Pegasystems Inc Q2 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Steven Richard Koenig - SMBC Nikko Securities America, Inc., Research Division - Analyst : And I'll add my congratulations on the quarter. Just one financial question then one follow-up. Ken, maybe can you just help connect the dots on how the numbers, trying to get on looking at the cloud percentage of new commitments was 50% for the first half in total, I think it ran maybe a little high in Q1, so maybe a little lower in Q2, but cloud ACV accelerated sharply. So just maybe help me understand that. And then I got one more specific question for you guys.

Question: Steven Richard Koenig - SMBC Nikko Securities America, Inc., Research Division - Analyst : Okay. That's helpful, Ken. And then just for my last question. I'm curious, maybe just on your initiatives, I think you embarked on a couple of years ago now to improve deal velocity. And Alan, you made a reference to some of the low-code deals earlier. How is that coming? I hear you that duration is steady, and that's a good thing, but wondering about deal velocity. And then I'll just add as well, any color on any major competitive bake-offs in the quarter as well. And that's it for me.