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Between February 2012 and March 2014, a leading vehicle-renting corporation materially misstated its pre-tax income due to accounting errors across multiple business units and periods, leading it to pay fines of $16 million to the SEC due to which the corporation to appear to be in a stronger financial position than it was
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Between February 2012 and March 2014, a leading vehicle-renting corporation materially misstated its pre-tax income due to accounting errors across multiple business units and periods, leading it to pay fines of $16 million to the SEC due to which the corporation to appear to be in a stronger financial position than it was
Insurance companies such as Life Insurance Policy (LIC), HDFC Life, SBI Life, ICICI Prudential Life, etc., process millions of documents daily. From claims letters to coverage summaries, regulatory reports and policy certificates, the list goes on and on. Conducting this documentation process manually creates bottlenecks that slow operations, increase errors, and frustrate customers waiting for critical paperwork.
In the constantly evolving world of Manufacturing, time is money. At the same time, the paperwork required in this industry is huge and causes unprecedented delays. From invoices and shipping labels to compliance reports and audit logs, documentation plays a critical role in ensuring smooth operations, traceability, and regulatory adherence.
Constantly changing rules and policies by the RBI (Reserve Bank of India) make maintaining compliance in banks very challenging. Demands around KYC (Know your customer), AML (Anti-Money Laundering) and internal audits are increasing, and manual processes are not enough to keep the banks up to date with these changes.
In the current competitive landscape, instant decision-making and regulatory compliance aren't optional—they're a necessity.
At their core, rule engines are software components that separate business logic from application code.
The conversation around business automation has been evolving rapidly, and at the forefront of this transformation are rule engines.