Lux Magi
Productivity Through Experience

Free White Papers

The white papers hereunder have been written by Lux Magi consultants to benefit their colleagues. They are available free of charge and without obligation. To request a copy of any paper, just click on its title.

You can also find related business rules articles on Lux Magi’s Finance Architecture Blog.

Business Decision Management White Papers

These white papers cover applications for the adoption and use of Business Decision Management and Business Decision Modeling.

WP232 Why and How to Apply Decision Modeling

Decisions are important to organisations: determining how customers are treated, how risk is managed, how supply chains are controlled and, ultimately determining the profitability and effectiveness of the organisation. Understanding, modelling, managing and automating decisions is an increasingly important element of many organisations’ business strategy. Modelling these decisions is pivotal to using them as a focus to improve business outcomes.

In these two free chapters from Jan Purchase and James Taylor’s recent book the authors consider the value of decision modelling, how to target its application for maximum gain and how to apply it. The paper also includes an index of decision modelling best practices and a summary of the rest of the book.

WP231 Rapid and Cost Effective Financial Compliance with Decision Management

Decision management and business rules are a powerful combination for agile and cost effective regulatory compliance. Together, this approach and technology is the best platform to address key issues facing financial organizations today and resolves many of the issues with traditional IT systems.

Financial organizations need a reliable way to check that their transaction control, capital adequacy, risk management, and disclosure practices are compliant with a proliferating, ever-changing, often poorly integrated patchwork of regulatory standards. They must quickly detect and remediate existing violations and strategically reduce the number of potential violations in the future. They must also demonstrate that they have done all of this to the satisfaction of regulators, often under considerable time pressure.
This white paper describes the challenges of financial regulatory compliance (time to market; data quality; agile, accurate and auditable change management; effective traceability; the requirement for precise, transparent requirements and rapid and insightful response to issues) and how these are resolved by Decision Management and Decision Modeling.(CLICK HERE TO REQUEST)

Business Rule Management White Papers

These white papers address best practices for the adoption and use of Business Rules and Business Rule Management Systems.

WP202 The Top Ten Mistakes Made By Corporate Adopters of BRMS and How to Avoid Them

In this white paper, first appearing in October 2009's User Experience Reports, we examine the most common mistakes made by companies that are using business rules technologies for the first time. Whether you are trying to select BRMS tools, you have recently embarked on your first business rules project or you are experiencing difficulties on your first project, this paper will show you the pitfalls and how to avoid them. (CLICK HERE TO REQUEST)

WP204 Business Rule Management Systems: What You Don’t Get ‘Out out the Box’

The popularity of Business Rule Management Systems (BRMSs) is increasing as many businesses strive to improve their development agility. But adopters are discovering, to their cost, that BRMS tools only solve a small part of the business problem. Others are finding that their first BRMS projects fail, despite a promising start, because they encounter so many problems that adoption of a BRMS does not address or, what’s worse, that it seems to introduce. In this article, Jan Purchase enumerates the benefits of BRMSs and the five issues that you must address before your organisation can enjoy a good return on its investment. (CLICK HERE TO REQUEST)

WP211 The Advantage of Implementing Accounting Systems Using Business Rule Management Systems

The need for greater agility, business visibility, control and transparency of business policy is vital in accounting applications. Elsewhere these factors are coercing businesses to extract the business logic from their IT components and manage it as a separate asset. The appeal of using Business Rule Management Systems (BRMS) to achieve this is clear: when used correctly these tools can reduce policy change turnaround times from weeks to hours and put business policy experts—not IT departments—in the driving seat.
In this paper we discuss the specific advantages of this approach in accounting systems and demonstrate the benefits of implementing your own accounting system based on a BRMS, rather than implementing a fully bespoke system or buying an ‘off-the-shelf’ package.(CLICK HERE TO REQUEST)

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