IBM coins business event management

IBM is staking out a position in complex event processing as applied to business processes, and it has coined the term "business event management" to describe this embryonic field, reports Information Week.

Complex event processing is relatively new. It was pioneered over several years by start-ups such as StreamBase Systems, a company founded by former University of California at Berkeley professor Michael Stonebraker, and both Oracle and IBM now offer it.

Complex event processing is an ability to define a discrete software event, then monitor it over time, set parameters around it, and trigger alerts if the rules governing it are violated.

The global economic crisis is demanding an unprecedented level of business process agility, control and transparency from global markets, says Cordys, a company that specialises in next-generation BPM solutions, says TMC Net.

Platforms such as ERP and CRM software are not showing enough flexibility to facilitate the rapid change in operations management required in this situation, and that has transformed the business landscape in recent months, says Jan Baan, CEO and founder of Cordys.

With the collapse of many large financial institutions, many companies are now looking at cost-cutting programmes, and mergers and acquisitions as last measures to save their businesses from sinking. These steps result in the large-scale reorganisation of businesses.

MetaPower International is developing an industrial plant safety product, states MarketWatch.

The plant safety product is a suite of management software applications and accompanying services designed to provide a complete solution encompassing plant processes and personnel safety.

The product is designed to assist companies to obtain the OSHA Voluntary Protection Programme certification.