Transaction records provide an auditable trail of activity for every part of every business process. Whether for financial transactions such as payments and orders, or tasks such as customer support and service calls, business process logs are required to verify activity in case of disputes, to certify compliance with regulations and terms of service, and to provide detailed evidence of business transactions.
A technique called business process mining uses sophisticated software to analyze logs and identify process, control, data, organizational and social structures. These might include mapping the flow of patients through a hospital or customer problems through a support organization to optimize process flow, measure performance and identify outlier incidents for further investigation.
IT can use process logs to identify flaws in their support or admin processes, or problems that have fallen through gaps in existing process flows. Additionally, business process logs that track activity across multiple systems used in a particular process can highlight anomalies that may indicate security issues.
Security and compliance
IT ops and application delivery
- Monitoring ATM usage
- Monitoring wire transfers
- Monitoring consumer credit card transactions
- Tracking a retail banking transaction end-to-end
- Reporting on key trade statistics in a brokerage
- Analyzing credit limit increase requests
- Monitoring new customer logins to financial applications
- Troubleshooting customer complaints of checkout latency issues
- Assessing the financial impact of eCommerce checkout errors