TIBCO Software unveiled version 1.1 of its product Business Studio at the Gartner Business Process Management Summit 2006. TIBCO Business Studio 1.1 aims to deliver enhanced modeling and simulation capabilities to speed the understanding and representation of complex processes within an Eclipse-based environment.

The new release intends to help users model and simulate process execution via real-world data to help ensure the model represents a true reflection of the business prior to deployment. Officials at TIBCO claim that Business Studio guides users through process lifecycle management and simulation easily, providing a more efficient and cost-effective way to control the processes and increase collaboration between business and IT. This also decreases the time-to-market of enterprise projects.

“Business process management solutions offer organizations an opportunity to take ownership of their processes and to manage them independently of IT,” said Jeff Kristick, senior director, Product Marketing, TIBCO. “Providing business users with the right tools to quickly model, simulate and execute their processes increases business flexibility and also helps to cut costs and ensure the smooth integration of those processes into existing IT infrastructures.”

New software features in the latest version include:

• Service Level Agreement (SLA) Indicators – Users can specify thresholds for activities and resource utilization to ensure processes comply with all aspects of SLAs
• Advanced Simulation – Users can fully simulate their processes and create simulation scenarios. By comparing results across scenarios users can better understand the true business impact of any changes, thereby improving decision making
• Rapid Process Design - A library of sample processes is provided from different industry sectors, as well as an import wizard to import process models from other modeling tools to shorten process design time