An organization depends on its financial institution to complete a major transaction, but a glitch holds up funds, negatively impacting cash flow. Meanwhile, regulators fined a different financial institution for failing to catch fraudulent transactions.\n\nIn both situations, better business transaction monitoring could have helped prevent negative, costly outcomes. In the former, more seamless monitoring would have ensured the bank client\u2019s transaction was completed faster, maintaining and even boosting customer satisfaction. For the latter, it could have prevented regulatory fines.\n\nToday, especially, as modern applications and systems have become more complicated and IT infrastructure more complex, seamless business transaction monitoring is crucial. Enterprises need the proper tools to detect incidents early, automate wherever they can to make processes more efficient and free up IT workers for more complicated tasks, and be able to automatically solve any issues quickly.\n\n\u201cBusiness transaction monitoring is transitioning from a support function to a critical element in any organization\u2019s operations,\u201d says Digitate CEO Akhilesh Tripathi.\n\nFrench utility company ENGIE, for one, needed a solution that could monitor its workload automation processes across its extensive IT infrastructure and business applications, and reduce dependency on manual issue resolution.\n\nOne of the world\u2019s largest independent power producers, ENGIE conducts some two-million meter readings and generates over 150,000 invoices nearly every day. ENGIE approached Digitate for help to digitally transform its billing and payment process. The company wanted to move away from manual monitoring and remediation, which were both inefficient and risk-prone, increasing the operational cost and often leading to inaccuracies and delays in revenue generation.\n\nWithin 18 months, ENGIE was able to transform its workload process through a closed-loop solution that uses intelligent automation to automatically identify and solve any issues, further cementing its transformation into a digital enterprise. Digitate collaborated with ENGIE to provide a layered solution for monitoring workload processes to create a \u201cblueprint\u201d of the company\u2019s entire batch system.\n\nNow, ENGIE spends less time and effort on manual monitoring. It has reduced impacts to downstream processes like billing and payment communications by 80%, realized a 95% reduction in customer complaint tickets, and prevented \u20ac5 million per day ($4.87 million) in revenue loss. For its successful digital transformation, powered by Digitate, ENGIE was named Order-to-Cash winner in the Hackett Group\u2019s 2022 Digital Awards.\n\nWith better business transaction monitoring as a part of their digital transformation, companies find business processes are well supported to generate cash, while transparency increases enterprise-wide. Financial institutions completing tens of millions of transactions daily can feel confident they can detect high-risk and suspicious activities.\n\nRegardless of industry, business transaction monitoring has a critical impact on enterprises with tangible results. For instance, utility companies monitoring hundreds of thousands of bills have peace of mind that delays can be quickly remedied or prevented from happening at all. Yet, to be successful, organizations working to become digital enterprises must have the right technology.\n\n\u201cWith the complexity of more and more systems in place, companies need tools to create visibility and confidence in IT to execute fast and protect the business,\u201d Tripathi says.\n\nWith its closed-loop solutions, Digitate helps companies monitor all events across their IT infrastructure to create an integrated view. Tools detect anomalies, investigate, and self-heal to correct. Routine activities are automated, doing away with repetitive manual tasks and freeing up valuable IT workers\u2019 time.\n\n\u201cWe close the loop and we resolve problems to create value proposition for our customers,\u201d Tripathi says. \u201cThey\u2019re able to do this in one-tenth of the time it would otherwise take them.\u201d\n\n\n\nTo learn more about better business transaction monitoring and how Digitate\u2019s products can help you, visit Digitate.