Managing applications in the world of Financial Services (FS) is different from any other industry. Regulations play a pivotal role in the development and support of banks’ business-critical applications, and these regulations often make application management more difficult. However, because many businesses depend on online transactions for their revenue, application performance and throughput has become more important than ever.
In this paper we’ll explore a new way to master the performance of FS applications by monitoring and managing their business transactions. Focusing on the performance and execution of transactions – that is, the way your users interact with your application – you can become more proactive and efficient at troubleshooting and managing application performance. As a result, you’ll save millions on revenue and productivity, and you will also gain the loyalty of your customers.
In this white paper, we propose that transaction-based application performance monitoring can help financial organizations increase revenue according to this formula:
(Faster transactions + Faster time to market + Reduced MTTR) * More stable platform = Higher profit
The speed of transactions and the stability of the system as a whole play an integral role in customer retention and, therefore, revenue. This means by speeding up transactions, you can increase your margins and improve your relationship with your customers. But before we get into the how of transaction-based APM, let’s look at the why – why is it that transaction speed (or rather, response time) has such a significant impact on profitability?