The Infocomm Development Authority of Singapore and ILOG today announced their collaboration to further help businesses make use of Infocomm Technology to implement and make business policy changes more quickly and ...
Singapore, 22 March 2005 | For Immediate Release
Asia's First Business Rule Management System Centre of Excellence Opens in Singapore
The Infocomm Development Authority of Singapore and ILOG today announced their collaboration to further help businesses make use of Infocomm Technology to implement and make business policy changes more quickly and cost-effectively through Business Rule Management System (BRMS). The collaboration will help more than 15 local companies develop BRMS pilot projects in key verticals such as financial services, healthcare, logistics and telecoms. This is expected to generate S$10 million in overall project revenue for the Singapore infocomm industry over three years. The project will also train 250 infocomm professionals to develop BRMS solutions (See Annex A for information on BRMS).
To achieve these goals, the Asia's first "BRMS Centre of Excellence" (BRMS CoE) is established in Singapore, to drive these activities. This will enable local Independent Software Vendors (ISV) and System Integrators (SI) to develop BRMS-based solutions for both local and overseas markets. The BRMS CoE will be equipped with the infrastructure and technical expertise for conducting IDA-certified training programmes, developing and piloting BRMS solutions. The Centre was launched today by Mr. Chan Yeng Kit, Chief Executive Officer of the IDA and Mr. Pierre Haren, Chairman and Chief Executive Officer of ILOG (See Annex B on BRMS CoE).
The collaboration is off to a good start, with the first pilot project to be developed by a Singapore solution provider, e-TREK. The project will incorporate BRMS in the development of a seamless straight-through-processing solution, and facilitate insurance claims between insurance companies and healthcare service providers. In this instance, BRMS will complement web services to provide uninterrupted information exchange and transactions, even with frequent changes to rules and policies by the insurance companies and health service providers. This will enable business rules to be updated rapidly, and similarly bring greater convenience to patients as insurance claims can be processed faster. This solution will soon be deployed at Alexandra Hospital.
Speaking at the launch of the BRMS CoE, Mr. Chan Yeng Kit, Chief Executive Officer of the IDA said, "In today's competitive business environment, time is money and having a quick turnaround to implement business policy changes is vital. The development and adoption by businesses of technological products and solutions like BMRS can be a critical differentiating factor in fast moving markets. It is important for local companies to develop and build capabilities in innovative BRMS solutions that can be exportable to the regional and international markets, and tap into this growing market worth US$279.0 million by 2008 worldwide1."
"ILOG's presence in Singapore and our partnership with the IDA dates back to 1998. Today, I?m pleased that our important relationship has reached another milestone," said Mr. Pierre Haren, CEO, ILOG Inc. "Singapore is an established, trusted business hub with excellent infrastructure, and the generalisation of BRMS in Singapore will further reinforce the country's position as a centre of finance and business. The IDA's promotion of BRMS solutions helps underscore Singapore's competitive position as a technology leader and innovator."
A BRMS is a software platform that empowers business users to manage and execute business policies, which are expressed as business rules. In current practice, these business rules are buried in application programme code or embedded in databases, requiring a lengthy and labour-intensive process to change. The adoption of BRMS solutions is gaining worldwide recognition because they allow business rules to be expressed in the language of the business, rather than a programming language, and be managed by business users in an organisation. The benefit is faster business response times to regulations, customer needs and competitive threats. Business users can implement business rule and policy changes, in real time without taking a system offline. The collaboration between IDA and ILOG is expected to help organisations gain a competitive edge and facilitate faster time-to-market.
ISSUED BY INFOCOMM DEVELOPMENT AUTHORITY OF SINGAPORE AND
Notes to Editor:
1 Forecast from IDC 2005
About Infocomm Development Authority of Singapore
The Infocomm Development Authority of Singapore (IDA) is committed to growing Singapore into a dynamic global infocomm hub. IDA uses an integrated approach to developing infocommunications in Singapore. This involves nurturing a competitive telecoms market as well as a conducive business environment with programmes and schemes for both local and international companies. For more information, visit https://www.imda.gov.sg/.
ILOG delivers software and services that empower customers to make better decisions faster and manage change and complexity. Over 2,000 global corporations and more than 400 leading software vendors rely on ILOG's market-leading business rule management system (BRMS), optimisation and visualisation software components, to achieve dramatic returns on investment, create market-defining products and services, and sharpen their competitive edge. The BRMS market share leader, ILOG was founded in 1987 and employs more than 600 people worldwide. For more information, visit www.ilog.com.
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Information on Business Rule Management Systems (BRMS)
BRMS are software tools that allows non-technical business managers to implement business rules across the enterprise in real-time, with minimal assistance from IT professionals.
Business rules can be anything that is used to run the organisation. They can be corporate policies, regulatory authorisations, the logic and procedures found in programming code that comprise corporate or departmental applications, or simply sets of best practices used to solve problems.
With BRMS, business rules are expressed as English-syntax instead of computer code. Examples:
IF the shopper has spent more than $300
AND he is a VIP card holder
AND he has held the VIP card for more than 2 years
AND his purchase is made from 20 Dec 2004 to 26 Dec 2004
THEN give the shopper a 30% discount
AND give the shopper a $50 voucher for the next visit
BRMS Market Outlook According to IDC
According to IDC, the BRMS market shows strong growth in the next five years, BRMS revenue is expected to more than double by 2008 from its current 2003 levels, growing from US$124.6 million to US$279.0 million by 2008.
Top vendor in BRMS market is ILOG, with US$31.5 million, and 25.2% market share in 2003. ILOG's 2003 growth was 41.4%.
Examples of BRMS applications in different organisations
- regulations compliance
- homeland security
- loan underwriting, servicing and origination
- loan pooling
- fraud detection and reporting
- claims processing
- billing management
- product recommendation
- credit processing and decision management
- campaign management
- portfolio risk management
- portfolio accounting, management and optimisation
- pension fund administration
- asset management
- automated trading
- automated pricing
- financial planning and wealth management
- claims processing
- billing management
- billing management
- network and service management
- storage management
- media management
- traffic management
- planning and scheduling
- loyalty programmes
- pricing and revenue management
- promotions and campaigns
- shift management
- space planning
Information on BRMS Centre of Excellence (BRMS CoE)
Business Rule Management Centre of Excellence (BRMS CoE) is developed by ILOG and supported by IDA to accelerate the adoption of BRMS technology to establish Singapore as a BRMS hub.
Located at ILOG Singapore office, the one-stop BRMS CoE is established to provide software developers, system integrators and end-users a centre equipped with the infrastructure to do development work and attend training programme.
Scope of Collaboration
The ILOG BRMS Centre of Excellence aims to achieve the following:
- Product development: assist local independent software vendors (ISV) to develop BRMS solutions and products in the targeted verticals. To accelerate industry-wide acceptance of BRMS, there will be pilot projects in key verticals for ILOG and its local ISV partners.
- Overseas development: Upon completion of the development of BRMS solutions, ILOG will assist the local ISV to market and sell the BRMS solutions and products through ILOG's contacts and customers in Asia Pacific region.
- Manpower development: develop BRMS training and certification programmes to train a pool of local infocomm professionals to be proficient in BRMS technology to support the growing demand.