Cost Savings and Business Benefits Enabled by InRule
InRule engaged with Forrester Consulting in a commissioned study to discover the true value of our no-code, integrated AI decisioning platform. The new report, The Total Economic Impact of InRule, reflects data collected from directly interviewing six customers across the insurance, financial services, healthcare and manufacturing sectors.
The composite
Forrester aggregated their collective results into “The composite organization.” Their description of this representative InRule customer reads as follows:
“The global organization has $10 billion in revenue and 20,000 employees spread across multiple locations. The organization faces a high volume of critical, repeatable decisions, and is in an industry affected by evolving regulations, prices, and policies.”
Key challenges
The organizations interviewed employed a range of legacy systems, both on-premises decision engines as well as SaaS applications. While their technology mix varied, they struggled with the same challenges in successfully deploying and updating decision automation.
Antiquated technology – Interviewees reported as their systems aged, manufacturers no longer supported their infrastructure. Technical complexity required personnel familiar with their antiquated decisioning to deploy and make rule updates. As these key team members departed, the resulting brain drain shifted rules management to a precious few.
Manual rules creation – Interviewed organizations collectively bemoaned manual decision authoring and deployment, hampering IT productivity and limiting agility to respond to changing market conditions.
Inability to democratize – Interviewees recognized the value of empowering business users to author and deploy decision logic directly. However, they lacked the internal resources to make that happen.
Duplication due to siloed systems – Different decisioning applications employed across disconnected data centers caused interviewed organizations to suffer duplication of efforts with no single control over vital decisioning management.
Limited success – Prior to turning to InRule, organizations facing the headwinds of antiquated, siloed systems, lack of business-user control and cumbersome, painfully slow process of launching and updating rules logic failed to realize maximum impact from their decisioning.
Decisioning objectives
The interviewee’s organization looked for a solution that could:
- Break down silos, simplify technology stack and centralize decision logic for easy access organization-wide.
- Reduce or eliminate the burden on data scientists, senior developers and other expensive personnel.
- Empower business users to directly author and modify business rules without having to write code.
- Eliminate decisioning duplication and speed up deployment.
- Centralize decision logic management and improve logic transparency and explainability.
- Scale as their decisioning demands change.
- Uplift employee and partner experiences.
Key three-year findings
By leveraging InRule’s AI Decisioning platform, the composite organization realized the following results:
421% Return On Investment – The composite organization representing all interviewees realized benefits totaling $7.47 million versus costs of $1.43 million.
$6.03 million Net Present Value – Composite InRule user realizes a net present value of over $6 million, reflecting benefits realized above associated costs.
$2.9 million in IT savings – Low-code decisioning equals 80% lower development time, enabling faster execution of complex business rules, and apply a higher volume of decision logic. Interviewed companies saved a composite totaling nearly three million.
80% reduction in time to modify rules – The no-code InRule platform enables non-technical users to directly update business rules without IT assistance, cutting the time to update a business rule by 80%, saving $422,000.
$3.8 million profit increase – Accessible decisioning enables organizations to implement more nuanced business rules and update them faster, significantly lowering loss rates and raising bottom-line profits. Forrester reports their composite customer increased profits $3.8 million through InRule AI decisioning.
$268,000 savings in retiring legacy systems – The composite InRule customer reduced legacy licensing, infrastructure, maintenance and support costs by retiring siloed, antiquated or incompatible systems, resulting in $268,000 in cumulative savings.
Access the Forrester Total Economic Impact study and find out why these organizations turned to InRule AI Decisioning and how they’ve collectively realized 421% ROI.
