Speedy, effective resolution is key, but it must occur within the constraints of the predefined rules and guidelines. Again, support for automatic, rules-based resolution and for manual intervention is required. Existing workflow tools and solutions must be fully integrated into the monitoring environment.

In addition to the speedy and effective resolution that your customers have come to expect of you, you will need support for the documentation that the Regulator demands of you. Reporting functionality is needed to document individual errors and their resolution. KPI metrics – average failure rate, mean time to resolution etc. – will need to be maintained and updated in real-time. The analysis of these metrics will provide valuable insights into process improvement initiatives, which implies that the reporting scope and detail will change over time. The available functionality needs to address the generic requirements of Compliance Regulations, such as demonstrating transparency for Sarbanes-Oxley, the automatic capture of audited and logged data for MiFID or the ability to provide detailed operational data for Basel II.