Business Transaction: Processing System

Business Articles | March 1, 2010

The meaning of a business transaction processing system

A Business Transaction Processing system is a cast that supports a business in the delivery of its business transactions. A business transaction may act for since short whereas a phone make apparent to the bank seeing an report balance or through enthusiasm seeing a mortgage (from the prime mortgage intention to near luxury seeing sent after the move ahead price) again conceivably parallel in that want as the abiding affinity with a bank (covering multiple accounts used now various purposes). Business transactions may have hierarchical relationships (relating since the relationships between the business transactions represented by a check to the business transaction represented by a bank invoice).

Each type of business transaction may have multiple states before it is washed-up. At each stage prestige its lifecycle valid may generate various measurements (cash or different) that may exemplify used by management/stockholders/regulators to monitor and/or control the business.

A BTPS should have the ability to process work flows. Each state of the business transaction can be represented by a step in the work flow. Each step in the work flow may be composed of the following phases:

Work Planning - The periodic process of planning for future work. This often involves review of historical work levels and/or the results of Work Plans from "upstream" processing areas that generate work for this processing area.
Work Receiving and Arrival Reporting - The process of receiving and getting control over newly arrived work. This often includes notifications to processors of work waiting processing.
Work Monitoring - Review all available work, prioritization and scheduling the work to be done.
Work Processing and Recording - Doing the work and recording the results of the work.
Work Routing - Based on the change in state to the work, pass the work along to the next stage in the processing.
Work Evaluation - On a periodic basis, analyze the work. The information from this step is often the input to the Work Planning phase (step 1 above).
The work flow component of the system should allow the rules that define sequence of steps (dependencies) and the rules that define the processing to be performed at each step to be easily modified by the users. (This process should also be a work flow.)

Article Tags: Processing System, Business Transaction

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR

James is an expert in writing about legal forms and documents that may help you when your in the search of the right legal document. He writes many articles about forms ranging from, power of attorney forms, landlord tenant forms, and almost any legal form that your searching for.