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Pegasystems leads the charge in BPM market growth
Friday, May 8, 2009 by admin
We all know that times are tough – but despite that, I’ve not seen any drop-off in interest in BPM initiatives or technologies over the past year. Anecdotally, many of the vendors I talk to have said the same thing – BPM business remains strong.
Logically, BPM technology is a strange beast – it’s both “cyclical” with the economy (it naturally fares well in good times, because customers buy it to drive agility and bring products to market faster) and “counter-cyclical” (it fares well in bad times, because customers buy it to become more efficient and cut out waste).
With the announcement of its Q1 2009 results, Pegasystems - which is a pure-play BPM technology provider, pretty much (unlike the other big players like IBM, Software AG, TIBCO, Oracle etc) – confirms the current strength of the market for BPM technology. Total revenue is up 29% year-over-year; but more tellingly, license revenue is up around 60%. At$8.6m, net income for the quarter was around three times larger than the net income achieved in the same quarter of 2008.
These are excellent results for Pegasystems, and good news for the BPM technology market as a whole. This is a market that despite the hype is still in its relatively early stages, with lots of “white space” for expansion – so good results from Pega are unlikely to mean bad results for others at this point.
We’ll be updating our assessment of Pegasystems’ offering in the coming weeks, at the same time as revisiting all our other vendor assessments – watch this space.
Posted in BPM