In the case of banking and financial services institutions(FSI), we have seen how automating business rules can help in mitigating risks involved in the decision-making process. As banking and FSIs are also often faced with regulatory changes and compliance requirements, BRM systems offer the functionality and flexibility for enterprises to make changes to the business rules with minimal coding and programming. This makes BRM systems accessible to both business and IT users as they collaborate to author, improve and maintain decision logic. Ultimately, this helps take the strain off IT departments as business users are empowered to play a more active and central role in automating business processes, responsible for formulating the business logic.
Isn't it enough to have ERP systems in place with similar integrated tools instead of having separate business rules engines?
An integrated ERP system that has its own decision analytics tool comes with a level of parameterisation that is built into the system. While this may reduce the need for a separate BRM system, it may not necessarily be the ideal tool for businesses as it often needs to alter the rules based on regulatory requirements. Unlike ERP systems, external business rules engines allow both business and IT users to easily customise and configure business logic with minimal coding.
One of the examples that we can refer to is the barrier faced by e-wallet service company, NETELLER, who already had rules in their systems but were facing challenges coding in various layers of their application infrastructure - from legacy systems all the way to their presentation layer. An integrated system posed a huge degree of abstraction between business understanding and IT interpretation, which are time and resource intensive.
With Progress Corticon Business Rules Management System, NETELLER had been able to overcome the limitations of integrated business rules components within their systems as they externalise the process. Using our solution, NETELLER has been able to better leverage their data sources to help make valid account approval decisions on a maximum number of customers. The implementation saw record measurable return on investment (ROI) -- in the areas of operational agility, IT efficiencies, and revenue growth -- in just three months.
How should healthcare providers/hospitals in Singapore and the Asia Pacific region turn to technology to enhance their business?
One of the most useful ways for BRM solutions to be implemented in healthcare institutions is in the area of Clinical Decision Support. The technology has proven effective in helping doctors make the right patient care decisions that can:
- Improve quality of care while reducing cost for the hospitals and patients at the same time
- Enable healthcare providers to get ahead of the problem and administer the right support and care for patients
- Address issues before they become too expensive to address, i.e. in the case of disease management