A performance monitoring and management system is provided for monitoring both server side and network side performance parameters of individual distributed transactions. The system uses correlation data which is transferred over a computer network to identify corresponding sender/receiver parts of a distributed transaction. Both server side tracing data and correlation data is transferred to an external correlation and monitoring server that creates per transaction end-to-end tracing data. Network probes are installed in the network infrastructures which monitor network conditions, like e.g. data transferred. Those network probes are configured in a way to identify and extract the correlation data used by the monitoring system and to tag created network measurements with this correlation data. Those tagged network measurements are then used to augment the per transaction end-to-end tracing data with corresponding network measurements.