Transaction Processing System Essay

1058 words - 4 pages

Summary Transaction processing is the bottom line for any company and in many cases will determine if the company is successful or fails. The Internet is making the global market place very small and therefore is a major consideration when marketing a company. End users can now browse catalogs and buy products straight from retail stores, make airline reservation, trade stocks and make many other transactions right from their home computer. With the trend in on line transactions grown at an astounding rate any company that ignores the potential in on line transaction processing will undoubtedly get left behind in the business world.Pegasus Solutions is one company that is providing Internet Hotel Reservation capabilities for the Portland Oregon area. Pegasus is a leader in the field of electronic commerce and hotel industry transaction processing solutions. With this new on-line transaction processing capability the Portland area can now tap into the huge Internet market and will join the likes of such companies as Expedia.com, Travelstore.com, and Japan's Recruit Isize Travel (www.isize.com). Pegasus is a leading provider in end-to-end reservation distribution solutions to the hotel industry worldwide. More than 181 Web Sites have contracted with Pegasus to receive direct booking which will allow their customers to compare room rates, view hotel availability, view hotel photos and make room reservations over a secure connection. Pegasus processed an estimated $500 million in room sales through Internet hotel bookings in 1999 and will only grown larger as the on line market becomes larger.Another aspect of transaction processing is its integration with customer service marketing. E-commerce has changed the way retailers do business. In today's market it is a must to have on-line services to be competitive. While many companies fail in this arena, the ones that succeeded have set new standards in extending physical store presence. In today's retailing a comprehensive formula for adding, as well as keeping, customers is a must. "To fully realize the potential of multichannel retailing, companies must offer an exceptional customer experience, exceed customer expectations, and improve the customer relationship." With a multichannel retailing approach the customer is at the head of every point of interaction. The technology interface allows the customer to shop in a hassle free forum on line while processing their own transactions at their leisure.On-line transaction processing is also eliminating much of the paper that would normally be required and leading to economic and efficiency gains. The businesses that have added on line transactions save millions and consumers gain more control of their finances. Electronic billing is one of the fastest growing areas in business. The obvious advantage comes from cost savings from decreasing and eventually elimination mailing expenses. There is also savings from eliminating mailing time because the funds are...

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