Business event management is the practice of incorporating business logic into labeling events, communicating events and handling events. In software systems, events are created, prioritized, and managed by software developers who often have no inkling of business priorities and concerns; business event management takes a different slant on traditional event management. As such, business event management requires a profound interaction and cooperation among business stakeholders as well as software development and IT management professionals when designing, implementing, and maintaining computer systems and processes.
Because of the difference between the perspectives of the individuals involved, insignificant events from a software developer's or IT manager's perspective can result in significant or serious potentials for business loss, damage to reputation or customer relationships or impacts on productivity and earnings. A classic example is the failure of a low-level server used to process customer leads. Though such a system's failure for a short period of time might not trigger SLA conditions or signal serious potential trouble, resulting losses of major new business could have a profound impact on the bottom line.