For a variety of reasons, ongoing monitoring has become an essential practice to undertake in any organization.
In reality, it assists you in detecting harmful attempts ahead of time, monitoring the performance of your site and apps, tracking transactions, and much more.
Failure to implement it may result in significant financial and legal consequences, ultimately damaging your brand’s reputation.
As a result, if you want to learn more about it, keep reading. In this post, we will discuss ongoing monitoring and why it is vital for the health of your organization.
Let’s get right to it.
What is ongoing monitoring?
Continuous monitoring ensures that business operations are updated and in line with the risk assessment performed at the time of onboarding. Many businesses automate this process to check changes in PEP status, sanctions, and negative publicity on a regular basis.
What does ongoing monitoring involve?
The following processes are part of ongoing monitoring:
- Recordkeeping and identification of the purpose and nature of shifting business partnerships.
- Reassessing client risk based on business activities, transactions, and geography, and the PEP and Sanctions databases are updated.
- Determining if the client’s profile or behaviors are consistent with the KYC and risk assessment.
Why do you need ongoing monitoring?
Here are some of the reasons why you should adopt ongoing monitoring in your business.
- Avoid helping help launder money
AML transaction monitoring is a procedure used to guarantee that businesses do not contribute in money laundering.
You should be able to detect red flags if you monitor transactions over a particular amount before you unintentionally assist in money laundering.
The anti-money laundering mechanism relies heavily on transaction monitoring. Government authorities define the levels at which a transaction must be scrutinized for anti-money laundering (AML), however you may also monitor your own transactions at all times and/or for all transactions.
- Prevent hacker attacks
Detecting potential hacker attacks might be pretty difficult if you don’t put ongoing monitoring in place. Furthermore, if these assaults verify, you will face severe financial and legal penalties.
If you set up your system to detect access from outside sources, you will be able to act as soon as those malicious hackers enter your network. You’ll be able to boot out people trespassing on your network before they can cause much damage if you get fast warning. You can also see what they accomplished more clearly and reverse their work more quickly. Given that they are aiming for the lowest possible score, there is unlikely to be much for you to clean up on the network.
- Track user behavior
Continuous monitoring may also be used by IT organizations to track user activity, particularly in the minutes and hours after a major program update. IT operations teams may employ continuous monitoring tools to see if the upgrade had a good or negative impact on user behavior and the overall customer experience.
- Analyze operational performance
Continuous monitoring can also be used to keep track on an application’s operational performance. A continuous monitoring software tool can assist IT operations analysts in detecting application performance issues, determining the source of the problem, and implementing a remedy before the problem results in unexpected application downtime and revenue loss.
Benefits of conducting ongoing monitoring
Now that you know why continuous monitoring is vital for your company, it’s time to learn about the advantages of using it. Here’s a rundown of the most important:
- Determine possible threats to your company’s financial well-being and reputation.
- On a daily/weekly/quarterly basis, be alerted of any negative media or additions to a watchlist so you can make an informed decision about your risk.
- Prevent the escalation of any risks and the resulting financial loss, especially in high-risk markets.
- Prioritize high-risk consumers and adjust risk levels in response to concerns discovered through automated monitoring.
- For your data-driven choice, have a granular understanding of the risk areas.
- Add flexibility to your compliance program by including the names of clients who will be watched and updated on a regular basis.
- Eliminate manual and outmoded procedures to get a quick and cost-effective approach to compliance.
7 Best continuos monitoring tools in 2022
Many products are available on the market to assist you with automating your ongoing monitoring operations. Here’s a rundown of the best ones for 2022.
From SEON’s website – https://seon.io/
SEON software has a number of fraud detection capabilities that can assist businesses in lowering the losses and expenses connected with fraud.
You can get transparent and accurate fraud scores in seconds with its AI-driven solutions. It also lets you set the thresholds for barring suspected users and controlling false positive rates manually as needed.
This software works well with popular programs and platforms like Zapier, HubSpot, Salesforce, and others, allowing you to automate your processes.
You may enhance your return on investment by only paying for what you use using its pay-as-you-go pricing.
From Dynatrace’s website – https://www.dynatrace.com/platform/
Dynatrace is an all-in-one software intelligence platform that offers a wide range of solutions for ensuring the health of your organization at all times.
Monitoring, run-time vulnerability detection, real-time business insights, impact analysis, and other services are among its offerings.
To deliver answers and intelligent automation from data, the platform integrates wide and deep observability, continuous runtime application security, and powerful AIOps. This allows innovators to update and automate cloud operations, distribute software more quickly and securely, and create faultless digital experiences.
From Datadog’s website – https://www.datadoghq.com/
Datadog is a cloud-scale application observability solution that monitors servers, databases, tools, and services using a SaaS-based data analytics platform.
Datadog combines all of an organization’s performance data so that teams can see the links between services and components, communicate using real-time data, and rapidly pinpoint the source of performance issues.
Datadog enables teams to start gathering data from all their systems in minutes with over 500 vendor-supported connections and simple instrumentation for bespoke apps and business logic.
- New Relic
From New Relic’s website – https://newrelic.com/
New Relic is a live monitoring tool that allows you to keep track of and evaluate any part of your internet business.
The tool offers a variety of options, including browser monitoring, application monitoring, mobile monitoring, and network monitoring.
It seamlessly connects with over 470 apps to provide you with the most complete and exact analysis and performance possible.
Also, it enables you to maintain a very high uptime, resulting in increased customer satisfaction and productivity.
The dashboard provides a comprehensive view of all apps and assists you in tracking their metrics; its cloud-based infrastructure enables us to comprehend and monitor all elements of our apps in one location.
- ManageEngine OpManager
From ManageEngine OpManager’s website – https://www.manageengine.com/
ManageEngine OpManager is an easy-to-use, and affordable network monitoring solution.
It keeps track of routers, switches, firewalls, load balancers, wireless LAN controllers, servers, virtual machines, printers, storage devices, and everything else with an IP address and a network connection.
ManageEngine OpManager keeps a constant eye on the network and gives you complete visibility and control over it. You can simply dive down to the underlying source of a problem and eradicate it before operations are harmed.
It monitors health and vital metrics such as packet loss, latency, speed, errors, and discards, and analyzes performance bottlenecks, thanks to over 2000 built-in network performance monitors.
From AppDynamics’ website – https://www.appdynamics.com/solutions
Another excellent continuing monitoring tool that deserves to be considered among the finest is AppDynamics.
It offers a variety of monitoring options, including cloud monitoring and AWS monitoring, to help you examine application performance in real time and detect malicious threats quickly.
AppDynamics is a great tool for keeping track of infrastructure, such as servers, databases, API endpoints, and business processes.
It’s easy to set up AppDynamics; all you have to do is install a client on the infrastructure we want to monitor, and it’ll connect to the application, such as Spring Boot, by just specifying the level.
When triggers are activated, it allows you to define warnings and exceptions, as well as actions to be done, such as sending emails or running scripts.
- Sensu Go
From Sensu Go’s website – https://sensu.io/
Sensu is a full-featured monitoring and observability platform.
Sensu’s end-to-end observability pipeline allows you to gather, filter, and convert monitoring events before delivering them to your preferred database.
Sensu works seamlessly with your existing platforms and tools to minimize data silos, increase observability, and reduce multi-cloud tool sprawl.
Continuous monitoring is an important technique to incorporate into your company.
It may assist strengthen your business health by avoiding hacker assaults, analyzing operational effectiveness, and much more, as demonstrated throughout this blog article.
We also listed some of the best ongoing monitoring tools in 2022 that can assist you in doing continual monitoring and automating the majority of the process.
Thank you for taking the time to read this blog post. Hopefully, you found it informative and helpful.
If you want to read more, please check out this article on e-Commerce security: things merchants should know and follow.
Flavia Silipo is a skilled SEO copywriter and digital marketing specialist with over two years of experience. You can find her on LinkedIn.