SAP Process Observer for Built-In Processes (POB) allows organizations to monitor and optimize core processes based on SAP Business Suite’s built-in business object events. It's been around quite a while - Since 2011, I believe. The functionality it provides is somewhat close to SAP Event Management but there are major differences in functionality and also in the scope of the process that each covers. Comment on the blog if you want more details on the differences. Below is a set of documents that are available on SCN that will help guide you through understanding what POB is and how to put it in...
- An introduction to Process Observer is given in the following presentation: Monitoring and Analyzing Business Suite Processes using Process Observer
- Detailed usage and configuration information about Process Observer is given in:Process Observer In-Depth Workshop
- See how Process Observer is positioned in the context of SAP's overall BPM offering: SAP Offering for Business Process Management
- Find a Comparison of Business Process Monitoring / Business Process Analytics (BPMon/BPA) and Process Observer (POB) and how you can commonly use them
- View the recording of PMC212 "Big Picture Process Orchestration from an Application Point of View" from TechED Las Vegas.
- A short live demo of Process Observer is available at Process Observer Demo SAP Foundation Day 2012.
- The following demo of the SAP Demo Store shows the integration of Process Observer into SAP Master Data Governance to monitor the master data creation and distribution process cross-systems. To run the demo you need to be logged on to the SAP Demo Store