Tibco is categorizing the new software, called BusinessEvents, as "complex events processing" technology. The tool identifies and responds to interrelated operational events that happen within an organization. The technology can help companies improve their return from products, boost customer awareness, mitigate risk or improve overall agility, Tibco said.
Data on process changes is spread across a diverse number of systems at most businesses. In tracking such information centrally, Tibco hopes to appeal to companies engaged in business performance management initiatives, and to other organizations trying to get a handle on operational data.
BusinessEvents supports a "broad range" of messaging, Tibco said, including standards-based JMS (Java Message Service), the messaging element of the J2EE specification. The package's interface is designed to let users define the assets within their business, map out operational processes, and measure events' impacts on assets and processes as measured by key performance indicators.
Tibco declined to quantify the percentage of the software price that the company charges as an annual license fee. BusinessEvents starts at $100,000, with cost varying according to implementation requirements and project scope.