transaction

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Related to Business process: Business process modeling, Business process management, Business process reengineering

transaction

noun accomplishment, achievement, act, action, activity, administration, adventure, affair, commission, completion, consummation, deal, deed, direction, effectuation, enactment, enterprise, execution, exercise, exploit, management, measure, negotium, operation, performance, proceeding, process, purchase, sale, undertaking
Associated concepts: arms length transaction, transacting business, transactional immunity
Foreign phrases: Res inter alios judicatae nullum aliis praejudicium faciunt.Transactions between strangers ought not to injure those who are not parties to them.
See also: act, agreement, business, commerce, commission, contract, course, deal, event, exchange, interchange, occurrence, operation, proceeding, process, sale, trade, treatment, undertaking

TRANSACTION, contracts, civil law. An agreement between two or more persons, who for the purpose of preventing or putting an end to a law suit, adjust their differences by mutual consent, in the manner which they agree on; in Louisiana this contract must be reduced to writing. Civil Code of Louis, 3038.
     2. Transactions regulate only the differences which appear to be clearly comprehended in them by the intentions of the parties, whether they be explained in a general or particular manner, unless it be the necessary consequence of what is expressed; and they do not extend to differences which the parties, never intended to include in them. Id. 3040.
     3. To transact, a man must have the capacity to dispose of the things included in the transaction. Id. 3039; 1 Domat, Lois Civiles, liv. 1, t. 13, s. 1; Dig. lib. 2, t. 15, l. 1; Code lib. 2, t. 4, 1. 41. In the common law this is called a compromise. (q.v.)

References in periodicals archive ?
With improved productivity becoming a benchmark for success in today's challenging economic environment, business process management (BPM) is a critical business function.
Appian is a leading provider of business process management (BPM) technology that helps organizations design, manage, and optimize their business processes.
Even when the market exits the current downturn, demand for business process outsourcing likely will continue.
We need to get all participants in a business process to collaborate on the high-level process goals so we can prioritize and determine the ROI of our projects, even if we end up deciding not to automate them," said Jeff Ward, Manager of General Financial Systems at Lee Memorial Health System.
Detailed information and "first look" product demonstrations of Appian Anywhere will be unveiled at the Gartner Business Process Management Summit February 26 - 28 in San Diego, California where Appian will be a Premier Sponsor.
Latest Release Sets New Benchmark for Business Process Management Suites
Its BAM portfolio includes four solutions, BusinessVision, ServiceVision, WideVision and OmniVision which enable companies to achieve operational excellence through business process compliance monitoring, risk control and cost reduction.
TeamWorks includes a rich, cohesive Eclipse-based modeling environment for building all aspects of a business process, a highly collaborative web-based work portal for process participants, and provides industry-leading optimization technologies for analyzing and improving business processes.
Mark Toon, President and CEO of EquaTerra, said, "The trend toward utilizing a complex blend of outsourcing, offshoring and internal shared services creates an increasing requirement for end-to-end business process performance monitoring.
OpenConnect's valueNow(SM) method is based on automated business process discovery, which quickly provides a detailed process model allowing short, targeted business process improvement initiatives.
In a Gartner report titled, "Business Process Management as a Discipline," it was stated that "BPM is a management discipline that provides governance in a business process environment with the goal of improving agility and operational performance.
Based on Corticon's Business Rules Management System, this industry-first new product is a comprehensive integration solution for business process management and business rules modeling.

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