With a finance reform bill winding its way to the president's desk, IT organizations can be certain that more scrutiny of transactions surely will follow.
The problem, however, is that many IT organizations are not sure what transactions are moving across which applications or systems. That lack of transaction transparency makes complying with any new regulations coming from that legislation more difficult than most people would like to admit.
Charley Rich, vice president of marketing and product management for Nastel Technologies, a provider of business transaction management (BTM) software, says the implications of the finance reform bill go well beyond the financial services sector. As financial services firms start to more closely track transactions, that same level of transparency will come to be expected across a wide range of vertical industries.
To help enable that, Nastel is making a version of its software available as a virtual appliance, which Rich says partners and customers will use to deliver BTM as a cloud computing service to a broader array of customers.
As noted previously, many companies are focused on business process management when the company as a whole simply wants more visibility into specific transactions. And despite all the grumbling about the cost of complying, most regulations wind up helping executives better understand what is actually happening in the business at any given time.
So while the finance reform legislation is primarily intended to protect investors and the economy from the excesses of Wall Street, it might do more to protect business executives from themselves.