Alexei Gogolev
JPMorgan Chase & Co, Research Division

Great. Hello, everyone. My name is Alexei Gogolev and welcome to JPMorgan Boston TMC Conference. Today, we're delighted to be hosting Pegasystems management team. First of all, Alan Trefler, welcome, Founder and CEO of the company; as well as Ken Stillwell, company CFO. Alan, happy to have you here. And first of all, if we could maybe begin with a short overview of the business, what investors who are new to Pega story, maybe talk about what Pega does and provide maybe a few use cases to better understand the business.

Alan Trefler
Founder, CEO & Chairman of the Board

Well, I'll let Ken kick that off. He talks to the investors all the time.

Kenneth Stillwell
COO & CFO

Okay. All right. So Pega has been around for quite a while, helping traditionally or historically enterprises with scale transactions. That isn't exclusively companies that work in the B2C industry, but there's a lot of connection there between B2C business models and a significant amount of volume of work that needs to be automated. And that volume of work also tends to be very structured.

Deterministic workflows is the term that's more commonly used these days. We've always thought about the power of Pega being to be able to build something once and run it millions of times the same and predictably and then allow the change to be manageable in terms of the evolution and how we innovate and how we change