Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Business > How firms can elevate their monitoring strategy in 5 steps
    Business

    How firms can elevate their monitoring strategy in 5 steps

    How firms can elevate their monitoring strategy in 5 steps

    Published by Jessica Weisman-Pitts

    Posted on August 11, 2023

    Featured image for article about Business

    How firms can elevate their monitoring strategy in 5 steps

    By Guy Warren, CEO of ITRS

    It should come as no surprise that having a substantial amount of IT often means having lots of monitoring tools. Importantly, if one of these tools is facing issues, and cannot relay information from a crucial transaction application, how would your firm know? The health of your monitoring tools is as important as the health of the applications and infrastructure they monitor. This is why you need a monitor-of-monitors.

    Financial services institutions have several monitoring tools for their vast IT environments to ensure constant availability of their business services. This is done through checking the underlying technical services enabling the business at regular intervals.

    As IT services grow more complex, spanning from on-premises to the cloud, the potential for IT service disruption, the associated costs for businesses, increases. IT service disruption or outage can have severe implications on not just their revenues, but also the organisation’s reputation. If an incident disrupts service, firms will not only have to rebuild investor trust, they also may become susceptible to regulatory inquiries and fines.

    Why do monitoring services fail?

    There are a variety of reasons that monitoring services can fail, although what is abundantly clear is that IT services monitoring play a very important role in avoiding an outage. Whenever an outage does occur, it is likely due to one or more of the following:

    1. Service was not being monitored due to not being configured or an outdated model
    2. No alerts/too many alerts were configured even though monitoring was being done
    3. Alerts didn’t catch the attention of the operator or were lost among too many alerts, or a “sea of red”

    The above demonstrates exactly why it is critical that you monitor the health of the monitoring system itself in order to steer clear of it being one of the root-causes for an outage.

    5 ways to monitor your monitoring tools

    Drawing on the insights into the pitfalls of monitoring services mentioned above, here are five fundamental checks to ensure the robustness of your monitoring system.

    1. Are all your monitoring systems working?

    This sounds simple but firms need to apply checks on availability of monitoring for all services to ensure that they are working at all times. This can be done by applying a simple severity rule on sampling status of all services being monitored. It can be then checked through the sampling status that it is indeed being monitored.

    1. Ensure monitoring of Physical and Virtual servers:

    Modern IT infrastructures often consist of a mix of physical and virtual servers, each playing a vital role in delivering various services. Check if all the configured application services are covered in monitoring, whilst keeping in mind that there may be more than one application service on a single server.

    1. Ensuring certificate compliance

    Digital certificates allow firms to verify the identity of the sender/receiver of an electronic message to protect their website, network, or devices. Every certificate has an expiry date written into it. But if it has expired, there is often no way to tell until it is too late. There needs to be a way to check – and fix – digital certificates that are about to expire. Monitoring tools can help.

    1. Understanding the health of your monitoring system

    Effective monitoring alerts play a crucial role in guiding troubleshooting decisions when incidents occur. Based on monitoring alerts, various troubleshooting decisions like restarting a process, restarting a module or fail-over to backup are taken during incident. Consequently, it becomes important that the health status of the monitoring estate is available to all who take these decisions.

    This can be done by having a placeholder for the underlying monitoring health on the mission critical dashboards itself. Thus, the decision maker knows if they are relying on the correct monitoring data or if there is a break in monitoring services which may be resulting in the alert.

    Additionally, a one-second ticking date time also assures that the dashboard state is latest and not affected / screen freeze due to a local workstation issue.

    1. Keeping on top of reporting and audit

    Finally, it is key that the monitoring team publishes to all stakeholders daily / weekly/monthly reports on:

    • Lists of servers covered in monitoring and the metrics and regular expressions being monitored
    • The data which was evaluated to define an alert, including the data which didn’t breach a threshold
    • Lists of applications covered in monitoring
    • Lists of existing issues in monitoring
    • Lists of critical, warning alerts per application, per server
    • Lists of alerts disabled or snoozed
    • Lists of alert receipts configured (email & mobile).

    It is then expected from the stakeholders to pinpoint any gaps in the configured monitoring.

    Luckily, services and product do exist which can partner with mission critical financial enterprises to continuously mature the monitoring templates for the ongoing transition of enterprise datacenters to hybrid IT. Despite the rapid changes, the core principles of effective monitoring and observability have stood the test of time.

    With ITRS Geneos you can monitor and contextualize everything in one single tool, from legacy systems to cutting-edge new technology, from applications, servers, VMs, databases, middleware and cloud services to containers.

    Related Posts
    Cybersecurity as a Profit Engine: Turning Financial Services Security into Measurable Business Value
    Cybersecurity as a Profit Engine: Turning Financial Services Security into Measurable Business Value
    How Investability Helps Companies Navigate Transformational Times
    How Investability Helps Companies Navigate Transformational Times
    88% of UK and US organisations concerned about state-sponsored cyber attacks as national threat levels surge, IO research reveals
    88% of UK and US organisations concerned about state-sponsored cyber attacks as national threat levels surge, IO research reveals
    One in three SME leaders do not fully understand cash flow, despite 82% facing cash flow problems
    One in three SME leaders do not fully understand cash flow, despite 82% facing cash flow problems
    Inside the Company that Predicted the Remote Work Mega-Trend Before It Became Mainstream
    Inside the Company that Predicted the Remote Work Mega-Trend Before It Became Mainstream
    SEO Consultant Adrian Czarnoleski on How to Increase Business Value Before Exit
    SEO Consultant Adrian Czarnoleski on How to Increase Business Value Before Exit
    No SOC 2, No Deal: Why You’re Already Losing Clients - and What You Can Do About It
    No SOC 2, No Deal: Why You’re Already Losing Clients - and What You Can Do About It
    Jose Tolosa Guides Organizations Forward with Clarity, Purpose, and Integrity
    Jose Tolosa Guides Organizations Forward with Clarity, Purpose, and Integrity
    Reducing Freight Costs to Drive Global Trade Expansion
    Reducing Freight Costs to Drive Global Trade Expansion
    The Psychology of Music in the Modern Workplace
    The Psychology of Music in the Modern Workplace
    Revealed: Low-Cost/No-Cost Marketing Hacks For Results Oriented Businesses
    Revealed: Low-Cost/No-Cost Marketing Hacks For Results Oriented Businesses
    Finance teams still stuck in spreadsheets as manual processes stall digital transformation
    Finance teams still stuck in spreadsheets as manual processes stall digital transformation

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Business PostSporting legend reveals ‘secret sauce’ for great business leadership
    Next Business PostCommunications surveillance: A company-wide consideration

    More from Business

    Explore more articles in the Business category

    The Future of Remote & Hybrid Leadership: Leading With Data-Driven Foresight

    The Future of Remote & Hybrid Leadership: Leading With Data-Driven Foresight

    2025-2030: The Next Technological Innovations for Business

    2025-2030: The Next Technological Innovations for Business

    The CFO’s New Playbook: 5 Ways AI Is Redefining Finance with Insights from Rishi Oberoi

    The CFO’s New Playbook: 5 Ways AI Is Redefining Finance with Insights from Rishi Oberoi

    Revolutionizing Payments: Secure, Scalable, Sovereign

    Revolutionizing Payments: Secure, Scalable, Sovereign

    Why Trademark Abuse in Paid Search Is a Growing Risk for Financial Institutions

    Why Trademark Abuse in Paid Search Is a Growing Risk for Financial Institutions

    E-commerce Customer Service: Tips

    E-commerce Customer Service: Tips

    When to Automate Your Warehouse: The Tipping Point for Operations Growth

    When to Automate Your Warehouse: The Tipping Point for Operations Growth

    Hurt at Work? 5 Financial Facts You Need to Know

    Hurt at Work? 5 Financial Facts You Need to Know

    Against the Odds: Resilience in Consumer Subsectors Offers Prime Opportunities for Investors

    Against the Odds: Resilience in Consumer Subsectors Offers Prime Opportunities for Investors

    Empower Your Workforce With Financial Wellness This Labor Day

    Empower Your Workforce With Financial Wellness This Labor Day

    Build a brand that stands out with five simple strategies, from defining your UVP to using storytelling and building loyalty. Find out more.

    Build a brand that stands out with five simple strategies, from defining your UVP to using storytelling and building loyalty. Find out more.

    The Hybrid Office Playbook for Financial Services: How to Design Hybrid Offices to Optimize People and Spaces

    The Hybrid Office Playbook for Financial Services: How to Design Hybrid Offices to Optimize People and Spaces

    View All Business Posts