INNORULES which recently signed a partnership with a Malaysian IT company, InfoConnect, announced that it has laid a foothold to supply its digital transformation core software solutions to Southeast Asian countries such as Thailand, Indonesia, and Vietnam.
INNORULES previously signed contracts with Japan and CIS (Commonwealth of independent states) countries to supply various software solutions necessary for digital transformation of companies and financial institutions. INNORULES expects to overcome the COVID 19 recession in the SW industry through global market expansion.
InfoConnect, INNORULES' global partner business, is a Malaysian IT company developing and selling business management and integrated business management software solutions. It is a software company specializing in Southeast Asia.
An official from INNORULES said, "We have significantly reduced the time and cost of market development through the direct dispatch of domestic employees. INNORULES expects to accelerate the expansion of the overseas market through marketing and sales strategies tailored to local circumstances."
The products INNORULES is working on to globalize are DDM (Digital Decision Manager, Digital Decision Support System) and DPM (Digital Product Manager, Digital Product Information Management System), key software solutions for digital transformation. INNORULES currently holds an 80% market share in the domestic insurance SW solution market.
An official from INNORULES said, "In response to the social distancing restrictions, INNORULES will not only sign a partnership contract with overseas customers, but also provide product training to DDM/DPM in a non-face-to-face manner." he added,
"We are creating materials containing industry-specific use cases to capture the interests of potential clients. We are also releasing various audio visual contents to strengthen and support overseas partners' sales and consultants."
Kim Kil-Kon, the CEO of INNORULES, said, "We are maintaining our reputation as a leader in digital transformation software provider in the Korean market by supplying digital transformation software solutions to insurance and financial institutions. InfoConnect, which recently signed a partnership, shows that if a local company develops a market in neighboring countries, it will be possible to reduce time and cost significantly."
Lim Tong Pheng, the CEO of InfoConnect, commented, "There will be many demands from Thailand, Indonesia, and Vietnam market for INNORULES' digital decision manager (DDM) and digital product information management system (DPM), as they are especially from Korea. It will be recognized as a core strategic product by increasing the business productivity of insurance and financial institutions."
Meanwhile, INNORULES plans to diversify export regions to Europe and North America in addition to Asia to minimize the impact of COVID-19 and promote product development tailored to regional characteristics. Earlier this year, INNORULES established a branch office in Silicon Valley, USA, and plans to open two European branches, including Frankfurt, Germany, to advance financial markets. INNORULES announced that it will reinforce the organization for this purpose and is drawing a blueprint to achieve 30% of global sales by 2023.
Digital Decision Manager (DDM) can create business rules easily and apply them to the company's IT system. There are many advantages to introducing DDM. The person in charge manages business rules using the integrated rule management tool. △ Integrated policy management △ Direct application of creation and edition of policies to the system in business language △ Separation of business rules from the system for improving work efficiency
Digital Product Manager (DPM) is a product information management system that supports the development of new products quickly and easily by disassembling and assembling the product information, structure, and attributes that makeup products as a solution to these problems. InnoPoduct's integrated management of product information and business rules based on a powerful self-development rule engine provides flexibility to accommodate changes in the internal and external environment and quickly apply changes to the enterprise system.