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Growing interest of INNORULES in the Japanese market

On the 8th, INNORULES CO.,LTD was invited to the 'High-Speed Development and Renovation Forum' held in Tokyo, Japan, hosted by Nikkei Computer, and it was introduced as a business rule management system (BRMS) with customer use cases.INNORULES was invited to this event because its solution was published in Nikkei Computer, a Japanese business computer magazine, and Japan’s interest in InnoRules grew. Nikkei Computer conducted a preliminary investigation to publish articles on the direction of IT construction in Korea earlier this year, and they found that Samsung Life Insurance, Samsung Card, KT, LGU+, and SKT applied BRMS differently from Japanese companies.Based on this, in February, Nikkei Computer visited six companies, including SKT, Samsung Life Insurance, Insprit, Samsung Card, Korea Housing Finance Corporation, and Hyundai Marine & Fire Insurance, to conduct coverage. Afterward, an article titled, 'Advanced countries with ultra-high-speed development, the unknown situation of Korean companies' was published. Here, he pointed out that while Korean companies are taking a global leap, Japanese companies are losing their competitiveness.In particular, he saw that the driving force behind the success of Korean companies lies in the fast development of an operating system and business system. The article also introduced use cases and the results of each company in Korea in detail. In addition, it was analyzed that many Korean companies introduced BRMS into their work systems to increase development productivity and quickly reflect business changes in their systems.An official from INNORULES explained, "When Nikkei Computer investigated the status of BRMS adoption by Korean companies, it was found that most companies adopted our products."INNORULES decided to focus on nurturing the BRMS market, which has recently been attracting attention in Japan, through Annest Business Solutions (CEO Son Seong-il), a Japanese exclusive distributor that opened in 2010.
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12.08.08
[CEO interview] Kim Kil Kon, CEO of INNORULES, “Customers called customers”

It is often said that you will see the light someday if you choose to go the right way rather than playing tricks to overcome the crisis of the moment. I found out that these words were not empty words while meeting with Kim Kil-Kon, the CEO of INNORULES. INNORULES is the No. 1 company in the Korean business rule engine market that has effectively alienated the foreign solutions in the Korean peninsula.CEO Kim Kil-Kon said, "I did my best on the project, and the customer introduced me to other customers. Even when the person in charge was no longer related to the project, they would help us and allow us to compete equally when the related project went on. There were situations where I couldn't help but be concerned with the profits in front of me, but I worked based on my business principles, and the customers eventually helped me."The business rule engine drew attention in the corporate market by eliminating maintenance problems and complexity that occurred when the business logic was developed directly into the source, so that the business logic could be directly reflected in the application by removing it altogether. In particular, it is widely applied in the financial sector, where various products are rapidly released and disappear and it has also recently spread to the manufacturing sector.CEO Kim Kil-Kon said, "A lot of people in the field use Excel and use it well. If work requirements change, the business rule engine can be reflected immediately by adding one line like Excel. Our rule engine is easy to learn and apply in real time."The business rule engine can be seen as a system that contains the intellectual know-how of experts. It is similar to the way in which doctors match data accumulated when treating patients to find things that doctors have not thought of. Errors can be minimized, but the problem is that it is difficult to keep all knowledge updated to the engine. Steady improvement of engine performance is essential because poor performance immediately affects system operation.After joining ForceData, he worked at Hyundai Electronics and Hyundai Information Technology, and decided to start a business in 1993. His decision to start a business was interesting. He laughed, saying, "After living as an employee for years, I wanted to live as a boss." It was a simple motive, but the challenge was not easy. There were already foreign companies such as IBM and CA in the market.Since the foundation of INNORULES in 1999, the company had focused on system development for the first three years. "Initially, we built an engine that incorporated expert knowledge. I thought it would sell right away if I just made the product," he said. "When I made the product, there were no customers. However, a customer from Samsung Fire & Marine Insurance, who saw our engine, gave me this idea and advised me to develop a business rule management solution. That's how we decided to enter the business rule engine market."Ten years ago, when INNORULES had just started the business, the rule engine did not come out as an engine—changing information was input into the database to carry out the project. It was a data-driven method. However, even when using business logic in DB, DB had to be modified when new requirements came out. The idea started from the question, "What if we separate business logic from DB and process them in the engine?"Calculating insurance premiums is quite complicated. While satisfying the main rule, it should immediately reflect the calculation results of numerous small rules linked to the main rule. It meant that if we were to create a rule engine that the market needed, it should be able to call other rules from one rule. I threw away the expert engine and invested three months in developing a prototype by changing what I had developed so far into a business rule engine. It took us another year to look for customers.Although the Samsung Fire & Marine Insurance customer suggested the idea, the famous education company DAEKYO became the first customer of INNORULES. DAEKYO had a problem implementing the logic for calculating allowances and fees for teachers into the SAP ERP because the logic was too complicated. INNORULES secured its customer for the first time by solving this problem after competing with foreign vendors. DAEKYO was surprised when the system was applied immediately within two to three days. He said calmly, "It was a very difficult time, but I met a good customer."INNORULES is laying a solid foundation in the business rule engine market in the financial sector. It was applied to the calculation of insurance premiums in the insurance sector among the Korea Exchange Bank’s bancassurance project. Despite the popularity of foreign companies, customers were not satisfied with the results. When Mirae Life Insurance was carrying out the next generation system project, the project leader from Korea Housing Finance Corporation, who was already using INNORULES', gave a detailed briefing on how they carried out the business rule engine project and achieved results. "One of the customers tried our solution and recommended it to other customers," he said. "For the first three years, we focused only on development, so we couldn't think of going outside for sales. Back then, our dream was to meet customers and show them what we had created. After the first sale, I had a lot of fun and worked hard. I guess our efforts made a good impression on them," he recalled.It took a long time for foreign companies to respond to local customers’ requirements because their solutions were modified at the overseas headquarters. On the other hand, although INNORULES was a small domestic company, INNORULES immediately responded to customers' requests and that engendered trust.There were also unexpected difficulties. We were in charge of making the most crucial part of the next-generation system, establishing a product factory for a certain fire & marine insurance company. A product factory is critical because master data management (MDM) is the foundation of insurance product management. We worked on the project for four months, but the rival company re-proposed at a lower price, and the customer accepted the offer. We had no choice but to terminate the project and withdraw from the client company. We could do nothing because the customer had already changed their mind. We were paid four months' labor. I heard later that the project did not end so well. It was disappointing because it was our first product factory project, and if we had finished the project, we would have secured other customers. I wanted to go to the lawsuit with the customer but did not go through with it.But then I got a call from another customer. They wanted a product factory system. An unexpected life insurance company gave us a chance, and we were able to deliver the system successfully. What made this more interesting is that the customer made a new profit by selling their products entirely to competitors. Insurance companies don't make such proposals to competitors, but it decided to provide their entire project results for revenue. Thanks to this, INNORULES supplied products to foreign life companies that were not using domestic software. After this sales, other life insurance and fire & marine insurance companies started considering using our solution.It is true that we were lucky. The project that we had been put in was sluggish, but the project manager who had been involved in the previous customer project got involved in the related project. The PM also had experience in related construction, so he pointed out the work that INNORULES should do and instead arranged the excessive requests from customers. Perhaps thanks to that, the project could be completed before the deadline. CEO Kim Kil-Kon also said in this section, "I am fortunate to work with people I am working with right now. Engineers don't like to cheat. I worked honestly, and the customers realized it. They made sure that we could concentrate on the project and nothing else. It's all thanks to these customers that I was able to get where I am now." he repeatedly thanked them.Even though it was an interview, he did not stop bragging about his customers. Many talk about difficulties they had experienced off the record, but CEO Kim did not negatively comment on his customers. It appears he meant it when he said that he believes that INNORULES became the company it is now because of customers. He also expressed his gratitude to the developer team along with the clients. The head of the development team never releases products if the product is not perfect, and the team members did not leave the company even in difficult times. They trusted each other and strived in unison, so the product continued to improve and consequently gained trust from customers.Although the company has distinguished itself in the financial sector, a new breakthrough is needed when next-generation projects are completed. I asked if there was any plan.INNORULES has been paying attention to manufacturers recently. He also said there are opportunities in various industries where large ERP projects are being carried out. As seen in the DAEKYO project, there are certain areas that ERP products cannot fulfill objectives. New opportunities are emerging in those areas, and chances are coming because of INNORULES' brand recognition in the market. He did not forget to mention that the telecommunication sector is also an excellent potential customer.He did not forget to mention the achievements of INNORULES in Japan. Entering the Japanese market was not planned. Therefore, luck played a crucial role in achievement in Japan. In the case of Japan, too, many customers wanted to downsize from the mainframe, but they could not enter the market directly. However, a Korean-Japanese in Japan contacted INNORULES and sent a message that he wanted to sell its products in Japan. "He worked hard to contact us, so we sent him the products and manuals. Not long after, he told us that he had supplied our products to Orix Trust Bank, purchased one copy, and immediately paid us the annual maintenance fee." The Japanese partner had a considerable understanding of our products to the extent that he made detailed manuals of the product. It reminded him of how Japan is famous for meticulous manual writing. CEO Kim, who was in charge of POSCO's Gwangyang yard automation business, said this event recalled his old memories of when he first saw the Japanese manual.The partner gave the manuals to Japanese customers, installed the product according to the manuals, and completed the project successfully. It was a strange experience, and major Japanese IT media visited Korea to cover it. A customer using INNORULES' products also gladly agreed to the visit and shared with the reporter the project results. INNORULES, A company faithful to the basics. After interviewing Kil-Kon, Kim, the CEO of INNORULES, I once again vowed to live hard without cheating. But it's not easy. Still, there seems to be no other way but to try and work hard.
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12.05.15
[Technology Innovation Grand Prize] Innorules, BRMS Solution

Business Rule Management System (BRMS) has been rapidly introduced into the corporate business system since 2000, led by the financial sector, to improve business speed by strengthening the flexibility and adaptability of the business system to business changes.INNORULES (CEO Gil-gon Kim, www.innorules.com) developed a BRMS solution 'InnoRules' in 2001 to meet the needs of the market. InnoRules has been introduced to various corporates and currently has the highest market share. "InnoProduct" is a product factory solution developed based on BRMS to quickly and flexibly accommodate policy changes such as the Capital Market Integration Act and the Financial Product Sales Business Act and changes in products and services such as finance and telecommunications that need to respond quickly to consumer needs. It is being introduced to establish various financial product systems such as insurance, securities, cards, savings banks, and capital. Recently, almost all financial companies that establish product systems are choosing InnoProduct instead of DB-based self-development."InnoRules" is a BRMS solution consisting of an integrated management tool that defines and manages corporate business rules, processing procedures, and judgment standards independently of applications, develops, tests, distributes and maintains business rules, and business rule stores. Various business rules are separated from the program and managed as business rules through systematic objectification, and various management functions such as rule history management, rule verification, and service through API are provided. Through this, flexibility is provided to applications to enable rapid and flexible business operations that lead to easy system development, less maintenance efforts, and cost reduction.Based on this growth, INNORULES, which has developed products with its own technology in the BRMS market, is planning to develop into a company that competes with technology rather than sales power and a global BRMS company that can continue to grow. With INNORULES' products being introduced to the next-generation system in most financial sectors, it is seeking to expand its base by widening the range of BRMS-based products and establishing a domestic sales agency system through a partnership with various solutions.
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10.11.11
[Best IT solution in the second half of 2009] INNORULES' `InnoProduct`

■ 2009 Hit Product in Consumer Recommendation Sector - Product Factory‘InnoProduct,’ a product factory solution from INNORULES (CEO Kil-Kon Kim), a company specializing in business rule management system (BRMS) development, can more efficiently manage the product life cycle from product planning and development to sales and post-analysis. It is a BRMS-based solution that integrates product structure information and product service-related rules (business rules, service conditions, etc.)InnoProduct enables convenient management of product structure and product-related business rules. It also enables efficient management of tangible and intangible product management tasks that require frequent changes in service conditions, tasks that need to be maintained continuously, and flexibility and promptness in response to unprecedented business changes.InnoProduct enables convenient product structure, product component relationships, and product information management. It also assigns rules to products, attributes, and relationships at each level to provide integrated management of product information, attributes, and business rules.Changes in product structure, properties, and rules can be logically defined without modifying physical repositories and programs to accommodate various business changes quickly. InnoProduct delivers high performance through rule caching and efficient storage architecture design.InnoProduct was introduced this year to companies such as Samsung Life, BC Card, Dongyang Securities, Daum Direct Insurance, Construction Mutual Aid Association, and Suhyup for product management and establishment of various business rules management. The application of InnoProduct to securities, card, and savings bank products is an outstanding achievement.INNORULES plans to construct the next-generation system in the second financial sector based on the performance in various financial entities. And also it plans to expand its influence in different service products such as communication and travel. In addition, it plans to advance into the leading financial markets such as Japan, using experience in large domestic financial companies as a stepping stone.
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09.12.15
`InnoProduct` of INNORULES

Instant application of financial products to IT systems■ 2008 Hit Product Consumer Recommendation Sector - Product FactoryINNORULES'(CEO Kil-Kon Kim) 'InnoProduct' has won the Consumer Recommendation Award in the Product Factory category.Recently, the need for quick application of financial products to the system is emerging to respond promptly to the rapid changes in the domestic and overseas financial environment and the diverse needs of customers. INNORULES developed 'InnoProduct', a product factory solution based on 'InnoRules V5.4', a business rule engine to meet these needs.This product can significantly strengthen competitiveness and reduce system management costs by allowing financial firms such as insurance, securities, credit cards, and banks to quickly reflect changes to the system and sell products promptly.The CEO of INNORULES, Kim Kil-Kon said, "The product factory is vital for the insurance products, that are planned by the business department, to be quickly reflected in the IT system."InnoProduct is designed to apply new concepts for future products without system changes and to express various product characteristics by using the flexible product model of the object-oriented concept researched and developed by INNORULES.Since its initial product launch in 2006, INNORULES has received good customer reviews by supplying its solutions to a number of life and non-life insurance companies, starting with supply to domestic life insurance companies' next-generation system construction projects. INNORULES' solutions accommodated customers' various requirements and made significant progress in product functions, performance, and customer trust. INNORULES explained that it won over 80% of insurance company projects in 2007 and 2008. Based on this success in the insurance field, INNORULES is conducting active marketing activities to expand the market to securities, cards, and banks.
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08.12.16

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