InRule empowers technical and business users to change rules and calculations in applications—with less effort, cost, and risk than programming—to help you keep pace with changing marketplace and customer needs.
Today, we're talking with Rik Chomko of InRule Technology, Inc to learn more about how InRule and K2 work together and hear more about what they offer.
Tell us about you.
I am the co-founder and COO of InRule. When we started the company back in 2002, we were looking to create a set of technologies that allowed both non-technical and technical people to modify logic without writing code. It was all about the configuration of a specific application, whether the rules are volatile or you need transparency and you need to make that change in a short period of time quickly and effectively.
Tell us a little about how InRule has evolved and how it's being used.
At InRule Technology, our vision has always been to make it easier and more cost-effective to write and manage logic in InRule than to manage logic in code.
From our perspective, almost every application that we get involved in is a mission critical application. Over time, not only have the number of customers (and customer size) increased, but we’ve also seen an evolution in the way the product is being used. It was previously used primarily where we'd be plugged into a traditional rule-intensive application, like loan origination application or fraud detection in financial services.
Now, we see instances where we're running on a device in the field so customers can, for example, run diagnostics on a large heating and air conditioning unit. Customers use InRule inside an ambulance to assist the responders with the patient in terms of vitals and how they hand off that information to the people admitting the patient into the hospital. We're getting plugged into places we never expected to be, and that's exciting.
There are still a number of companies in the traditional industries using us, from health care to financial services, and in very rule-intensive areas like government, for rule management and compliance.
How do InRule and K2 work together?
There are a number of great use cases for K2 and InRule - one of which we're demonstrating in the upcoming webinar and where the two technologies make a lot of sense - loan origination. When you go in and you say, "Hey, Bank ABC, I want to get a loan," they need to know what kind of house you're buying, what your income looks like, what your credit score looks like and they'll use that information to determine your debt-to-income ratio and all that good stuff.
One of the things that BPM tools and Business Rule Management tools allow you to do is to provide a framework out of the box that you can use to achieve a high level of automation throughout the process. From the K2 perspective, I can come in and initiate the capture of some (or all) that information through K2 smartforms. Then it hits the process, maybe it needs to grab credit data and pull that in.
All the data is then combined and passed to InRule to make an automated decision on eligibility, loan programs, stipulations, etc. Without the rules people would need to manually parse through the information which would take a lot time. That’s why the K2 and InRule partnership is a really good fit. Instead of having a person weed thru all that data, several hundred or even a thousand rules can be created in the background to help the organization achieve a high degree of automation and make a decision of who they're lending to and whether or not they want to lend to them.
Thank you so much for your time, Rik. For more about how K2 and InRule partner together, attend our webinar on May 29th.