Yes, there is. Buy a copy of ApexSQL Log from ApexSQL.com. It is my VERY strong opinion that every production sql server environment should have the functionality this product provides on hand 24/7.
DISCLAIMER: I have a very close relationship with ApexSQL. I use and recommend their products to my clients. If you care to you can get a discount (and I can get a small remuneration) if you tell them TheSQLGuru sent you.
Kevin G. Boles
SQL Server Consultant
SQL MVP 2007-2012
TheSQLGuru at GMail