digital transformation. Let me remind you of some of the reasons that I feel that way. First, about 80% of our revenue is now subscription, thanks to our successful execution of the ongoing and near completion of the subscription transition.

Our recurring revenue is supported by very high net retention rates. Second, if you look back to 2000, Pega has grown through every recession before, including some tough ones. And we've seen what clients stick with and what they invest in. Third, we serve the world's largest clients in core verticals such as financial services, insurance, health care, telecommunications and government.

In challenging economic times, unfortunately, small and medium-sized businesses are often the ones that struggle the most in the near term when compared to larger enterprises that have strong financial profiles to withstand short-term shocks. Last, our digital transformation solutions feature unique capabilities and provide benefits that are critical to our clients going through transformation.

Our core value proposition has proven important to our clients and it helps Pega to grow through uncertain economic times. In summary, we've built a resilient business, and we will continue to provide best-in-class solutions to the world's largest clients even during tougher times.

Despite the uncertain global economic outlook, it's an exciting time in Pega's history. We're wrapping up our subscription transition that we started in late 2017 and we're entering our next phase of growth as a company.

As we wrap up the transition in the next year or so, we're confident that we will exit the transition as a much stronger business with more predictable revenue and back to cash flow levels that are even in excess of what we achieved before the transition. And as a rule of 40 company, we'll be capable of generating free cash flow each and every year because of the dependency and the reliability of the relationships that we have with our clients.

Winning companies invest time and resources into reimagining their business model to unlock higher growth and greater profitability. The best companies successfully execute to make that imagination reality.

Now I'm really proud of the work our team and our over 6,000 employees have done over the last 5 years to transform Pega's business and unlock the company's potential. Thank you to everyone at Pega. As always, I'll be on the road and excited to see everyone face-to-face at a number of conferences over the next 45 days or so. I hope to get a chance to see many of you during the upcoming events.

And one additional point, very excited to reiterate what Alan said, which is I can't wait to see everyone at PegaWorld live next year. It's been too long. And with that, operator, please open the call for questions.

Question-and-Answer Session


[Operator Instructions] We'll now take our first question from Rishi Jaluria from RBC. Your line is open. Please go ahead.

Rishi Jaluria

Well, wonderful. I'm here again, thanks very much for taking my question. Maybe a few here to clarify and then you know, appreciate all the details, especially around and what you're seeing. Maybe I want to start by talking about macro and a two-parter here. Number one, we would love to know what are you assuming Ken, when you're talking about getting to 16% ACV growth exiting the year you know, are you assuming macro stable with what you're seeing right now? Or are you assuming some level of deterioration further from what things you're seeing?

And then maybe the second part of that, there's obviously a macro impact numbers already of constant currency from Q1 to Q2 on the ACV side. Some of your large cap peers that have already kind of reported and talked about –

Alan Trefler

Could you repeat your last like 10 seconds because you --

Kenneth Stillwell

Because you broke up a little bit, Rishi.

Rishi Jaluria

I apologize. Let me get off that. Okay. So yes, I was just -- maybe just starting with the macro side, right? What do you see -- what are you assuming in terms of further macro deterioration or is it going to be stable? And the second part, given the detail we've seen on the ACV side in constant currency as a result of macro that you've seen so far. Can you maybe be a little bit more specific about how it's manifested itself be that in longer sales cycles, smaller ACV lands, pushed out deals, anything like that? And then I've got a follow-up.

Kenneth Stillwell

Sure. I'll take the first part of that, and then Alan, you can add some color to that. So, we are not assuming that the market will stay exactly as we've seen in the first half. We are assuming that sales cycles will elongate from where they are, that the buying cycles will be tighter.

We are assuming that as you get closer to the end of the year that companies will be responding to cost management initiatives, some of which will help us because we can be a solution, some of which may put pressure on just general buying patterns.

So, I wouldn't suggest that we think everything is going to stay as it is now. We do see that there's some further decline and the economic landscape between now and the end of the year. We're also not seeing this as an elongated process, but we don't know what to expect through the end of the year as people start budgeting for next year.

So that's why we thought about providing a little bit more clarity around what we think is a risk, which is our ACV growth for the full year. ACV growth dropping from one last point that ACV growth declining from 21% to 16%. Just to kind of provide you directionally what that means. It kind of means that our AC -- our incremental ACV growth year-over-year in dollars would be somewhat flat year-over-year, meaning the growth in incremental ACV dollars would be relatively consistent with what we grew in 2021. Still growth, but as you can imagine, growth on a bigger number is a slightly smaller percentage. So that's kind of how we see it manifesting itself through the year.

Alan thoughts on some of the discussions that you mentioned about customer buying.

Alan Trefler

Yes. So, I think Ken's right, there is some elongation of sales cycle. But also, I think a lot of this -- the impact, I believe, is and will continue to be significantly related to the companies you're dealing with and the types of companies you're dealing with.

The large sophisticated traditional buyers that for many years, were our only buyers and let us grow at a 20% ACV growth rate. I think that those are much less susceptible to the many pressures and a willingness to go forward than companies you think of as midsized or certainly smaller.

And so, we have an opportunity and we are recalibrating our energies to really focus on those deep and really important relationships with organizations who based on everything I've seen are going to be looking to themselves save money, Boost their workflows, continue to invest.

And I think that focus makes it easier for us to operate within some of the spend envelopes that Ken is talking about, which we're taking very, very seriously then frankly, when we were trying to really jump up our growth rate to some degree, regardless of cost.

We're not in that business with the second half of this year and going forward because frankly, I think the market will respond exactly what we're doing. We have a big chance to influence what happens. We're not just subject to what's going on in the back growth market.

Rishi Jaluria

All right. Great. That's really helpful. And then on the business. Maybe, I wanted to drill specifically into cloud CRPO. So, we saw that decelerate from 31% growth in Q1 to 14% into and even if we add back in six points of FX, that still gets us from a decel of 31% to 20%. Maybe can you walk us through what's going typically on cloud CRPO and maybe why we shouldn't be thinking about that too much as a leading indicator of future cloud growth slowing down? And then one more follow-up, and I promise that's it.

Kenneth Stillwell

Sure. So, the one thing that we are seeing and we've seen it probably for a couple of quarters, but I think it's -- we're starting to realize that clients really are transitioning into more leaning more towards consumption-based buying patterns, right, which means that they're looking at like kind of almost we like a minimum commit with variable usage as they drive additional usage.

And what that does lead to is it does lead to -- the net effect of that is a slight decline in the duration of our cloud RPO. Just a slight, not like going from say, three years to maybe 2.75. Some of the optics of RPO is driven by that. You can kind of see that if you look over the last few quarters.

Also, to add to that, we -- in 2022, the first half of the year was not a big renewal year, right, in terms of Pega Cloud contract renewals, it tends to be towards the back end of the year in general. Every once in a while, you'll have a quarter where you may have a few clients.

So, those two factors, I think, make the optics look a little bit confusing to your question. Some of it is just buying patterns. People clients are not committing necessarily a three or five year contracts all the time they might be committing to a three year contract with a with a slightly lower minimum and then having consumption buying patterns above that. And that results in less going into RPO in some of those contracts, if you follow me.

Rishi Jaluria

Got it. Helpful. And then last one, just on cloud gross margins. obviously been on a nice upward trajectory for the past really two years. But this is the first time we've seen a decline like this sequential in a meaningful way into Q2, right, going from 70% to a little bit up 7%. I guess, was that FX? Or were there other factors that led to cloud gross margin declining sequentially? And how should we think about that going forward? Thank you.

Kenneth Stillwell

Yes, that's a great question. That's because the majority of our costs for Pega Cloud are in the U.S. in U.S. dollars. And so there is -- so you do have currency -- more currency impact on the top line than you do on the bottom line. In a lot of the other aspects of our business, we have natural hedges because we have the cost in the currency where the dollars are. We are more -- we are -- our costs are more skewed to the U.S. because our AWS contract is in U.S. dollars.


We'll take our next question from Steve Koenig from SMBC Nikko. Your line is open. Please go ahead.

Steve Koenig

Thanks for taking my questions. I'll stick to one question and one follow-up here. I wanted to -- by the way, congratulate you on the Forrester evaluation. It sounds like a great validation of the technology leadership. So first question is on the financial side. A couple of moving parts here. And maybe it relates to your prior answer. But on Pega Cloud revenue, the sequential revenue growth in cloud was very light. And so I'm wondering if you can square that with the higher cloud mix. And then maybe also related to that, more broadly, RPO bookings were down pretty hard year-on-year. And I'm wondering like how much of that was a surprise in terms of weakness in new client commitments relative to your internal expectations? And how much of that was a lighter renewal schedule if you could just parse that out? And then just one follow-up for Alan. Thanks.

Kenneth Stillwell

Yes, Q2 was a very light renewal schedule and Pega Cloud -- the mix of Pega Cloud was impacted by currency by approximately the same as our overall revenue. So the mix of revenue by geography isn't exact, but directionally close to our overall revenue in terms of the currency impact. The RPO -- currency impact for a lower renewal quarter in Q2 in the first half, but also our net ACV growth in Q2 was not as strong as well. So the combination of our ACV growth in Q2 was not as strong as Q1, not a big renewal quarter plus currency. That's kind of what's happening in RPO.

Steve Koenig

Okay. Sounds good. Maybe we'll follow up a little bit more on the call back. Alan, Pega launch pad. So that's really interesting. I know you've been you've been working on a lot of the stuff for some time as part of the Phoenix initiative. I'm wondering if you could provide us some color on -- what are kind of the milestones, both maybe technically and business-wise on establishing a vibrant third-party marketplace. Any thoughts on monetization, does Pega pricing need to become more transparent? Are there any early alpha customers or partners you can talk about? Thanks very much and that concludes my questions.

Alan Trefler

Sure. So, we have been working on a lot of these pieces for some time as part of the Phoenix initiative, which obviously feeds a lot of the technology that we bring forward and bring to market here. The launch pad concept is that we know that there are organizations that themselves want to develop IP, bring it to market that have sort of a workflow flavor to them. And to be candid, the platforms that we saw out there were not remotely well suited to being able to do that we thought. And we've talked to a number of people and companies about that.

We wanted to begin having discussions on this. And thought the best way to do that was to just publicly say, yes, we got this. We're going to begin talking with early adopters, but I'll be able to answer those questions with much greater clarity and specificity after we're another 90 or 120 days into this. So I'm going to put -- take up a little pass on that, but it's not the lack of enthusiasm. I think this is a very exciting place to be.


We will now take the next question from Pinjalim Bora from JPMorgan.

Unidentified Analyst

This is Noah on for Pinjalim. Thank you for taking the question. Can you explain what you're seeing in terms of demand from public sector customers? And just any color on the rate of new IT engagements within public sector would be helpful. Thanks.

Alan Trefler

Yes, I can talk to that. I think that public sector has been pretty shaken by the pandemic. And a lot of the solutions that have gone into public sector to just make them work, particularly at some of the large organizations, governmental organizations we do business with. We are widely seeing to be scotch tape and bailing wire. So there is a, I think, a healthy appetite in large agencies to continue and even accelerate the workflow automation that we already do for a number of them going forward.

So I think the demand in public sector will continue to be strong. Having said that, as we all know, public sector is not a place that tends to buy rapidly, and they tend to want to buy very much on a consumption cell basis.

So you don't get the big multiyear deals with lots of things sort of on the come based on expectations. It really is a line of business that I described it as sort of building an engine of success that as you go when you -- as you develop greater confidence and a greater footprint, it builds on itself.

But the market opportunity there is huge, we are very much going to focus on what I would describe as federal and large states here. I think that plays to our strength and that also plays to the people will be buying.


We will now take the next question from Vinod Srinivasaraghavan from Barclays. Your line is open. Please go ahead.

Vinod Srinivasaraghavan

Thanks for taking my questions. I just want to -- maybe look to the past a little bit, talk about buying patterns going into the COVID period and the second quarter 2020. I just want to get a sense of are things kind of similar than right now or back then? And kind of at what point did you see sales cycles Boost and customers reengage more meaningfully then? And are you seeing any early signals of that where maybe a similar pattern might play out? Thanks.

Kenneth Stillwell

So I can start on that one. So because unfortunately remember those days well. I think the difference between Q2 2020 and Q2 2022 is noticeable because of the following. When we were in Q2 of 2020, we didn't know what future look like. I think there was a question about was this going to be like the shutdown of world economies. We're going to -- people couldn't get food and paper towel with tiller. I mean, it was we were scrambling. We didn't know how long it was going to be. And it was -- I think there was a lot of angst about just what was this thing we were dealing with.

So I think the level of uncertainty and confusion and stress was high. I remember looking at the unemployment drop of -- or increased, excuse me, I don't know, whatever it was, like x million people that went into that filed claims in one week. In today's environment, what I see is people more going through a typical economic reset, right? They're saying we know what's coming. We've got to manage our budgets. We need to slow hiring. We need to think about projects that will help us optimize our business. This happens every whatever, five to 10 years, whatever the recession cycle happens to be I don't view it as being comparative to Q2 because of the level of just general mass confusion in the market that happened for a few months in the middle of 2020. That's my perspective. I think this is much more -- I do feel like people know what's coming. They may not know how bad it's going to be or how long it's going to last, but we've been through recessions before. So I kind of -- that's my perspective. Alan?

Alan Trefler

Yes, I would agree that the atmosphere back then was much more of confusion, who knows what's going to be, how long it's going to be for, we'll be able to get the right staff to support the business at all. There were a little burst of, Oh, my God, we've got to automate something, but there was an incentive to it that people said, I've got to do it in 10 days. or a week.

And by the way, we've delivered some pretty amazing systems in that time to support things like the paycheck, the Paycheck Protection Act. I was just talking to one of our very large banking customers who said that they'll never forget what they were able to do in a week with our system when they were just trying to hold on there. The time now is just a lot more rational, right? People expect dimensions are going to fall into just how long is it going to be tight. People are extremely interested in the low-code piece is Eric very valuable because people are extremely interested in being able to continue to run their systems without necessarily the same, frankly, depth of engineering talent that some of those end companies have been able to depend on or in some cases, not even, depending on what's happening with the cost.

So I would describe this as a much more, frankly, reassuring time than if you go back to the point where every week was a new terror.

Vinod Srinivasaraghavan

Got it. I appreciate some of the color on that. And then just one follow-up for me. Can you maybe speak to just kind of the sales execution during the quarter, how you kind of feel about that? And also, are you seeing any customers ask for like more pricing concessions or more flexible payment terms given kind of the macro environment? Thank you.

Alan Trefler

So I'll answer the second one first. Our bread and butter customers are the ones that we're particularly focused on going forward are not the ones who need payment concessions, candidly. Now people always like to ask for things, but they're just not. That's not the part of the market that we are going to focus on go through.

From a sales execution point of view, as I think a lot of you know, we've undergone a lot of change from a go-to-market management perspective. And a lot of that change happened during Q2. We're right in the middle of it all. And I'm sure that didn't help us getting things together. I believe we're now largely through the -- what I describe as Phase 1 of change management, which is understanding what we want to do from a structure and a positioning point of view, et cetera, we still have a lot of work to do. as we go through the next couple of quarters.

But the reset, I would say, of our business to being a cost-effective grower, really worrying about cost, et cetera, that is, I think, taken whole of the psyche of the organization as a whole and in the go-to-market organization. And now I believe we have a plan that we can execute on a strategy that makes enormous sense having done this for a long time. And we know that there is the demand there in our customers. There's no doubt that customers appreciate, particularly the ones we're talking about, the way our software can really uniquely help them deal with their own pressures and their own confusion.

So I'm feeling good about that. Obviously, the first half of this year was pretty volatile. I mean we know that there were some management changes that were quite significant that happened -- all of that happened in the last five months. So unquestionably, that would have some impact on Q2. And by the way, we're not happy with what the outcomes were. We're committed to changing it, and we're not happy that 16% is a good number going forward. It just might be the realistic one to think in terms of from where we are this year.

Kenneth Stillwell

I'll add one piece of color. Clients, I have not seen -- I see a lot of the client interactions, as you might imagine. I don't see clients deciding to try to get the same amount of value out of Pega for a lower amount. I do see clients trying to manage cost increases as a result of inflation. Right? Like naturally, CPI is a much higher number. And there's an expectation in the market that technology companies will receive some increase in the annual clients are more focusing on trying to manage that as we are trying to manage that as well because we expect to get increases to help offset our cost increases of our team members, et cetera. That, I think, is a focus area, but not general spend reduction. That's not something we've seen.


We will now take the next questions from Kevin Kumar from Goldman Sachs. Your line is open. Please go ahead.

Kevin Kumar

Hi, thanks for taking my questions. Alan, given the macro environment, are there any changes in the types of use cases across the customer base whether that's customer engagement or customer service, other areas of automation, curious where you're seeing the most appetite.

Alan Trefler

Yes. So in the real-time interaction management space, which is -- think about as AI-powered decisioning. There is -- when the economy goes to the sort of change we've seen in the last 90 days, we shift our emphasis from cross-sell upsell to retention. And we have and we do a lot of very, I think, effective work in the areas of retention. Certain use cases, sometimes referred to as compassionate, hopefully, collections, which is where you try to figure out how to be the smartest about if you're a business getting paid. Those are examples of use cases that accompany the sort of recessionary push that, once again, we've seen before, we see the same thing happening now. Those discussions get a lot of a lot of attention as well.

On the workflow space, automation and transparency, being able to handle a workforce that's distributed and not likely to ever come together again, but you want to be able to manage them. those once again are the apps what we sometimes refer to, and you'll hear us talking more and more about what we call the process fabric as a way to leave an organization together. Those are the types of use cases that go with these times.

And the other thing I'll say about all of those is those systems tend to be pretty big systems, not all at once necessarily, but over time, those become very, very meaningful.

Kevin Kumar

That's helpful. Thank you. And then as you integrate the Everflow acquisition, how has customer traction been there? And how should we think about ACV uplift on deals where process mining is used?

Alan Trefler

I think process mining is primarily a vehicle to be able to make the customer more effective at deploying your software. I think that more than a very significant increase in ACV on the deal, I think you will see an acceleration of consumption and use. And that leads to, in effect, larger parts of the business being in a position to cost justify and rationalize the purchase. So I view it as contributing to ACV, more by helping promote volume than by kicking the prices up 20%, right? It's discovering the opportunity and optimizing the opportunity, which lets you go bigger, particularly these big companies.

Kenneth Stillwell

And just to clarify, just to make sure that's crystal clear, we are not in the business of selling user-based licenses as our exclusive go-to-market where you keep price up ticking every single feature function. What Alan is talking about is clients put get more value by putting more automated transactions through our system, and that's the way the ACV goes up because they're paying on kind of a consumption type model. That's kind of the connection there just to make sure that's clear.

Alan Trefler

Yes. Per user pricing, we think, in this world is sort of an anachronism because everybody wants to move from one form or another of nonuser activity right, whether it's customers doing work themselves, whether it's parts of the system landscape actually doing fully autonomous work, that's a hyper automation.

So our standard approaches tend to talk about how many units of work get done by the customer. And that's where process mining can accelerate as opposed to like a more user model. So I know some other people do that. I don't think that's a very forward-looking model for companies that do automation.


We will now take the next question from Joseph Meares from Truist. Your line is open. Please go ahead.

Joseph Meares

Thanks for taking my question. The first question, I was if you had already said this in the prepared remarks, but could you just provide us some clarity on the cost initiatives that you're talking about? I think you said it would be more than half of the decline caused by the Pega Cloud. But could you just clarify that?

Kenneth Stillwell

Yes, sure. So I know, Mike, the wording is tough sometimes to get through clearly. So we're -- we anticipate that the combination of the three factors, Pega Cloud mix currency, which is the smallest of the three. And the impact of our ACV target will reduce revenue from where we kind of initially thought it would be by about $120 million to $130 million.

We might say, Oh, well, that means there's an impact to EPS by that same amount? No. To the contrary, we're actually maintaining, we believe we have the staff that we need to get through 2022 and quite frankly, to hit our 2023 objectives well. And that efficiency that we would get by maintaining our cost structure consistent with where we are now, will get us over $100 million of that $120 million to $130 million revenue decline.

So we won't get all the way there. We might, but we're signaling that we think we can get all the way there, but we will get almost all the way there. When I was saying, Joe, as I was saying, we'll make up the ACV, drop or make up the currency and we'll get more than half of the way there on the cloud mix. And that's the -- all of those three add up to over the $100 million of mitigation.

Joseph Meares

That's perfect. Super helpful, Ken. I appreciate it. And then just as a follow-up. Last quarter, you spoke about several new products, including enhancements to the Pega Customer Decision Hub and voice AI and messaging solutions for customer service. Just curious if you have any early customer feedback on those? Any positive stuff you can point to there? Thanks so much for taking the questions.

Alan Trefler

Yes. So we continue to get excellent feedback on the Customer Decision Hub, that's the real-time interaction management piece that I was talking about that Forrester just landed. And that continues, I would say, to be by far the industry-leading product in that segment. And the new capabilities are used in being I think being widely enjoyed.

The voice AI is rolling out slowly. We've got some pilot work that we've been doing. I think it's enormously exciting. But to be candid, I think that a lot of organizations are just trying to stabilize that part of their business. And they're -- if things get a little more normal, I think that's going to pick up. But right now, there's just an enormous amount of what I described as contact center exhaustion, where people have just -- who are running those things are just trying to deal with making sure they've got the staff and that they're able to just keep them running. So it's probably going a little slower than I'd like, but that was never going to be a big part of a number of ours for this year.


We will now do the next question from Mark Schappel from Loop Capital. Your line is open. Please go ahead.

Mark Schappel

Hi, thanks for taking my question. Ken, starting with you, with respect to the macro, just to be clear here, are you saying you're seeing lengthening sales cycles and project delays in your business today? Or are you just trying to get ahead of the curve with your comments?

Kenneth Stillwell

question. I would say I am a little bit of lengthening sales cycles, but nothing I would say material to lead me to a an absolute conclusion. I am more trying to get ahead of where I think the market will be for the rest of the year.

Mark Schappel

Okay, great. And then, you know, with respect to the sales cycles, are you seeing that in any particular geography more so than others?

Kenneth Stillwell

Europe, I can get out and speak to but certainly Europe is much closer to the frontlines of the conflict. And in Ukraine, Russia, Ukraine, and that they are seeing things like energy or resources, food, they are much more disrupted than certainly the United States is and even a bit even APJ. So I personally I think Europe is in a tough place right now.

Alan Trefler

I just going to say customer mood and some of those countries just hard to get their attention.

Mark Schappel

I understand. And then Alan final question here. It's around the launch pad. I believe in your prepared remarks, you mentioned that the product would be run as a separate commercialization effort. I was wondering if you just go into a little bit more details of what exactly that means?

Alan Trefler

Well, it means that we were able to take a couple of very entrepreneurial people who we already had on staff. And we're going to create a largely virtual team, but we're not going to commingle that at all, with the kind of go-to-market and the current messaging, you know, we see that as a separate product, using experience, obviously, that we've had for many, many years to inform it, that will go to market through a separate channel as a partner sold channel -- sold by actual organizations that have the IP that they want to sell.

So I'm really, really looking to insulate the core business from any sort of disruption. So we can really focus on doing as well as we collectively can do this here on.


We will take the next question from Joey Marincek from JMP Securities. Your line is open. Please go ahead.

Joey Marincek

Thanks so much for the question. Alan, would love to hear more about Google Cloud? I know it's early. But how is that partnership progressing thus far? And maybe what are your early learning? And then one for Ken? Can you provide us an update on net retention. How is that metric trended? And maybe how would you think about it on a go forward basis? Thank you so much.

Alan Trefler

Sure. So the Google relationship, I would say is terrific. You know, we work with them. And we've been able to work with them to stand up this capability, I think, and just being able to offer customers the ability to use Amazon credits or Google credits, up that they may have committed to also I think, at certain customers, get customers excited.

So that relationship is deep and very, very positive. And, you know, I'm also pleased to say that Google is a client, which is wonderful when a company like that decides that they want to use your stuff and internally, so now, I believe it's going to work out very, very well.

You know, Amazon has been a terrific partner, and we love working with them also. But the reality is, as they move into, say, the medical field as they recently have done in a greater quantity, and as they move into, or they obviously deep in retail, that means that certain of the very large clients that we want to sell to have, well, less attraction to using them as a platform, it doesn't actually impact visible to a customer, whether they're running the Pega Cloud on Amazon, or on Google, but some companies have their own standards and their objectives in that regard. And now we're just in a position to provide that extra dimension of client choice, which is always good. Ken want to talk about --

Kenneth Stillwell

So our net retention so, that's a really good finish to the questions, because it's one that we haven't really touched on. Directionally, I've always talked about, if we have 20% ACV growth that 15% of that 20% would be with existing clients and the other 5% would be net new logos, that is a directional number. But that is not far off.

When you think about us, our ACV growth declining by some percentage, the majority of that decline would be our expectation of getting ACV from net new logos, right? Because so I think our net retention number is not going to decline much of our overall ACV declines, because that is our bread and butter. That is actually where we're going to put our capacity. That's where we've always got the majority of our bookings. And so our focus is going to be really heavy there, especially in any type of less than certain economic environment, you should always stay close to your clients, because they're going to deepen their relationship with existing vendors, that is just the trend.

So I think our net retention rate will hold pretty steady to what it's historically been maybe like dropped by a percent or so. But not much. And what will happen is we will probably, you know, just being pragmatic, we will chase new logos less.

Alan Trefler

And with that, I think we're at time, I'd like to thank all the folks who participated or listened to the call. You should know that we're working very hard. We're taking the needs of our shareholders very seriously. And I'm hopeful that we'll be able to report some good things in a quarter. Thank you very much.


This concludes today's call. Thank you for your participation. You may now disconnect.

Wed, 27 Jul 2022 16:45:00 -0500 en text/html
Killexams : Tech Mahindra Q1’23 Revenues up 24.6% YoY

(MENAFN) Tech Mahindra Q1’23 Revenues up 24.6% YoY

Mumbai – July 25th, 2022: Tech Mahindra Ltd., a specialist in digital transformation, consulting and business re-engineering services today announced the audited consolidated financial results for its quarter ended June 30th, 2022.

Financial highlights for the quarter (USD)
• Revenue at USD 1,632 mn; up 1.5% QoQ and up 18.0% YoY
o Revenue growth 3.5% QoQ in constant currency terms
• EBITDA at USD 239 mn; down 13.5% QoQ, down 6.2% YoY
o EBITDA margin at 14.8%
• Profit after tax (PAT) at USD 143 mn; down 28.0% QoQ and down 22.0% YoY
• Free cash flow at $71.6 mn, conversion to PAT at 50.2%
Financial highlights for the quarter (₹)
• Revenue at ₹ 12,708 crores; up 4.9% QoQ and up 24.6% YoY
• EBITDA at ₹ 1,880 crores; down 10.0% QoQ, up 0.2% YoY
• Consolidated PAT at ₹ 1,132crores; down 24.8% QoQ and down 16.4% YoY
Other Highlights
• Total headcount at 158,035 up 6,862 QoQ
• Cash and Cash Equivalent at USD 1,114 mn as of June 30, 2022

CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, said,

"We are starting this fiscal with a renewed commitment towards delivering consistent organic growth. We remain resilient and watchful given the dynamic global macro-economic environment and will continue to invest in new and emerging technologies to deliver differentiated offerings. Our winning strategy rests on the pillars – ‘Purpose, People and Performance’ which is aiding us to responsibly capitalize on the strong demand environment in the market."

Rohit Anand, Chief Financial Officer, Tech Mahindra, said,

“Delivery transformation, cost optimization and cash conversion will be key focus areas, as we continue to offset the strong supply side headwinds in the market. We aim to expand our profitability through operational excellence and improved operating metrics over the course of FY’23..”


Tech Mahindra was chosen by one of the largest telecom operators in Africa, as the preferred partner for transitioning to Next Generation Digital IT Operations including Infrastructure Support and managed services.

• Tech Mahindra was chosen by a large municipal organization in the Middle East to implement digital services transformation leveraging their next-generation AI-Ops frameworks & tools to enhance customer experience and establish an agile customer service delivery.

• Tech Mahindra has been chosen by a telecom giant in the US to jointly scale its operations through the co-creation of a captive center for BSS & OSS operations enabling the Telecom IT talent build-out for 5G and wireless technologies.

• Tech Mahindra was chosen by a leading security services company in Northern Europe to transform and manage its cross-functional arms through infrastructure, cloud, and application modernization including End User services.

• Tech Mahindra has won a deal with a leading Insurance Carrier in the US for Cloud transformation, and end to end infra managed services including data center management and network services.

• Tech Mahindra was chosen by a leading Asian telecommunication group to implement an end-to-end system integration and drive SDWAN deployments in the South-East Asian markets
• Tech Mahindra was selected by a leading financial institution in Europe to digitally transform its end- to-end BPO + Digital Transformation services across different product divisions and establish a more customer-centric service delivery model.
• Tech Mahindra was chosen for a multi-year deal strategic by a global telecom giant for its platform modernization, which handles emergency and daily public safety communications enabling better operating performance and experience for its end customers.
• Tech Mahindra was awarded a multi-year deal for digital transformation and contact center management deal by a leading telecommunications operator based in Africa.


• Makers LabTM, R&D arm of Tech Mahindra, launched first-of-its-kind, ‘Meta Village’, a digital twin of Pargaon in Maharashtra to gamify learning on the Roblox platform. Using Roblox, students can learn coding in Bharat MarkUp Language (BHAML), a platform built by Makers Lab to help code in native language.
• Tech Mahindra has collaborated with Microsoft to build SenTindra, a cloud-based virtual security operations center developed on Microsoft Sentinel. SenTindra offers a single monitoring pane with all security components integrated covering the entire lifecycle of the migration and transformation requirements for a seamless and integrated security experience for customers.
• Tech Mahindra announced a collaboration with Keysight Technologies to certify 5G equipment in its 5G O-RAN test lab facility in New Jersey. This will enable the lab to perform end-to-end validation of designs developed by OEMs in compliance with ORAN alliance specifications.
• Tech Mahindra launched AmplifAI- a suite of AI offerings containing its platforms GAiA, an AI & ML Ops platform; Sayint, an advanced speech analytics solution and MobiLytix, an AI-powered marketing studio to democratize & scale the deployment of AI in a responsible manner.

• Tech Mahindra has expanded its collaboration with Pegasystems driving innovative industry solutions that will help accelerate the digital transformation of customers. Through the exact synergistic acquisitions and investments, Tech Mahindra’s Pega Practice has capitalized on its innovative business solutions to address evolving customer requirements.

• Tech Mahindra inaugurated a 5G Innovation centre in Bellevue, WA to help customers co- create and co-innovate 5G-powered solutions. The Lab will build end-to-end vertical solutions for enterprises by combining an ecosystem of partners in both telecom and cloud space.

• Tech Mahindra has announced a partnership with Amesto Aces AS, to provide trained & certified Salesforce resources and deep industry expertise to its customers across Europe, this partnership will also address the current shortage of skilled resources in the region.
• The International Chess Federation and All India Chess federation strengthen their partnership with Tech Mahindra, to provide a next-generation digital fan experience by leveraging Fan Nxt.Now. As part of this global tie-up, Tech Mahindra will come on board as a digital partner for the 44th edition of FIDE chess Olympiad which will take place in India for the 1st time.
• Tech Mahindra has collaborated with Anritsu, a global provider of test and measurement solutions, to launch an IoT experience lab. The experience lab will be an incubator, as well as a research and development center, for IoT device manufacturers to validate their designs in the early development phase and to help launch best-in-class IoT products.

• Tech Mahindra’s CEO & MD, Mr. CP Gurnani has been recognized as Outstanding Business Leader by
CEO Forum India at the 2nd Raymond CEO Forum Awards Night 2022
• Marksmen Daily in association with India Today recognized Tech Mahindra as one of the ‘Most Preferred Workplace 2022’.
• ET Edge awarded Tech Mahindra in The Economic Times Sustainability Congress Series – Sustainable Organizations 2022.
• Dun & Bradstreet India recognised Tech Mahindra as a top performer in the ESG Performance –
Software and BPM sector
• Ranked second with a sustainability score of 46, in the Capri Global Capital HURUN List Impact 50 for SDG Goals
• Ranked 2nd amongst the Top 35 companies in Businessworld India's Most Sustainable Companies 2022
in this year’s “The Sustainable World 2022 Summit” organized by Business World.
• Recognized by ET Edge for adopting valuable sustainable initiatives in The Economic Times Sustainability Congress Series – Sustainable Organizations 2022


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

Mon, 25 Jul 2022 01:42:00 -0500 Date text/html
Killexams : Robotic Process Automation Market Projected to Surpass US $ 7.64 Billion During the 2021-2028 Forecast Timeframe | Fortune Business Insights

Robotic Process Automation Market Size, Share & COVID-19 Impact Analysis, By Deployment (On-Premises, Cloud), By Operation (Rule-Based, Knowledge-Based), By Application (Administration and reporting, Customer Support, Data Migration & Capture Extraction, Analysis, Others), By Industry (Retail, Manufacturing and Logistics Industry, BFSI, Healthcare, IT and Telecom, Hospitality, Others) and Regional Forecasts, 2021-2028

Fortune Business Insightspublished the latest research report on the Robotic Process Automation Market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, theRobotic Process Automation Marketstudy demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.

  • The Global Robotic Process Automation Market was estimated to be valued at USD 1.29 Billion in 2020.
  • The growth rate of the Global Robotic Process Automation Market is 25 %, with an estimated value of USD 7.64 Billion by 2028.
  • The Global Robotic Process Automation Market is estimated to be worth USD 7.64 Billion by 2028.

Get sample PDF Brochure:

Report Details:

Market Size Value in 2020 USD 1.29 Billion
Growth Rate CAGR of25 % from2021-2028
Revenue forecast in 2028 USD 7.64 Billion

Driving Factor:

Increasing Adoption of Advanced Technologies to Fuel Market Growth

The increasing demand for automated technology by companies to handle their complex and unstructured information and automate their businesses end to end is expected to drive the robotic process automation market growth in upcoming years. Additionally, the combination of RPA technology with artificial intelligence as well as technologies is helping in extending the horizons of business processes. Using such advanced technologies helps automatically observe work activities, recognize optimal workflows, and suggest a self-regulatory path to businesses. For instance, in May 2020, AntWork announced the launch of ANTstein, an AI, RPA, and machine learning integrated platform. With this launch, the company aims to offer maximum bot utilization, insights into all types of data, data curation, and building.

This Report Answers the Following Questions:

  • What are the Robotic Process Automation Market growth drivers, hindrances, and dynamics?
  • Which Robotic Process Automation Market companies would lead the market by generating the largest revenue?
  • How will the companies surge the processes adoption amid the COVID-19 pandemic?
  • Which region and segment would dominate theRobotic Process Automation Market in the coming years?

Major companies in Robotic Process Automation Market Report are:

  • Automation Anywhere (California, U.S.)
  • Blue Prism PLC (Warrington, U.K.)
  • IPsoft Inc. (New York,U.S.)
  • Kofax, Inc. (California,U.S.)
  • Nice Systems Ltd. (Ra’anana, Israel)
  • NTT Advanced Technology Corporation (Kanagawa, Japan)
  • Pegasystems, Inc. (Massachusetts,U.S.)
  • Redwood Software (Houten, Netherlands)
  • Uipath SRL (New York,U.S.)
  • OnviSource, Inc. (Texas, U.S.)

Pre-Post COVID-19 Impact on Global Robotic Process Automation Market

COVID-19 is an infectious disease caused by the most recently discovered novel corona virus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks.

In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the Robotic Process Automation Market, since end-user industries were still not operating at their full capacity.

Secondary Research:

This research study made extensive use of secondary sources, directories, and databases such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource to identify and collect information useful for a technical, market-oriented, and commercial study of the global Robotic Process Automation Market. Other secondary sources included company annual reports, press releases, and investor presentations, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research:

Various sources from both the supply and demand sides were interviewed during the primary research process to obtain qualitative and quantitative information for this report. Primary sources included industry experts from the core and related industries, as well as preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations from all segments of the value chain of this industry. To obtain and verify critical qualitative and quantitative information, in-depth interviews were conducted with a variety of primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants.

Estimation of Market Size

The total size of the Robotic Process Automation Market was estimated and validated using both top-down and bottom-up approaches. These methods were also widely used to estimate the size of various market sub segments. The following research methodologies were used to estimate market size:

Extensive secondary research was used to identify the industry’s key players.

The revenues generated by the market’s leading players in molecular diagnostics have been determined through primary and secondary research.

All percentage shares, splits, and breakdowns were calculated using secondary sources and confirmed using primary sources.


  • What is the Robotic Process Automation Marketsize and growth rate of the global and regional market by various segments?
  • What is the Robotic Process Automation Market size and growth rate of the market for selective countries?
  • Which region or sub-segment is expected to drive the market in the forecast period?
  • What Factors are estimated to drive and restrain the Robotic Process Automation Market growth?
  • What are the key technological and market trends shaping the market?
  • What are the key opportunities in the market?
  • What are the key companies operating in the market?
  • Which company accounted for the highest Robotic Process Automation Market share?

Key Questions Answered in this Report

1) What were the pre and post-business impacts of COVID-19 on the Robotic Process Automation Market?

2) What is the market size, share?

3) Who are the top key players in the market?

4) What will be the future market of the Robotic Process Automation Market?

Key Offerings:

  • Robotic Process Automation Market Size and Forecast by Revenue | 2022−2029
  • Robotic Process Automation Market Dynamics Leading trends, growth drivers, restraints, and investment opportunities
  • Market Segmentation A detailed analysis by product, by types, end-user, applications, segments, and geography
  • Competitive Landscape Top key vendors and other prominent vendors

Table of Contents with Major Points:

1.Executive Summary

1.1. Market Snapshot

1.2. Global and Segmental Market Estimates and Forecasts, 2018-2029 (USD Billion)

1.2.1. Robotic Process Automation Market, by Region, 2018-2029 (USD Billion)

1.2.2. Robotic Process Automation Market, by Type, 2018-2029 (USD Billion)

1.2.3. Robotic Process Automation Market, by Application, 2018-2029 (USD Billion)

1.2.4. Robotic Process Automation Market, by Verticles, 2018-2029 (USD Billion)

1.3. Key Trends

1.4. Estimation Methodology

1.5. Research Assumption

2.Global Robotic Process Automation Market Definition and Scope

2.1. Objective of the Study

2.2. Market Definition and Scope

2.2.1. Scope of the Study

2.2.2. Industry Evolution

2.3. Years Considered for the Study

2.4. Currency Conversion Rates

3.Global Robotic Process Automation Market Dynamics

3.1. Robotic Process Automation Market Impact Analysis (2018-2029)

3.1.1. Market Drivers

3.1.2. Market Challenges

3.1.3. Market Opportunities

4.Global Robotic Process Automation Market Industry Analysis

4.1. Porter’s 5 Force Model

4.1.1. Bargaining Power of Suppliers

4.1.2. Bargaining Power of Buyers

4.1.3. Threat of New Entrants

4.1.4. Threat of Substitutes

4.1.5. Competitive Rivalry

4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2029)

4.2. PEST Analysis

4.2.1. Political

4.2.2. Economical

4.2.3. Social

4.2.4. Technological

4.3. Investment Adoption Model

4.4. Analyst Recommendation and Conclusion

5.Global Robotic Process Automation Market, by Type

5.1. Market Snapshot

5.2. Global Robotic Process Automation Market by Type, Performance Potential Analysis

5.3. Global Robotic Process Automation Market Estimates and Forecasts by Type 2018-2029 (USD Billion)

5.4. Robotic Process Automation Market, Sub Segment Analysis

6.Global Robotic Process Automation Market, by Application

6.1. Market Snapshot

6.2. Global Robotic Process Automation Market by Application, Performance Potential Analysis

6.3. Global Robotic Process Automation Market Estimates and Forecasts by Application 2018-2029 (USD Billion)

6.4. Robotic Process Automation Market, Sub Segment Analysis

6.4.1. Others

7.Global Robotic Process Automation Market, by Verticles

7.1. Market Snapshot

7.2. Global Robotic Process Automation Market by Verticles, Performance Potential Analysis

7.3. Global Robotic Process Automation Market Estimates and Forecasts by Verticles 2018-2029 (USD Billion)

7.4. Robotic Process Automation Market, Sub Segment Analysis

8.Global Robotic Process Automation Market, Regional Analysis

8.1. Robotic Process Automation Market, Regional Market Snapshot

8.2. North America Robotic Process Automation Market

8.3. Europe Robotic Process Automation Market Snapshot

8.4. Asia-Pacific Robotic Process Automation Market Snapshot

8.5. Latin America Robotic Process Automation Market Snapshot

8.6. Rest of The World Robotic Process Automation Market

9.Competitive Intelligence

9.1. Top Market Strategies

9.2. Company Profiles

9.2.1. Keyplayer1 Key InDurationation Overview Financial (Subject to Data Availability) Product Summary exact Developments

10. Research Process

10.1. Research Process

10.1.1. Data Mining

10.1.2. Analysis

10.1.3. Market Estimation

10.1.4. Validation

10.1.5. Publishing

10.2. Research Attributes

Ask For Customization:

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

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Phone:US:+1 424 253 0390,UK: +44 2071 939123,APAC: +91 744 740 1245

Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Robotic Process Automation Market Projected to Surpass US $ 7.64 Billion During the 2021-2028 Forecast Timeframe | Fortune Business Insights

Sun, 17 Jul 2022 20:31:00 -0500 TheExpressWire en-US text/html
Killexams : SD Times news digest: Azure Functions for Dapr, Codefresh’s $27 million round of funding, and Pega’s COVID-19 software hackathon winners

The new extension for Azure Functions lets a function seamlessly interact with Dapr for building cloud-native applications.  

Azure Functions provides an event-driven programming model and Dapr provides a set of essential cloud-native building blocks. 

“With this new extension, you can now bring both together for serverless and event-driven apps that can use the growing set of capabilities Dapr provides. Developers, teams, and organizations can use these tools to build functions that use a powerful set of capabilities with little code,” Microsoft wrote in a blog post.

Codefresh’s $27 million round of funding
Codefresh said it plans to use the funding to invest in open source and expand on continuous delivery to allow customers to complete DevOps automation from code to cloud. 

The company said it is also aiming to create enterprise-grade security with the new Codefresh Runner that helps organizations run Codefresh pipelines behind a firewall without having to manage a full on-premise solution. 

Additional details are available here.

Pega software hackathon winners
Pega announced the winners of the Pega Community Hackathon 2020 with the Best in Show award going to Angelo Mermiklis for his ‘V for Volunteer’ omni-channel application that connects employees with open volunteering opportunities in their organization. 

The Runner Up Award went to the srcLogic team for ‘Pyra,’ a web-app that enables employees to suggest and vote on new ideas that could impact change in their organization. 

“We were impressed with the level of participation, skill, and passion from our global developer community who used their time and talents for the greater good,” said Stephanie Louis, the senior director of community and developer programs at Pegasystems.

The full list of other awards is available here.

Red Hat collaborates with on MLOps
The data science platform is now part of the Red Hat OperatorHub as a certified platform to deliver AI lifecycle management, and simplified MLOps to enterprise DevOps and data science teams across industries.

“Together with and Red Hat OpenShift, data scientists, IT and DevOps teams are empowered to better manage infrastructure in the hybrid cloud and accelerate the ML workflow in one automated and unified platform,” the company wrote in a post.

The integration with Red Hat, users will have access to managed Kubernetes deployment on any cloud or on-premises environment, fully automated installation and lifecycle management, and all the tools data scientists need for ML/AI development from research to deployment. 

Apache weekly roundup
Last week week saw the release of Apache Chart 3.0.0 and SkyWalking Python 0.1.0 with built-in libraries `http` and `urllib.request`, and support for third-party library `requests.’

Other updates included Apache Avro 1.10.0, Apache Storm 2.2.0, and Apache Kylin 3.1.0 in the Big Data space. 

The full list of new releases from Apache is available here.

Fri, 24 Jul 2020 03:36:00 -0500 en-US text/html
Killexams : Infosys Ltd.

Infosys Limited (NASDAQ: INFY) was started in 1981 by seven people with $250. Today, we are a global leader in the 'next generation' of IT and consulting with revenues of $6.35 billion (LTM Q1–FY12). Infosys defines, designs and delivers technology–enabled business solutions that help Global 2000 companies win in a Flat World. Infosys also provides a complete range of services by leveraging their domain and business expertise and strategic alliances with leading technology providers.

Infosys' offerings span business and technology consulting, application services, systems integration, product engineering, custom software development, maintenance, re–engineering, independent testing and validation services, IT infrastructure services and business process outsourcing. Infosys pioneered the Global Delivery Model (GDM), which emerged as a disruptive force in the industry leading to the rise of offshore outsourcing. The GDM is based on the principle of taking work to the location where the best talent is available, where it makes the best economic sense, with the least amount of acceptable risk.

Infosys takes pride in building strategic long–term client relationships. Over 97% of their revenues come from existing customers.Infosys has global presence through its 50 offices and development centers spread across India, China, Australia, the Czech Republic, Poland, the UK, Canada and Japan.  Infosys and its subsidiaries have 133,560 employees as on June 30, 2011. Infosys’s Finacle is Universal banking solution that caters to core banking, e–banking, Islamic banking, treasury, wealth management and CRM requirements of retail, corporate and global banks. It is used by over 106 banks across 61countries,namely UK US, China, Taiwan, Hong Kong, India, Zimbabwe, Saudi Arabia, Maldives, Nepal,  etc

Software Engineering & Technology Labs (SETLabs) is the research arm of Infosys. it is at the forefront of anticipating and shaping the evolution of technology and its impact on business. Infosys SETLabs undertakes targeted R&D to address your business problems. Our researchers are engaged in cutting–edge research to share insights with clients. We focus on research areas such as Malleable Architecture, Pervasive Access, Flexible Processes and Personalized Information. These areas constitute the fundamental business technology components of a progressive, information–centered enterprise.

Products and Services offered by the company:

IT Services

  • Application Services

  • Architecture Services

  • Enterprise Quality Services

  • Independent Validation Services

  • Information Management Services

  • Infrastructure Services

  • Packaged Application Services

  • SOA Services

  • Systems Integration Services

Engineering Services

  • Product Engineering

  • Manufacturing Process and Plant Solutions

  • Lifecycle Management

  • Consulting Services

  • Information & Technology Strategies

  • Product Innovation

  • Next Generation Commerce

  • Core Process Excellence

  • Learning & Complex Change

BPO Services

  • Business Platforms

  • Customer Service Outsourcing

  • Finance and Accounting

  • Human Resource Outsourcing

  • Knowledge Services

  • Legal Services

  • Order Management

  • Sourcing and Procurement Outsourcing

Product and Platforms

Subsidiaries of the company:

  • Infosys BPO

  • Infosys Consulting

  • Infosys Australia

  • Infosys China

  • Infosys Mexico


  • 1981 – Infosys was incorporated by N R Narayana Murthy and six engineers in Pune, India with an initial capital of $250. In the same year, the company received an order from its first client Data Basics Corporation of New York.  

  • 1983 – The company shifts its headquarters from Pune to Bangalore.

  • 1987 – The company opens its first international office in Boston, US.

  • 1993 – Infosys Introduced Employee Stock Options (ESOP) program. The same year company received ISO 9001/TickIT certification

  • 1994 –The company relocated its corporate headquarters to Electronics City, Bangalore. It opened a development center at Fremont.

  • 1995 – The company opened its first European office in the UK and Global Development Centers at Toronto and Mangalore. It also established e–Business practice.

  • 1996 – The Infosys Foundation was set up.

  • 1997 – The software major set up an office in Toronto, Canada. The company was assessed at CMM Level 4.

  • 1998 – The company began enterprise solutions (packaged applications) practices.

  • 1999 – The company generated revenues of $100 million. In 1999, Infosys was listed in NASDAQ. Later in the year 2006, the company became part of NASDAQ–100; it was first Indian and only the company to be part of any of the major global indices. It achieved a CMM Level 5 certification. The same year the company commissioned various offices in Germany, Sweden, Belgium, Australia, and two development centers in the US. The company launched Infosys Business Consulting Services.

  • 2000 – The company’s revenues touched $200 million mark. Infosys opened offices in France and Hong Kong, a global development center in Canada and UK, and three development centers in the US. It company re–launched its universal banking solution– Banks 2000 as Finacle.

  • 2001 – The company touched $400 million revenues mark. It set up offices in UAE and Argentina, and a development center in Japan. Infosys was rated as the Best Employer by Business World/Hewitt

  • 2002 – Infosys touched $ 500 million revenues mark. Nandan M Nilekani takes over as CEO from N R Narayana Murthy, who is appointed Chairman and Chief Mentor. The company opened offices in the Netherlands, Singapore and Switzerland. Infosys collaborated with the Wharton School of the University of Pennsylvania to set up The Wharton Infosys Business Transformation Awards (WIBTA). The same year, company launched Progeon, that offers business process outsourcing services.

  • 2003 – The company established subsidiaries in China and Australia. It expanded its operations in Pune and China and established a Development Center in Thiruvananthapuram

  • 2004 – The company touched $1 billion revenues mark. Infosys Consulting Inc was launched.

  • 2005 – The company records the largest international equity offering of $1 billion from India.

  • 2006 – Infosys celebrated 25 years of its existence. The company touches $2 billion revenues mark. The employee strength grew to 50,000+. N R Narayana Murthy retired from the services of the company and board of directors appointed him as an Additional Director. He continues Board of Directors appoints him as an Additional Director.

  • 2007 – Infosys crossed revenues of $3 billion. Employees strength grew to over 70,000+. Kris Gopalakrishnan, COO became CEO and Nandan M Nilekani was appointed as Co–Chairman of the board of directors. The company set up a new subsidiary in Latin America.

  • 2008 – Infosys crossed revenues of $4.18 billion.

  • 2009 – Infosys USA Foundation has provided a grant for the New York City (NYC) Science Education Initiative to spread science literacy among students of underserved communities.

  • 2011 – The company bags Rs 700–crore financial services systems integrator contract from the Department of Posts (DoP). This is the second contract from the department for Infosys.

Achievements/ recognition:


The company's certifications include SEI–CMMI Level 5, CMM Level 5, PCMM Level 5, TL 9000 and ISO 9001–2000.



Infosys has been ranked as a leader in The Forrester Wave™: Oracle Application Services Providers, Q1 2014 report
Infosys inducted into the Winner’s Circle in the HfS Enterprise Mobility Services Blueprint Report 2014
Infosys awarded the Highest LEED Rating for two buildings in Hyderabad
Infosys named a Leader in The Forrester Wave™: North American Applications Outsourcing, Q1 2014
Infosys Finacle has been rated as a ‘Best–in–Class’ provider by CEB TowerGroup in its report titled ‘Core Banking Systems for the Large Bank Market’


Infosys begins trading on NYSE Euronext London and Paris markets
Infosys Edge™ wins the NASSCOM Business Innovation Award for 2013
Infosys presented with ‘2013 Environmental Tracking Carbon Ranking Leader’ award
Infosys has been awarded the 2013 Ian Kiernan Award for Corporate Social Responsibility by the Australian Human Resources Institute.
Asiamoney’s annual Corporate Governance Poll 2013 votes Infosys as the best in several categories including ‘Best Overall for Corporate Governance’ and ‘Best for Investor Relations’.
Infosys bags platinum at the Asset Excellence in Management and Corporate Awards 2013.
Infosys ranked third globally for corporate governance practices and second best for IR website in India by IR Global Rankings 2013.
The National Outsourcing Association (NOA) has presented Infosys and BT with the 2013 award for excellence in telecommunication, utilities and hi–tech outsourcing.
Infosys has been positioned in the winner’s circle in HfS Enterprise Analytics Services Blueprint 2013. The report recognizes Infosys for its significant scale in analytics, execution excellence across service areas, and responsiveness to clients.
The CEB TowerGroup Mobile Banking Solutions Technology Analysis report has recognized Infosys Finacle as a ‘Best–in–Class’ provider.
Infosys BPO has been positioned in the Leaders category in Everest Group’s Procurement Outsourcing (PO) Service Provider Landscape with PEAK Matrix Assessment 2013 report.
Infosys is a winner of the prestigious Global Most Admired Knowledge Enterprise (MAKE) Award 2013 for the ninth time. We have also won the Asian MAKE Award eleven times in a row.
Infosys topped the 2013 Institutional Investor Rankings among all Indian companies across sectors.
Finacle won the prestigious Best Core Banking Technology award in the Innovation in Technology and Transaction Banking Awards 2013, organized by The Banker (a Financial Times publication).
Infosys China was recognized among the ‘2013 Top 10 Global Services Providers’ in China at the 5th Annual China Sourcing Summit.
Infosys Public Services recognized by Avivia Health from Kaiser Permanente as a strategic partner to develop its innovative gamification platform to Boost consumer engagement.
Infosys Public Services Inc. has been named in the ‘Healthcare’s Hottest Companies for 2013’ list by Modern Healthcare, a leading healthcare publication for senior decision–makers.
Infosys honored in 2013 Institutional Investor All–Asia Rankings.
Infosys received Global Telecoms Business Innovation Award with BT .
Infosys named IBM’s Smarter Commerce Business Partner of the Year for Australia and New Zealand.
Infosys received the global award for excellence in biomedical engineering.
Infosys won CorpU’s Learning Excellence and Innovation Award 2013 for ‘Connect Architecture’ program.
Infosys recognized as a 2013 Environmental Tracking Carbon Ranking Leader for longstanding commitment to sustainability.
InStep, the global internship program at Infosys, won the National Council for Work Experience (NCWE) Award 2013 in the ‘Best Large Organization – Short Term Placements’ category.
Infosys positioned as a ‘leader’ in Gartner Magic Quadrant for Oracle Applications Management Service Providers, Worldwide.
Infosys Cloud Ecosystem Hub conferred 2012 Golden Peacock award for the ‘Most Innovative Product / Service’.
Infosys Edge won the NASSCOM Business Innovation Award 2013.
Infosys ranked as a ‘leader’ in The Forrester Wave: Enterprise Mobility Services, Q1 2013 report.
Infosys ranked No.1 among the best managed companies in Asia Pacific in the annual Euromoney Best Managed Companies in Asia survey, 2013. 


Listed on the NYSE market
Infosys acquires Lodestone Holding AG, a leading management consultancy based in Switzerland
Forbes ranks Infosys among the world's most innovative companies
Infosys among top 25 performers in Caring for Climate Initiative
Infosys awarded National Energy Conservation Award 2012 for energy conservation efforts at its campuses in Jaipur and Pune, India .
Infosys Finacle ranked as a ‘long–term leader’ in The Forrester Wave: Global Banking Platforms, Q4 2012, published by Forrester Research.
Infosys recognized for its corporate governance practices, financial disclosures, and IR website in the 2012 IR Global Rankings.
Infosys BPO won the 2012 Optimas Award for ‘Managing Change’.
Infosys BPO received the Gold Award for Marketing Excellence in the category 'Marketing with Social and Interactive Media'.
Infosys named a ‘leader’ In IDC MarketScape: Worldwide Oracle Implementation Ecosystem.
Infosys won the 2012 Microsoft Platform Modernization award.
Infosys received three Oracle Excellence Awards.
Infosys positioned as a ‘leader’ in the Magic Quadrant for International Retail Core Banking 2012.
Infosys BPO won a Golden Peacock HR Excellence Award 2012.
Infosys recognized as one of the Achievers 50 Most Engaged Workplaces in the United States.
Infosys BPO rated ‘Positive’ in the North American Life Insurance Policy Administration Vendors.
Infosys BPO won the Best Learning & Development Award 2012 in the ‘Innovation in Learning’ category.
Infosys ranked among the top 2 on IAOP’s 2012 ‘Global Outsourcing 100’ List.
The Infosys Annual Report 2011–12 won the ‘Silver’ in the 2011 Vision Awards Annual Report Competition instituted by The League of American Communications Professionals LLC (LACP).
Finacle from Infosys won the Core Banking Technology Provider of the Year award.
Infosys identified as an ‘innovation leader’ in India in KPMG’s 2012 Global Technology Innovation Survey.
Infosys honored with the No. 1 Company for Investor Relations in India award at the Thomson.
Infosys ranked first in the IT Services & Software sector at the 2012 Institutional Investors All–Asia Executive Team in two categories – Best Investor Relations nominated by the buy–side’, Best Investor Relations nominated by the sell–side'
Infosys BPO positioned in the ‘Leaders Quadrant’ of the Magic Quadrant for Finance and Accounting BPO.
Infosys identified among top 25 performers in Caring for Climate Initiative.
Infosys won Pegasystems Excellence in Solution Development award.
Infosys BPO received Outsourcing Excellence Award 2012.
Infosys honored with the 2012 IT Partner of the Year Award from Analog Devices.
InStep, global internship program from Infosys, won the prestigious National Council for Work Experience (NCWE) Award for ‘Work Placement of the Year 2012’.
Infosys BPO received 7 awards at the World HRD Congress 2012.
Infosys recognized as a ‘leader’ in Consulting, Solutions and Services for Life Sciences Industry in IDC MarketScape.


Infosys won the 2011 Global Most Admired Knowledge Enterprises (MAKE) Award – the first and only Indian company to win the award eight times.
Infosys ranked 4th in 2011 Bliss Leap Awards.
Infosys ranked No. 1 in all the 4 categories – ‘Best IR website,’ ‘Best Online Annual Report’, ‘Best Financial Disclosure,’ and ‘Best Corporate Governance Practices’ – at the 2011 IR Global Rankings in India.
Infosys recognized in Institutional Investor magazine's 2011 All–Asia Executive Team Rankings.
Infosys won ‘Platinum Award’ in The Asset Corporate 2010 Awards.
Infosys topped Asiamoney’s poll on best practices in corporate governance.
Infosys voted the most admired Indian company in the Businessworld Most Respected Companies 2011 survey.
Infosys, the most preferred company to work for in India: Business Today survey


  • Infosys wins the RMMY 'Best in Show' award for the third year in a row

  • Infosys among Top 20 Global Companies to win the Most Admired Knowledge Enterprises (MAKE) Award 2010

  • Infosys BPO wins 'BPO Organization of the Year' and 'Fun at Work' awards from Stars of the Industry Opens

  • Infosys wins American Society for Training & Development (ASTD) award for excellence in inclusivity



  • Infosys BPO wins special award at the 2008 NOA Awards

  • Infosys BPO wins the Global Six Sigma award

  • Infosys wins two Banker Technology Awards for its exceptional work in wholesale and capital markets 

  • Infosys wins Eastman Chemical's provider Excellence Award for the second consecutive year

  • Infosys received the '2007 Vendor of the Year' award from Ameriprise Financial

  • Infosys wins Investor Relations Global Rankings 2008 awards in APAC categories


  • Infosys becomes the first Indian company to win Nielsen Norman Group's Intranet Design Annual Award 

  • Infosys wins the 2007 Optimas Award in the 'Global Outlook' category


Infosys was ranked among the top 50 most respected companies in the world by Reputation Institute’s Global Reputation Pulse 2009.

Infosys won Sears Holding Corporation's Partners in Progress award for the second consecutive year.

Infosysalso won HDS' Diamond Award for 'Best Virtualization Strategy' and Platinum Award for 'Best Green Strategy for a Data Center'.

Infosys was also listed in the Most Admired Knowledge Enterprises (MAKE) 2008 study and Forbes' Asian Fabulous 50 for the fourth consecutive year.

The company was conferred with the NASSCOM gender inclusivity award and the Asset magazine acclaimed their Corporate Governance, acknowledging their corporate policies and practices as amongst the best in the industry

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