CAMBRIDGE, Mass., September 8, 2003 â Pegasystems Inc. (NASDAQ: PEGA), a leading provider of rules-based, smart business process management software (BPM), today announced that SyntelliRead Inc., a leading provider of text interpretation software, has joined Pegasystemsâ Alliance Program as a technology partner. The companies will work together to provide customers with increased straight-through processing capabilities.
"We have been using Pegasystems to handle our payment investigations and SyntelliRead to interpret the incoming messages since 2001," said Debbie Ramsammy, business liaison, Operations, UBS Investment Bank. "This has enabled us to automate many of the investigations with some requiring no manual intervention at all."
"Computer systems canât understand human communication in its native form," said Michael Jeske, president, SyntelliRead. "They require data thatâs rigidly structured and formatted, and thus they canât deal with the informality, inconsistency, ambiguity, and incompleteness of human language. Our software converts human communication into a form that computers can understand. It eliminates the manual re-keying of free-formatted data into Pegasystemsâ BPM software and automatically invokes the appropriate business process for each inbound message. With Pegasystemsâ expertise in business process management, weâre confident we can provide our joint customers with solutions that will help increase straight-through processing, and automate the processing of investigations."
SyntelliRead applications facilitate straight-through processing and add increased value to message handling systems by removing the manual routing and data re-keying that often impedes automated message-handling processes. The software helps organizations accurately and intelligently interpret and classify unstructured text, extracting relevant information from text and transforming it into structured data to facilitate processing by other systems. Pegasystems' rules-based BPM software automates both the business decisions and the processes that drive them, automating not only the routing and assigning of work, but also its resolution.
"SyntelliRead has a solid presence in the financial services industry, with pre-packaged knowledge bases available that expedite the roll-out of message-interpretation projects," said Andy Elliott, director of Product Management, Pegasystems. "Combining SyntelliReadâs capabilities with ours will help our customers achieve improved straight-through processing and help them achieve a greater return on investment."
Pegasystems is building a comprehensive Alliance Program, comprised of three types of partnerships: services partners, solution partners, and technology partners. Services partners are system integrators and consultants that scope, design, build, deploy and/or manage client-specific, Pegasystems-based implementations. Solution partners are software development companies that develop repeatable market-specific solutions, based on a combination of partner and Pegasystems technology. Technology partners are companies that interact with, complement or add value to Pegasystems technology.