The IFRS-17 insurance accounting standard comes into force in May 2021, requiring insurance firms’ financial accounting systems to process transactions at a much finer level of detail.
Decision management is a powerful enabler for automating regulatory compliance, delivering transparency, and enhancing profitability.
Read this article to understand how high-speed, automated support for IFRS-17 was achieved with DMN and Rapidgen software
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Dr. Jolyon Cox and Dr. Jan Purchase will jointly present “High-Performance Decision Model Execution by Compilation of DMN into Machine Code” at DecisionCAMP on 17 September 2018.
Explaining how to achieve high-performance decision making, and show a live demonstration from DMN model at 100,000-1,000,000 decisions per second.
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In response to another DM challenge, we proposed an optimized DMN decision model.
Benchmarking tests on a simple laptop show high throughput and scalability at 500,000 decisions per second on a single core.
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The General Data Protection Regulation (GDPR) will start to be enforced across the EU in May 2018 for companies handling data on EU persons or companies. This includes the requirement to explain your decision-making.
If your company falls under the scope of GDPR, using decision modeling, deploying a decision technology stack and executing your automated decisions on a highly performant decision execution engine are going to be vital.
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The RapidGen team is attending DecisionCAMP in London, July 12th -14th, 2017
The Decision Model & Notation standard, with its advantages and constraints as an evolving industry standard, will be a primary focus for both panel discussions and practitioner presentations.
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RapidGen Software, with its own Decision Table-based language, RPL, is adopting the Decision Model & Notation (DMN) open standard from the Object Management Group.
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Part 1 showed how a decision table can express the complex business rules involved in calculating someone’s annual leave entitlement.
The decision table is accurate and easy to read, but here is another way to write the same logic in a decision table. Both methods are directly equivalent and are efficient ways to communicate logic for programmers.
Now see how RapidGen can take this one step further and directly execute the decision table without needing to rewrite any code.
Read MoreOne of the challenges faced by business analysts is bridging the complexities of the real world with the simplified, logical, organized world of IT systems.
Business analysts need a way to represent complex business rules and decision-making processes in a way that is 100% precise for IT but still makes sense for non-IT specialists.
Decision tables are re-emerging as a popular format to represent this logic so that IT developers can accurately write code for business processes.
See a decision table example where realistic business rules are represented accurately. The format is ideal for business and IT professionals.
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This example decision table prepares invoices for sending to customers.
It shows how a decision table can contain the necessary logic in less than a page.
The equivalent in COBOL or Java would run to a number of pages and be much harder to understand.
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The RapidGen senior team is joining other leading OpenVMS practitioners for four days of technical content.
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