Business Process Management is known for delivering considerable competitive advantage in terms of cost, agility and efficiency. And with the advent of Business Rule Management System (BRMS), which complements BPM by providing practical, cost-effective automated decision making in a broad range of applications, business decision makers can implement their decisions directly, says Jean-Francois Abramatic, director of ILOG Products at IBM.
"A hurdle for BPM, however, has been putting business decisions to work fast enough to make a difference," he says. For instance, with a loan origination system, a decision could be made to change the rates used by the system and the conditions for applying them. "Lost already is the time taken to make the decision. Meetings had to be held, research conducted, the market impact analyzed and so forth, to formulate and pass the decision. Now that the decision has been made, it has to go into effect."
BRMS software helps take a process that could take weeks and boils it down to a couple of days, Abramatic says.
Check out the rest of his guest column and then head over to the Knowledge Network, where two book excerpts address BPM strategies.