Alchemy Eye is a system management tool that continuously monitors server availability and performance. In the event of network errors, Alchemy Eye can alert the network administrator by cell phone or pager BEFORE problems get seriously out of hand. This helps protect your company's data and reduces the likelihood of costly network failures. If a server goes down, Alchemy Eye automatically notifies the network administrator and writes a detailed log file. Network Monitor. Computer networking. Alchemy Eye is a network management tool that checks the server accessibility and server state, and sends alerts via email, cellular phone, pager, ICQ in case of any network problems.