Looks to Capitalize on Growth in 2022
InRule Technology, provider of AI-enabled, end-to-end automation for the enterprise, starts 2022 with significant momentum after an extraordinary year of growth in 2021 driven by multiple acquisitions, product innovations, and an expanded team.
“The results from our User Community survey show that we are on the right path, and we believe our plans for 2022 will continue to delight our customers and help them achieve their unique business goals now and in the future.”
Acquisitions
InRule Technology acquired two companies in 2021 to further expand its product offering and advance its vision for making automation accessible across the enterprise:
- In June, the company acquired Chicago-based simMachines, Inc., the leader in explainable AI/machine learning (XAI) applications.
- In September, Sweden-based Barium AB, a pioneer of digital process automation (DPA) SaaS solutions joined the InRule Technology family.
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Product Innovations
InRule Technology debuted key offerings and enhancements in 2021 to meet evolving customer needs. Highlights include:
- The introduction of Author Studio™ to enable subject matter experts to author and edit business rules quickly and easily from anywhere via the web.
- The incorporation of xAI Workbench into the InRule Decision Platform, allowing for automated decisions based on transparent, explainable machine learning predictions.
- Performance, scalability, and reliability enhancements to the InRule SaaS portal.
- The release of InRule 5.7 delivering deeper integrations with both Microsoft Dynamics 365 and Salesforce.
- The release of CI/CD for irCatalog® to improve governance and accelerate decision lifecycles.
- Improved support for Decision Model and Notation (DMN), a widely adopted standard put forth by the Object Management Group® (OMG®), an international, open membership, not-for-profit technology standards consortium.
User Community Updates
InRule Technology also conducted its 2021 User Community Survey. The results revealed the value that enterprises receive from InRule:
- 95% of users would recommend the InRule Decision Platform.
- 97% of respondents said that InRule helped their organization achieve its goals.
- 97% of users indicated that the professional services team either meets or exceeds their expectations.
- Users of the InRule Decision Platform reported saving $1.48MM on average over 7-year investment versus traditional hard-coding.
- Customers reduced application maintenance and implementation efforts by 38% using InRule.
- Users realized annual revenue growth of 5% by leveraging the InRule Decision Platform.
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Revenue
In 2021, InRule Technology realized an annual revenue increase of 23%. This robust growth is due to an increase in InRule’s customer base, a strong customer retention rate, and growing adoption of the InRule Decision Platform. This growth underscores the increasing demand for automation technology across the enterprise.
Team Growth
In 2021, InRule continued its push to hire and retain top talent across the globe to expand and accelerate its ability to deliver market-leading, AI-enabled enterprise automation and better serve its worldwide customer base.
In 2022, InRule has aggressive plans to expand its Product, Operations, Finance, Sales, Marketing, and Professional Services teams, both domestically and internationally. Hiring for several open positions is already in progress and will expand as the year progresses.
“As we embark on our twentieth year of making automation accessible across the enterprise, we are laser-focused on empowering our customers to operationalize, orchestrate, optimize, and accelerate AI-powered applications to address complex decisions and workflows with dynamic requirements,” said InRule Technology Co-Founder and CEO Rik Chomko. “The results from our User Community survey show that we are on the right path, and we believe our plans for 2022 will continue to delight our customers and help them achieve their unique business goals now and in the future.”