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kelseybarton

What is Point of Sale (POS) Systems? Definition of POS with Examples - 0 views

  • A point-of-sale (POS) transaction is what takes place between a merchant and a customer when a product or service is purchased, commonly using a point of sale system to complete the transaction.
  • In its most basic definition, a POS system is a combination of POS hardware and POS software to create a POS machine for processing a transaction and payment.
  • a POS terminal is the electronic equipment performing the sales transaction and processing the credit card payments. Used in most storefront businesses, a computer terminal combined with the POS software helps to manage everyday sales transactions and operations.
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  • The hardware components bundle will typically include a POS terminal, receipt printer, credit card reader, cash drawer, barcode scanner, kitchen or bar printer (for restaurants), and possibly even an on-site computer server for older legacy systems
  • The primary reason you need a point of sale for a restaurant is to accept cash and credit card payments. In addition to receiving payments, you need to be able to track all your financial and tax data.
  • A restaurant management system is recommended if you’re a restaurateur and want to be competitive in the business. Many types of restaurants need to utilize a POS like full-service restaurants, quick-service restaurants, fast food, take-out only, cafe’s, pizza shop, etc
  • Recipe costing is just one example of features a restaurant computer system can provide. Some other features and services you’re going to need potentially are restaurant marketing, customer management, online ordering, loyalty program, server sales performance, new versus repeat customers, invoice purchasing, menu performance, employee management, and sales reporting.
  • The only negative to implementing a new restaurant management system is the training time and challenge of learning new software. But that’s only temporary,
  • The main features to look for in bar software is preauthorization (or “preauth”) of payments for tabs management, bar and liquor inventory and control, speed functions like reordering rounds, bar prep printing, fast checkout, and quality 24/7 support. For the reporting side, you’ll want to see your labor costs compared to sales, product reports, and all your sales and tax reports.Additional register features to consider for nightclub and bar point of sale software is employee management, inventory management, customer loyalty, recipes, tab management, quick reorder rounds, and quick customer checkout. Reporting is critical as well to keep track of your food and beverage taxes. Also, you’ll want to have online access to see your labor costs and sales reports
  • Retail businesses can have some particular requirements and features that other programs will not have. They can have retail shop features such as color and size matrixing, inventory tracking, employee commissions, gift registry, customer database, layaway, and purchase orders
  • If you’re not processing an enormous amount of volume and speed isn’t as critical (like in a restaurant or bar), then a mobile POS could be just the answer to save you some money
  • A cloud-based POS system is a point of sale platform that stores information on the cloud. Cloud-based systems typically don’t record much information on your terminal device. Instead, all data is stored in the cloud and synchronized across multiple terminals.
  • Nail and hair salon POS systems can sometimes crossover for other business types like barber shops, gyms, fitness clubs, beauty schools, massage parlors, pet grooming, tattoo parlors, to name a few. That is because these other business types will especially require an appointment calendar and may need retail functionality with inventory control, and not every software program has those features
  • In this POS guide, we discussed everything related to POS systems, including the meaning of POS, the definition of mPOS, what the difference is between a cash register and POS, how a point of sale system work, and the different types of systems with examples
  •  
    (1 of 3) POSUSA had originally published an article in 2017 about the definition of Point-of-Sale (POS) and a guide to understanding POS more in depth. This article was updated in May of 2021 to represent the ongoing challenges in the hospitality industry due to COVID-19. The article begins by defining a POS transaction as "what takes place between a merchant and a customer when a product or service is purchased, commonly using a point of sale system to complete the transaction." The original idea of a POS system was that of a cash register, but what is in the system make up today is far more complex. A POS system and a POS terminal are one in the same, as the terminal is the physical piece of equipment that processes the information for the POS. The system is composed of many different components as with any piece of technology. "The hardware components bundle will typically include a POS terminal, receipt printer, credit card reader, cash drawer, barcode scanner, kitchen or bar printer (for restaurants), and possibly even an on-site computer server for older legacy systems." These systems continue to make advancements that evolve with the times and can keep up efficiently with the business they are working with.
  •  
    (2 of 3) The article continues on to discuss the many different types of POS systems and how they can be used for different types of businesses. The restaurant POS system, for example, is the most complex POS system and is the most commonly seen system in the industry. Through the restaurant POS, a business can have a restaurant management system, which helps them run the business efficiently through features such as recipe costing, customer management, reporting, and many other features discussed. Bar, nightclub, retail, small business, salon, and spa POS systems all have very similar features, but are catered to each businesses specific operational need. Cloud-based and mobile POS systems are also discussed in the article as a way to store all POS information in the cloud. The advantages of mPOS were discussed in depth as this can be accessed through an application, making mobility much easier in our ever-advancing technological world.
  •  
    (3 of 3) The article also provided an introduction of how POS systems work, as a basic understanding is necessary when considering purchasing a system. Through understanding how the POS system works, we see that a POS transaction is "simply any transaction that occurs within a business." POS payment is "when a customer and merchant exchange products or services completing a POS transaction aka point of sale purchase," which can sometimes be referred to as point of purchase, or POP. Finally, the article discusses how POS systems have played a role during the pandemic. While online POS systems have been used for many years to keep businesses on their feet, during the current state of the world this has become even more necessary. The article discusses how important it is to keep the payment process simple, yet secure so that the business may rely on this as a way to make income and customers can enjoy a seamless experience. This article does a very good job of explaining in-depth what a POS system is and how it is relevant to every line of business in the hospitality industry. As online sales continue to grow and as the state of the world remains uncertain, POS system popularity will only continue to rise and advance to create the best possible experience for both the businesses and consumers involved.
anonymous

article_32_vol_5__1_.pdf - 1 views

shared by anonymous on 05 Jun 20 - No Cached
  • Much has changed in the business world since the birth of technology and the subsequent discovery of the world wide web (www) in 1989.
  • Much has changed in the business world since the birth of technology and the subsequent discovery of the world wide web (www) in 1989.
  • According to South African Tourism (2015), more than 180 million bed nights were sold in 2015, making the hotel industry an attractive client of e-commerce.
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  • suppliers and customers meet in a virtual space to perform transactions using Internet technology as it has the potential to add substantial value to business operations and competitiveness of a business.
  • scene of the famous lion-buffalo-crocodile battle watched more than 75 million times on YouTube)
  • e-commerce has not only
  • changed the way business is conducted, but has increased the revenue of organisations tremendously, in particular that of the travel and tourism industry.
  • The top three visited travel sites include Booking.com, Expedia.com and Hotels.com.
  • survey conducted in Hong Kong of 249 leisure travellers, 80% searched for hotel information using Web tools, with more than half making their bookings through hotel host websites or third-party websites
    • anonymous
       
      They wouldn't be able to gather this information on technology unless they had the proper technology to do so.
  • right: © 2016 A
  • understand how the various online sales platforms interconnect.
  • the internet consumer of today assumes all businesses worthy of trade have a website;
  • it is not enough for hotels to rely on their web pages alone for room sales.
  • An aspect of e-commerce revolves around how social media affects a hotel’s online presence, and how it is used as a tool for gaining a notable share in the e-commerce market for hotel room sales.
  • In an increasingly competitive market place, tourism products require an effective distribution strategy for a firm to reach its target tourists and local markets
  • E-commerce mainly helps in the generation of leads, presenting information about the tourism product to the customers, and facilitating the transaction process electronically
  • The Internet is an ideal platform for the tourism industry
  • 1) they are intangible, 2) their production and consumption cannot be separated, 3) they are perishable, and 4) they are seasonal
  • online travel booking is the specific business-to-consumer (B2C) transaction in the context of online tourism
  • Social commerce should be considered broader than the act of sharing shopping experiences with others, as it has challenged and redefined traditional vendor-push business models and marketing strategies (Gonçalves Curty & Zhang, 2013:260-261).
  • E-commerce allows the tourism consumer to purchase tourism products and packages online and act as his or her own travel agent by building personalised travel packages and eliminitaing the need for traditional processes
  • From a hotel business perspective, e-Procurement is a good example of the innovative use of technology in the lodging industry
  • 2B
  • E-procurement can be defined as a business-to-business (B2B) tool that supports the buying process
  • implementing e-procurement has become an important enabler for achieving a flexible and responsive supply chain.
  • An example of e-procurement or a business-to-business transaction would be a hotel selling its rooms to OTAs on a wholesale or commission basis.
  • e-commerce in the modern tourism and hospitality industry is important because the Internet is the lowest cost hotel-booking channel, most travellers research hotel reservations on the Internet, and social media and online hotel reviews are an increasingly important decision factor.
  • there are three most common retail sales channels – brick-and-mortar, catalogue and the Web – across the elements that characterise the shopping and business ownership experience
  • Travel services are categorised into Accommodation and Airlines, as these two components constitute a large part of the hospitality industry.
  • This research study is focused on room sales, therefore the distribution channels used for this purpose will be explained, namely, Online Travel Agents (OTAs) and merchant sites.
  • Today, e-commerce focuses on profitability.
  • challenge for retailers is to attract the attention of the digital natives (consumers who have grown up in the digital world) and persuade them to spend more, as well as to attract digital immigrants (consumers who are presumed to resist new technology or at least have trouble accepting it) to this way of shopping.
  • Social media can increase communication for a website and create brand awareness.
  • a social network is a virtual community, profile site or website on the Internet that brings people together in a central location, to talk, share ideas and interests or make new friends.
  • platforms such as social network services (
  • is one of the main reasons for advancement in Web 2.0 technologies and developments in e-commerce.
  • social commerce providers started their businesses by combining group-buying with selling discount coupons offered from their partners over the Internet.
  • Although the statistic does not identify the specific modes used to make room reservations, it can be presumed that electronic sales made up a considerable percentage as sales method.
  • consumers have become the storytellers and are the new brand ambassadors.
  • social media is driven by word-of-mouth and if done properly can improve positioning in the market
  • e-commerce is still new. Getting (2007), maintain that most online communities are free and are growing at a rapid rate.
  • An online rating site is a system of ranking places, products and services via customer reviews based on past experiences.
  • TripAdvisor is classified as a meta-search engine, which is defined by Webopedia (2015) as a search engine that queries other search engines and then combines the results.
  • the prevalence of traveller reviews had a significant impact on the online sales of hotel rooms and that hotel managers should seriously consider the impact that online reviews of their hotels on these websites have on the consumer.
  • Online channels allow the potential customer to see the location details and compare hotel prices easily, as well as read online reviews which have a wider reach and are less ephemeral than traditional word-of-mouth reviews.
  • Figure 1 further illustrates the direct booking channel guests have to hotels via the Internet.
  • Reservation System (CRS) in the 1960s to the Global Distribution System (GDS) in the 1980s and the advent of the Internet in the early 1990s, the tourism industry has always been confronted with the rise of new technological developments
  • rapid growth of online travel agencies caused traditional indirect distribution channels through tourism intermediaries to decline
  • The Internet has become an integral part of everyday life. In order for businesses to be sustainable, they need to have an e-commerce presence
  • it is a service that can be readily offered to global markets and it can become a trade platform joining suppliers and buyers from around the world
  • with technological advancements, firms are increasingly reaching out to their customers through a variety of channels such as e-commerce, m-commerce and brick-and-mortar establishments. Heinemann and Schwarzl (2010:1) contend online retail today is taking place at a higher level of evolution than in the initial years of e-commerce.
  • there are technical and non-technical aspects associated with e-commerce
  • How can hotels compete in a digital world and what will their future business models look like?
  • an intranet as a private network, operated by a large company or organisation, which uses internet technologies, but is insulated from the global Internet by a firewall (a system designed to prevent unauthorised access). An extranet, however, is an intranet that is accessible to some people from outside the company
  • studies in the tourism and hospitality arena have indicated that ICT is a tool particularly suited to this industry for a variety of reasons.
  • The Internet has become an integral part of everyday life. In order for businesses to be sustainable, they need to have an e-commerce presence
  • The hospitality industry is an ideal trade for making use of e-commerce and the social web.
  • Reputable booking sites such as Booking.com, Expedia.com and Tripadvisor are visited by over 300 million online visitors each month.
  • Internet users have become demanding in their expectations of company presence online.
  • “if I can’t find enough information on your hotel it’s probably not a good choice.”
    • anonymous
       
      BOTTOM LINE
  • E-commerce is expected to reach global sales of $1.5 trillion by 2018 (Statista, 2016), and therefore hotels in CT will need to increase their presence on the internet, not only on booking sites, but also on the social web in order to receive a sizable share of electronic sales.
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    This article talks about where the internet has brought us in the business world and where it is taking us. There are other articles included to support the idea that hospitality businesses need the internet inorder to successfully reach out to and market toward customers. Along with the idea that if a business does not have an online presence,that, is an untapped stream of revenue. As well as the combined business efforts that go into delivering a flawless product to its customers via the web. There were two case studies that took place in order to understand the role e-commerce has played and will potentially play in the hospitality industry.
Jing Huang

Property Management System- The Future of Hotel Industry - Tourism and Hospitality - Zi... - 1 views

  • They work completely on the web and are based on the cloud.
  • It is the age of the Internet, the age when many businesses solely run on the Internet. From marketing to reaching new people, there is a lot that can be done with the help of this medium.
  • one of the major boons of Internet on the hotel industry has been the web based property management systems. Unlike previous applications which would burn a hole on the pockets, these online hotel software are user-friendly and do not need any additional hardware or software expenses. They work completely on the web and are based on the cloud.
    • Juan Du
       
      "Property Management System" play an important role in Hospitality management. Because the Internet plays a major role in improving the sales and customer relationship. The hotel need collect data to analyze the market and make the market plan. Property management system have a lot advantages. It is easy to make a reservation, the system can control the over booking. Use this system can keeping a check on the add-on services. Also PMS has its own system to operate the whole things. PMS is able to provide some basic function: enable guests to make reservations, enable guests to check-in/register when they arrive and check-out/pay when they leave, enable staff to maintain guest facilities. And it is easy to use, especially for employees.
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  • Property Management System- The Future of Hotel Industry
  • Property Management System- The Future of Hotel Industry
  • Property Management System- The Future of Hotel Industry
  • It is the age of the Internet, the age when many businesses solely run on the Internet. From marketing to reaching new people, there is a lot that can be done with the help of this medium
  • Central Reservation System: One of the greatest advantages of using an online hotel software is that you do not have any more headaches about reservations.
  •   Numerous Point of Sale: Keeping a check on the add-on services your hotel provides can easily be done with the help of the numerous points of sales.
  • Sales and Marketing Console: To help popularize your hotel and make it known to people from across the globe, many PMSs have a dedicated sales and marketing console.
  • Travel Agents and Corporate Clients:It is also important that you properly deal with travel agents and corporate clients as they play a very important role in bringing in more guests to the hotel.
  • Connected to 1000s of Travel Portals: These property management systems  help you get connected to many travel portals like Travelocity, Tripadvisor and Expedia helping you reach more people. 
  •  
    This article particularly caught my attention because it points out the major advantages of web-based PMS, but it does not mention the risk of transfering such sensitive guest information over the unsecure and unregulated Internet. Surely there are great cost-related and operational advantages to web-based PMS and that alone often motivates hotels to upgrade in that general direction. Afterall, the reason why the hotel is operated is to generate revenues. However, is risking the identity of thousands of your guests worth the money you will save? That is what this article does not cover. As the title points out, web-based PMS is the future of the industry, but securing the identity of the biggest drivers behind all revenue for your hotel is arguably more important. Is the risk worth the reward? I believe the Internet needs to become a more secure highway of information before the industry can fully embrace this new technological advancement. My thoughts on considering an upgrade to web based PMS: Research and proceed with caution.
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    Karl- Valid point in saying is the "risk worth the reward", with all the viruses, glitches and hackers sensative information floating around in cyber world ready to be attacked and stolen. I feel its up to the cloud computing companies to set the security parameters to run their systems and for the industry to enforce them, so that we can embrace the growth of technology in hospitality.
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    This article shows a lot of advantages of using online hotel software. Better Reservation system can be found on a cloud based PMS. More factors of hotel can come out to be a famous feature when they all come online. Much easier for a hotel to deal with travel agents and corporate clients when they using a cloud-based PMS.  The cloud-base PMS can bring the hotel to more travel portals which will lead to more clients. 
  •  
    This article focuses on the numerous advantages of a Property Management System. It summarizes the fact that it makes a business more proficient and how a company can save by not spending money on additional software or hardware expenses. The main benefits that this article gives attention to is the fact that it assists in the reservation process and point of sale process, helps market and target the correct people, positivity deals with travel agents, and connects to several travel portals. All in all, a Property Management System is a great tool and advantage in the hospitality industry because it facilitates in all operations and helps companies with daily challenges.
  •  
    The hotel industry is crossing over to web based PMS and this article states that because it works off a cloud its less headaches and more user friendly. There are many reasons why a web based PMS can be beneficial and why the hotel industry is swithcing over. It can be used for multiple properties and reduce double booking. Another great feature is you can have numerous points of sales and it all interconnects. This is the future of our industry.
  •  
    "Property Management System" play an important role in Hospitality management. Because the Internet plays a major role in improving the sales and customer relationship. The hotel need collect data to analyze the market and make the market plan. Property management system have a lot advantages. It is easy to make a reservation, the system can control the over booking. Use this system can keeping a check on the add-on services. Also PMS has its own system to operate the whole things. PMS is able to provide some basic function: enable guests to make reservations, enable guests to check-in/register when they arrive and check-out/pay when they leave, enable staff to maintain guest facilities. And it is easy to use, especially for employees.
  •  
    This article indicated the importance of Internet for hotel industry and also assumed that web based property management systems will widely used in future. The author listed some advantages of web based property management system:1) Central Reservation System: One of the greatest advantages of using an online hotel software is that you do not have any more headaches about reservations.2)   Numerous Point of Sale: Keeping a check on the add-on services your hotel provides can easily be done with the help of the numerous points of sales.3) Sales and Marketing Console. With the help of this console, you can access the database of your customers get in touch with them notifying them of special offers and discounts. 4)Travel Agents and Corporate Clients:It is important that you properly deal with travel agents and corporate clients as they play a very important role in bringing in more guests to the hotel.5)   Connected to 1000s of Travel Portals: Web based PMS help you get connected to many travel portals like Travelocity, Tripadvisor and Expedia helping you reach more people. 
  •  
    t is the age of the Internet, the age when many businesses solely run on the Internet. From marketing to reaching new people, there is a lot that can be done with the help of this medium. The hotel industry too is not insulated from its effect. Almost all kinds of hotels, from inns to bed and breakfasts to resorts, everyone is trying to tap the energies of the Internet and make optimum use of the medium. The Internet plays a major role in improving the sales and customer relationship.
wei xie

Top Three PMS Features | Top Stories | | Hospitality Magazine (HT) - 0 views

  • It is essential that a PMS have functionality that supports a guest-centric focus.
  • A PMS with a robust, easy-to-use guest history or CRM (customer relationship management) system database at its heart enables operators to deliver personalized attention that results in revenue and guest loyalty. 
  •  To intelligently optimize rates and maximize revenue, a property must have a PMS with an effective, integrated revenue management (RM) system.
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  • In today’s online marketplace it is also crucial that a PMS drive sales through two-way communication with a wide variety of Internet channels.
  •  
    Firstly, Guest Centric PMS Focus. Guests are the reason why hotels are in this business and also the resource of the hotels' revenue. Guests prefer to get experience and personalized attention from the hotels. Secondly, Integrated Revenue Management. A property must have a PMS with an effective and integrated revenue management system, which include the potential daily revenue. The revenue management module and a great deal of data must be fully integrated. Thirdly, the Ability to Connect to Online Sales Channels. There is a PMS drive sales through two-way communication with a wide variety of Internet channels. This article points out online channels are the fastest growing source of reservations, and getting your property's optimized rates and accurate available to the most effective of those channels.
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    Choosing the right PMS system is a very important decision that management has to take in consideration. Some PMS systems are not user friendly and are very complicated. In the end, you want your staff to be more productive and efficient not the opposite.
  •  
    I agree with the points in your article that it is really important to choose a right PMS for the hotel. And these three features stated in your articles are also the most important things that help us to make the decision on choosing a PMS.
  •  
    The Ability to Connect to Online Sales Channels would probably be the most important to me. In this choice oriented system today built around the user, its almost a necessity to have your update date information readily available to the Expedia's and other major channels of distribution
  •  
    Here are the three most important things to consider as you select a new PMS or upgrade your existing system. 1. guest centric PMS focus: A PMS with a robust, easy-to-use guest history or CRM (customer relationship management) system database at its heart enables operators to deliver personalized attention that results in revenue and guest loyalty. 2.Integrated revenue management. The PMS provides the revenue management module with a great deal of data including availability and current pricing, the two systems must be fully integrated. 3.The ability to connect to online sales channels.Properties whose PMS has two-way communication with the web will be able to push optimized rates out to dozens of websites to generate revenue from local events or other market factors and always be confident of accurate availability
  •  
    This article explains the top three features to look at when in the process of picking out a PMS to use at a property. The first feature is that it should be guest centric PMS focus. This industry is run by guests. They are the reason hotels and restaurants exist. Having an easy to use CRM allows to employees be a bit more personal with the guest. Next, is integrated revenue management.Revenue management to be at the top of its game needs a fast system. When updating information if it takes too long it gets frustrating and can lose some opportunities to increase your daily revenue. Lastly, it should have the ability to connect to online sales channels. The article says that having a two way communication system is a crucial point to maximizing your company's point of sales.
  •  
    This article discusses about 3 main features you should consider when you chose a PMS. First and most important feature is that whether it is guest centric or not. The hospitality business is all about guest, they are the source of your profits. So it is very important that your PMS has easy access to customer database or CRM system database. The second thing you should consider is Integrated Revenue Management. Hospitality market changes rapidly due to all not sure factors: holidays, events, festivals. So if you can forecast the changes of market rate and you update your rate in time, you are ahead of the game. Last, a excellent PMS should also has the ability to connect to Online Sales Channels. As the Internet is developed, lots of people make on-line reservations. Because the most accurate and updated information, your PMS should connect to on-line sales channels.
Sherine Mattison

The Role of Internet in the Hospitality Industry - Yahoo! Voices - voices.yahoo.com - 0 views

  • E-Booking The first role of the internet in the hospitality industry is online booking. As aforementioned in the past, travel agents were the most common source for booking hotel rooms and other travel components like flight tickets and travel tours. However, the internet has changed this; manual booking and reservations have been transformed to E-booking or online booking via Central Reservation Systems (CRS). As of March 2008, there are over 1.4 billion internet users (Internet World Stats, 2008) and according to the Computer Industry Almanac, this number is assumed to increase to 1.80 billion in 2010 (Clickz Stats, 2005). The Travel Industry Association in the United States stated that in 2002 about 64 million out of 619 million online users were online travelers and used the Internet to purchase travel-related services and products (Zhang, 2004, p.3). "Online leisure travel sales totaled $20.4 billion in 2002 and hotel booked online reached $3.8 billion" (Ibid). In 2005 the online travel revenue reached $27.7 billion in the U.S. alone and has steadily increased (Webmetro, 2005). Now imagine how big these figures would be on a global basis.
  • Another important role of the internet is the use of it as a marketing tool. Before a hotel can offer e-booking it has to set up its own website. The hotel can apply attractive designs and offer guests a virtual tour of the entire property and show various room types. This strategy is considered a minor but may get a lot of appeal from online users. The internet also allows hotels to reach more customers by using search engine optimization (SEO), which is a tool that helps increasing the traffic and page ranking in search engine results (Hotel Travel Check, n.d.). Another internet marketing strategy for the hospitality industry is electronic customer relationship management (eCRM), which are activities to manage customer relationships by using the internet and web browsers (Hotel Marketing, 2007).
  •  
    "The first role on the internet in the hospitality industry is online booking." With the increase in use of online booking sales of travel related goods and services in the hospitality industry has soared. "In the past, travel agents were the most common source of booking hotel rooms and travel components." The use of the internet has changed this as more and more travellers are booking online. "Another role of the internet is the use of it as a marketing tool." Hotels are able to market themselves; when the internet is used they will be able to set up their own websites where they will be able to showcase the aesthetics of the property and the services offered. This could attract a lot of online users. The customers would be able to see virtually what they are about to purchase. This type of technology also allows the business to reach customers globally. This in turn allows the business to have an idea about the kind of customers they are catering to. Since businesses would be using less of travel agents, there would be some savings and so they would be able to offer customers more competitive rates, there an increase in sales.
anonymous

Are customers' reviews creating value in the hospitality industry? Exploring the modera... - 0 views

  • reviews
  • positive effect on hotel revenues
  • outside popular destinations
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  • online visibility
  • user-generated reviews
  • 240 small and medium-sized hotels
  • online retailers have thus been gaining increasing market power in influencing customers’ purchases (i.e., Inversini and Masiero, 2014, Silva, 2015, Yen and Tang, 2015) and have improved market transparency and uncertainty for travellers (Toh, Raven, & DeKay, 2011). For this reason, their role is now considered an infomediary (Chen, Yang, & Wang, 2015) because their capability to add value in transactions depends primarily on collecting and processing information about prices, destinations and travellers’ reviews.
  • positive effect on hotel revenue growth
  • outweighed by a negative effect on gross profit margins.
  • managerial implications discuss how hotels should use social media features according to a strategic view based on pursuing the horizontal and vertical differentiation of their services in an attempt to create more economic value from their online visibility and to protect profit margins from the intermediation in their customer relationships.
    • anonymous
       
      MIS idea of how to actually use the information giving from this style of data mining
  • Online reviews provide additional information for travellers to mitigate the uncertainty about the quality of a hotel and about its fit to their needs and preferences on accommodations and destinations.
  • 50,115 user-generated reviews on TripAdvisor,
  • shake up long-lasting reputations through reviews posted by unmonitored influential opinion makers
  • Internet can be a value-destroying mechanism for small businesses and can deter hotels’ capacity to defend profit margins
  • empower buyers
  • ncrease the degree of rivalry among firms that sell and distribute their products/services
  • bargaining power
  • First, online ratings can have a beneficial effect on the occupancy rate of rooms, which is especially important for larger hotels that bear a greater cost of idle capacity, especially in off-peak periods. Second, visibility on social media can allow hotels to apply a price premium thanks to greater economic value generated by market transparency, the reduction of the search costs for both parties involved in the transaction
    • anonymous
       
      Hypothesis broken into 2 parts
  • brand image of hotels,
    • anonymous
       
      Potential here for bad press. Viral videos of mistakes/ misinformation etc.
  • maller hotels with opportunities for market growth in segments in which they have a limited market presence
  • exploring the relationship between online visibility and the creation of economic value in terms of increase of sales and profitability for a panel of 240 Italian small and medium hotels
  • ive million registered users who visit the platform 30 million times per month on average
  • we consider only the profitability (the value appropriation achieved through online visibility) and not the increase in sales (the value generation achieved through online visibility) because hotels’ market positioning affects a hotel’s capability to appropriate the economic value brought by online visibility and influences hotels’ ability to negotiate the infomediation fees, which in turn impact hotels’ profitability.
  • social networking (i.e., the opportunity that users have to connect with people with similar travel interests, needs or experience) and knowledge sharing
  • travellers can more easily find persons who share similar travel preferences and needs. In a similar way, a user consulting travellers’ reviews can see if the reviewer is a member of his/her friends’ social networks on other platforms, such as Facebook.
  • beyond allowing hotels to improve their room occupancy rates, online visibility may allow hotels to apply price premiums.
  • respond strategically to online reviews
  • positive relationship between online visibility and sales
  • three different forms.
  • first is the rating assigned by users, who can express their evaluations on a quantitative scale.
  • rates given by users are distributed over the scale.
    • anonymous
       
      Think amazon review
  • number of reviews that users give to hotels
  • we may expect that online visibility on social media – seen as a composite measure of the three above-mentioned elements – can positively impact hotels’ revenue growth
    • anonymous
       
      hypothesis
  • hotels’ market positioning between their online visibility and profitability.
  • Online visibility has a negative effect on the gross profit margin of a hotel.
  • Consequently, high star-rating hotels apply price premiums for their superior quality and attract less price sensitive customers, who have a higher willingness to pay for quality
  • we expect that less price sensitive customers are willing to pay more for hotels with higher customer ratings on infomediation platforms because they perceive these hotels to be more valuable
  • The relation between online visibility and sales profitability is stronger for hotels with high star-rating.
  • iche tourism appears to offer a more meaningful set of experiences, given the knowledge that tourists’ needs and wants are being met
  • “what makes a tourism destination truly competitive is its ability to increase tourism expenditure, to increasingly attract visitors while providing them with satisfying, memorable experiences, and to do so in a profitable way” (p. 2).
  • However, a number of studies have reported that online user-generated reviews are perceived as more credible than traditional word-of-mouth when they come from persons with similar attitudes and preferences
    • anonymous
       
      Hate this.
  • Hotels in niche destinations are thus better positioned to extract more economic value from online visibility.
  •  
    This article analyzes how user-generated ratings have a positive impact on hotels revenue growth. It looks at this through three different methods: one, ratings that the uses provide, two at how those ratings are "distributed over the scale," and three, the number of reviews that hotel receives. The article observes 240 small to mid scale hotels in Italy. Some issues we see come up revolve around the subjectivity of user-generated reviews and how that can positively and negatively affect hotel occupancy and interest. Ultimately, it appears that hotels that already have a high star rating will benefit most from these user-generated ratings because they have a stronger bargaining tool. The other benefactor are small, niche hotels whose increase viability and unique qualities help it in encouraging new tourism and high level experiences.
Melissa Krajewski

Availpro and Premier Hotels of the World announce extended partnership - 0 views

  • CEO of Premier Hotels of the World™ Mr. Martin Fabiano states: "We are excited to announce the partnership with Availpro, which will give our Member Hotels a distinct advantage over other Groups."
  •  
    The Availpro organization is the hospitality industry leader in online distribution. Its mission is to provide hotel owners with the most effective online sales platform. Using the tagline, 'The World is your hotel Marketplace,' Availpro has helped thousands of hotels worldwide sell over ten million rooms by utilizing a highly developed extranet channel. Availpro's extranet channels provide two-way connectivity to over one hundred distribution websites. With a larger scope of distribution the hotels using Availpro increase their sales and become more efficient. In addition, Availpro's management of these extranet channels saves hotels valuable time. However the reason Availpro is the leader in online distribution is not just its booking capabilities but rather its recent developments that together provide their clients an online distribution extranet solution. The booking engines that made Availpro successful expanded to include mobile applications and social booking with Facebook. Availpro also introduced important decision-making tools such as the Smart Channel Manager, Rate Screener and Guest Satisfaction. I was curious about the 'Rate Screener' so I read Availpro's article "Availpro rate screener allows Hotel owners to sell their rooms at best rate," published on October 17th 2011 (http://www.hospitalitynet.org/news//4053349.html). This tool was developed with user input and tested in real life rate decision scenarios. The all-in-one solution allows managers to see their rates, inventory and competitor rates on a central distribution schedule. By analyzing their competition in real time managers are able to optimize their rates. Long gone are the days when managers used to call the local competition and pretend to be walk-in guests to find out fire sale rates. This most recent article, published on the third of January 2012, discusses Availpro's growing partnership with Premier Hotels of the World™. By incorporating Availpro's ex
Qike Chu

E-Commerce Is the Next Frontier in Global Expansion - Paper - A.T. Kearney - 0 views

  • As online sales skyrocket in developing markets, an online presence is a low-risk way to test new markets and complement existing store footprints.
  • Retail expansion is increasingly occurring through online channels as a way to tap into growth markets, build brands, and learn about consumers while investing less capital than traditional formats.
  • With a 78 percent annual growth rate since 2006, China's online retail market is expected to explode, reaching $81 billion over the next five years.
  •  
    According to this article, e-commerce such as online activities has been changing how retailers develop their global expansion strategies. As e-commerce is growing so fast, online booking, online shopping and online reservation are more popular than old days. Being a retailer, he has to be adapt to this new e-commerce trend and start to build an  online presence in order to maximize potential advantages from e-commerce. This article also showed top 10 countries in the 2012 E-Commerce index in which China is decided being the leader of the pack. China has 513 million internet users and 164 million online shoppers, which means that China's potential online retail market is expected to develop faster and faster. What's more, there are three main reasons that people in China like shopping online. The first is that there are greater products selections comparing with shopping in some malls. The second reason is that online shopping make customers be able to compare the prices by vendors. The last reason is also the simplest because online shopping make daily life more convenient than before.
Xiaoxiao Wang

The Importance of the Point of Sale (POS) System - 0 views

  • The POS acts as a cash register as well as a computer. In fact, the POS can consist of multiple stations, including credit card terminals, receipt printers, display screens, hostess stations and server stations.
  • For quick-service or fast-casual restaurants, the POS systems are usually located in a visible place, often close to the front doors of the restaurant. In a full service restaurant, the POS is usually located in a discreet location so as not to interfere with the ambience or the dining experience.
  • Price and quality
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  • Necessary hardware components
  • Technical support
  • Financial reporting capabilities
  • User friendliness.
  • Software to track data
    • Juan Du
       
      Restaurant can use the POS equipment to capture orders, record data and display or print tickets. It can save cost and time. Make the accounting system more accurate and avoid more mistake instead people do these staffs. It can help manager do many things. And especially in the large chain restaurants, the POS can help managers to collect all of the data and information. It is an especially effective way to stay organized, communicate the status of orders, and record speed of service information.  
  • Point of Sale (POS) equipment is the computer-based order-entry technology many restaurants use to capture orders, record data and display or print tickets. Restaurant servers, bartenders and cashiers can all use POS systems to easily enter food and beverage orders.
  •  
    Point of Sale (POS) equipment is the computer-based order-entry technology many restaurants use to capture orders, record data and display or print tickets. Restaurant servers, bartenders and cashiers can all use POS systems to easily enter food and beverage orders.In fact,it has the ability to perform a multitude of functions, including the following: Calculate cash due for every order entered Record the method of payment Keep track of the cash in the cash drawer Create hourly and daily sales reports Allow hourly employees to clock in and out Calculate labor and payroll data Record daily check averages for each worker Keep track of menu items sold Record information on repeat customers Some of them we are familiar, some we are not. And more important, how to choose a right POS for our business is a keyEvery POS system differs based on its software, hardware and application. When looking for a POS system, do some research online and check out several different companies. You can even request a demo from a salesperson. Make sure the POS system you choose is one that fits your restaurant concept, service style and business needs. After all, this software can take a big bite out of your budget. And in this article, the author show us so many aspects should be concern when we decide to buy the POS.
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  •  
    This article introduce the POS capabilities, how employees use them, where to set up the POS, specific POS Configurations and what people should look for in a POS system. The focal point of this article is the last part. It tells manager what are the keys when choosing a POS system. They are Price and quality, Necessary hardware components, Software to track data, Financial reporting capabilities, User friendliness and Technical support.
  •  
    This article reviews the ultimate significance in having a Point of Sale System in a restaurant. It utterly describes the capabilities of the system which include keeping track of how much cash is in the register and creating daily sales reports. How employees can use the system for their convenience and the processes to go through. The set up location; where the POS equipment should be properly set up. Specific configurations with the POS and finally other important details within the system. The articles claims that there are several advantages with using the POS system and one of them is the fact that it gathers data which aids with marketing your current customers as well as new guests. It continues by being a helpful guide in a restaurant while offering suggestions and gathering information and essentials to use. The article goes into detail by stating that restaurants and businesses need to look into several POS equipment to find the most accurate and resourceful one for the specific place of business.
  •  
    The point of sale (POS) is more commonly used these days with the advancement of technology. Many restaurants use it in restaurants for many reasons. One of the reasons is to organize the orders and sales that are being processes. Not only it helps the employees to gather their information, but it is also accurate to make reports. This machine is efficient in more ways than we think. This article also point out the POS capabilities and how it works. This machine has a description of each item and the amount, it organizes the payments, creates daily financial statement, evaluate payroll, and do the calculations. Now how it works, it keeps track of the credit card payments that have entered the system, creates reports daily, and systematize the cash, etc. It is very easy for employees to access the device. First they have to enter their name, enter the order of the customer, send the order to the kitchen so it can be prepared, then wait till they ask for the check to collect the payment and register it on the POS.
  •  
    This article indicates the importance of the POS system. It introduces POS system from different aspects, including POS capabilities, how employees use POS system, where to set up the POS, specific POS configurations and what to look for in a POS system. 
da7327

HNN - Revenue and cost strategies for boutiques, independents - 0 views

  • Without the power of a brand sales team and the tools that they provide, your independent hotel’s sales efforts need to ensure that they are utilizing the right channels to effectively capture transient demand.
  • While global distribution system business is mostly pay-to-play, it provides exceptional return on investment in the right markets.
  • Direct bookings are the most cost-effective business for boutique hotels, so it is always the goal to drive business to our own booking channels. Identifying what percent of business you need from group sales, GDS and online travel agencies is paramount to a successful revenue strategy.
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  • Identify your hotel’s ideal rooms-to-space ratio to optimize profits on any piece of group business and to ensure your revenue manager and sales team are on the same page.
  • Your social media platforms create a stage for your hotel’s voice to be heard, so their importance is far greater than they would be for a branded hotel. Develop creative packages and collateral that capture the guest experience to set yourself apart from a franchised hotel.
  • A destination is a high contributing factor in the decision-making process, so your sales team should highlight all of the attractive aspects of the local area.
  • If your hotel has an in-house food-and-beverage department, then capitalizing on these events is even more critical to achieving financial success and should be incorporated into your revenue strategies
  • Your website should be constantly updated with local happenings, events and hangouts to keep up with search engine optimization (SEO) changes that stress local focused searches
  •  
    The article introduces how to manage revenue and cost strategies for boutiques and independent hotels. Compared to big brand hotels, boutique and independent hotels have less brand power, and less power of a brand sales team. So, they need to find the right tools to adapt and fit their own property. Firstly, GDS is a good source to gain an exceptional return on investment, but it costs a lot to adopt for small or mid-sized hotels. Thus, direct bookings can be the most cost-effective way for them to choose. By identifying the sales from group and OTA, revenue can increase and optimize profits. Hotel can hold events as one of the ways to increase revenue. Mixing F&B and event can achieve financial success. Also, independent hotels can use destination marketing to emphasize tourist spots and host more business trip. Lastly, the importance of social media and website is very high for boutiques and independents. As they constantly update their site, search engine optimization should be kept up with. Considering GDS system in the context of small property, they are not afforded to adopt the system though it has a lot of benefits to increase revenue. Thus, they should find the right tool to adapt while considering the budget or common booking tool utilized.
Marcos Oliveira

Debuts An iPad Point-Of-Sale In A Box | TechCrunch - 0 views

  • Revel Systems, an iPad point-of-sale company backed by $3.7 million in funding
  • Revel Router,” as the device is being called, is an Apple-certified “made for iPad” technology that allows shops to run their POS through an Apple iPad.
  • the system forgoes the need for an ISP-provided Internet connection in order to work – the whole thing can run off the iPad’s 3G or 4G
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  • company is selling the device as a package deal including an iPad, the router, peripherals, and POS software
  • a restaurant owner or retail owner doesn’t even know when the Internet goes out,” she says.”This is the biggest problem in these establishments, and it’s our biggest support headache
  • around 300 locations have the system installed
  • The way the system works involves proprietary hardware and a patent-pending wireless protocol
  • system isn’t really designed for mobility, but rather aims to replace the existing, stationary set-ups at the point-of-sale
  • starting package is $3,330 and includes an iPad, cash box, printer, credit card swiper, the router, and the software license
  • two support packages – email and online ticketing support for $100/month or per terminal fee that’s available 24/7.
  •  
    Revel Systems is an iPad point of sale company that is backed by $3.7 million in funding. The Revel Router is an Apple certified made for iPad technology that allows shops to run their POS through an Apple iPad. The company is selling the device as a package deal which includes an iPad, the routerm peripherals and the POS software. Currently there are 300 locations installed. Revel CEO Lisa Falzone says that a restaurant owner or retail owner doesnt even know when the internet goes out and with the iPad being on either 3G or 4G connectivity this problem will not exist. Also the need for intenret is eliminated due to the iPad. The system isnt really designed for mobility but rather it aims to replace the existing, stationary setups at the point of sale. The starting package is $3,330 and includes an iPad, cash box, printer, credit card swiper, the router, and the software license. The company offers two support pacakges and meail and online ticketing support for $100/month or per terminal fee thats available 24/7. The use of the iPad will make it easier for an establishment that is just starting out. Rather than running wires and installing internet, the use of the iPad will give the same functionality that a regualr touchscreen POS can bring. The amount of downtime due to internet failure is virtually non existent and the cost is at a very affordable price for any restaurant..
gulsevim

SiteMinder Brings GDS Representation In-House as Hotel Customers More Than Triple in On... - 1 views

  • Almost 900 hotels located in the world’s top destinations are poised to receive personalized GDS sales and marketing representation from the global hotel industry’s leading cloud platform.
  • GDS by SiteMinder’, gain its own chain code and more than triple in hotel users.
  • Through sales and marketing representation, those hotels can now access a network of GDS experts based in New York, Los Angeles, London, Hong Kong, Paris, Munich and Sydney that will work with travel buyers on their behalf to increase hotel brand exposure and revenue.
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  • Over the past year, GDS by SiteMinder powered nearly 200,000 reservations worth over $60 million in hotel revenue, showing how effective global distribution systems are in bringing guests hotels wouldn’t otherwise attract, especially from Monday to Friday when properties need business most.
  • Mr Lewis-Purcell has spearheaded SiteMinder’s dedicated GDS function over the last 12 months, growing the total number of GDS by SiteMinder hotel users from 250 to almost nine hundred.
  • GDS by SiteMinder uniquely brings cloud-based technology together with legacy GDSs that are as relevant today as they were thirty years ago, to provide hotels an incomparable total distribution platform. It’s now used by about sixty percent more hotels than our industry’s most renowned soft brands.
  • GDS by SiteMinder provides hotels a single point of entry to the world’s major global distribution system providers – Sabre, Amadeus and Travelport – and travel agent network. In addition to sales and marketing representation, hotel users of the GDS connection receive free consortia advice, account management and local customer support.
  •  
    Site Minder by GDS experience, serves as good example to better understand the impact of a GDS's impact on the hotel industry. GDS by SiteMinder provides a single point of entry to over 500 000 travel agents across the globe, which means that hotels can target many type of travelers in multiple geographic regions. By connecting hotels directly to the world's major GDS providers - Sabre, Amadeus, and Travelport - and travel agent network, GDS by SiteMinder offers a major convenience to participating hotels. Through this service, hotels don't have to worry about signing up with each one of these providers. Another advantage of SiteMinder is its affordability; there are no commission fees, rather, just one flat transaction fee per reservation. The company offers free services from GDS experts and free technical account management advice which are other benefits. For instance, in another article, in mid-2013, South Beach Group who has boutique hotels in the heart of Miami Beach, decided to switch its 12 hotels to GDS by SiteMinder. After moving to GDS by SiteMinder, South Beach Group representative highlights the significant increase in bookings leading to a growth in annual revenues by17% in 2013. In essence, GDS by SiteMinder advertises participating hotels to more customers globally within an incomparable distribution platform, with real-time and two-way GDS connectivity. As we can see in the article, in 2016, just within 12 months the total number of users of GDS by SiteMinder increased from 250 to almost 900. This article underlines the importance of GDS for the growth of travel industry. With Site Minder by GDS, one can realize how GDS helps increase hotel bookings by placing hotels on more virtual channels (an analogue of supermarket shelves) globally.  
Yanique Coach

Online shopping: Selling becomes sociable | The Economist - 0 views

  • Swipely is among the latest entrants in the growing field of social commerce. Firms in this market combine e-commerce with social networks and other online group activities.
  • They aim to transform shopping both online and off.
  • The pioneer of flash sales, Vente Privée, grew out of the French apparel industry (the name means “private sale”).
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  • Its five local sites in Europe have more than 12m members and are expected to bring in about €800m ($1 billion) in revenues this year.
  • The most successful is Groupon (a combination of the words “group” and “coupon”, which buyers print out to pay for their service).
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    Swipely a social commerce company has users who can publish their purchases online. When they swipe their credit card, the transaction is shown on the site and this is discussed by other users. Company wants to transform shopping online and offline . There are two generations of e commerce sites: first, essentially digitized mail order catalogue and second, few emerged from Silicon Valley or sometimes they drive customers to actual shops. Many made money from flash sales, meaning time limited offer of high discounts. Buyers spread the word on social networks because these sites offer different services of local business for eg. restaurants and spas at a discounted price. Groupon could be a third generation of social shopping sites. It's hard to predict whether second or third generation of e commerce sites will continue to grow because they may get tired of flash sales.
patrick021

E-Commerce Innovations With Applications for Hospitality - 0 views

  • With a variety of online visitor tracking tools out there, hotels and similar businesses can monitor individual customers when they visit their site, and tailor their offers and recommendations based on their behavior.
  • Almost every industry has their buyer personas, and the hospitality industry is no different. You’ve got your once-a-year family travelers, your regular businesspeople, and so on. Once these buyer personas are created, hotels and casinos can tailor their marketing efforts to reach one
  • the traveler’s journey is complicated, and can very from person to person. It means that there is much more competition online, and hospitality industries have to compete to get shoppers’ attention
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  • One such avenue is through retargeting. This is the process whereby shoppers who have visited a website are displayed adverts for that site even after navigating away from it. It can also be employed when a shopper adds a product or service to their cart, but then abandons it before paying.
  • With recent advances in 360-degree photography, hotel websites can now offer virtual tours of their rooms and venues. This lets any potential customers to see first-hand (almost) where they will be staying before booking.
  • one of the most simple tactics is to use ticker counters to denote how many rooms are available for certain dates, with the number steadily decreasing as they get snapped up. Urgency is a powerful motivator of action, and a countdown is perfect for conveying that.
  • Ecommerce is also a great medium for utilizing social proof. This is the leveraging of user-generated reviews and testimonials to convince dithering customers to commit to a purchase. By sharing customer sentiment in emails or on websites at the point of sale, brands can head off any concerns that shoppers might have with authentic testimonials.
  • As ecommerce grows ever more popular, online businesses are given more and more options to capitalize on psychological triggers to turn potential customers into sales. There are a number of these available out there, from storytelling, to building a sense of community.
  • The arrival of ecommerce has transformed the way thousands of industries do business
  • From retail and finance to construction and agriculture, more and more businesses are embracing the ecommerce boom
  • Improved customer experience, targeted advertising, streamlined marketing processes — the benefits for brands are almost endless.
  • Ecommerce is opening up new avenues for businesses all over the world across a variety of industries. Hospitality has a lot to gain from adopting new technology and ecommerce innovations. Use smart tech to help you market experiences. And don’t forget to invest in data and personalization to drive up conversion rates.
  • Ecommerce is opening up new avenues for businesses all over the world across a variety of industries. Hospitality has a lot to gain from adopting new technology and ecommerce innovations. Use smart tech to help you market experiences. And don’t forget to invest in data and personalization to drive up conversion rates
  • commerce is opening up new avenues for businesses all over the world across a variety of industries. Hospitality has a lot to gain from adopting new technology and ecommerce innovations. Use smart tech to help you market experiences. And don’t forget to invest in data and personalization to drive up conversion rates
  • Today’s consumers are increasingly demanding a more personalized service in their ecommerce experience.
  • London’s Strand Palace Hotel offers their guests such an experience, with the option of navigating through their restaurant, cafe, lounge, gym and more, all without ever even setting foot in the hotel.
  • VR is already being experimented with by a number of big-name brands.
  • Another innovation offered by ecommerce is selling to segmented buyer personas. These are imagined creations of your most common types of customer, built on consumer data that takes into account how and why they shop with you.
  • This is a useful technique employed by a number of online stores.
  • allowing them to target anyone who abandoned their cart before paying by displaying relevant ads and sending emails with special offers and discounts. By ‘chasing’ consumers as they browse the web, online businesses can ensure that they follow up on any missed sales.
  •  
    This article provides a detailed account of the variety of ways that E-Commerce can be used within the hospitality industry. With the advent of the Internet and new and improved technology, it has become much more imperative for companies to remain competitive in this space. From VR to targeting, as well as online tracking, there are a variety of tools that hospitality firms can employ to attract customers via the Internet. As the Internet is the primary resource that people utilize to shop for hospitality products such as hotel rooms, airfare, etc... it is incredibly important for companies to remain on the cutting edge in regards to their marketing online and attracting and retaining customers.
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    This article talks about how e commerce is opening up new roads for organizations everywhere throughout the world for many different industries. The hospitality industry has a ton to pick up from embracing new technology and web based innovations such as e commerce. By utilizing such technology, this has helped hotels offer virtual tours, generate more reviews, and create more online businesses by marketing experiences. As applications such as TripAdvisor, Amazon, Expedia and many many more, these have created a more personalized hotel shopping experience and has aided in tracking a traveler's booking journey.
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    E-commerce as a standalone concept is one that has revolutionized all business done throughout the world. However, when it comes to hospitality, it becomes more and more intricate. Innovations within the scope of the hospitality industry have made it very easy to track a potential guest and lead them to our resort/hotel/theme park/restaurant, etc. If a guest is looking for a romantic getaway repeatedly on our site, then we can better tailor a search for them so they can enjoy quality time with each other. This is done through the use of what are called cookies. Cookies are small files that are saved on your browser when you first start searching on any given site. These files allow companies to use target marketing and aim at you, knowing what you like. Another great way that e-commerce has evolved for us here in the hospitality industry is that we can now offer our guests virtual reality tours of our rooms and commodities from the comfort of home. This allows us to show off our properties while the guests decide without having to make the trip beforehand.
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    Applications today has made the hospotality industry florish. It has given the industry several opportunities such as a better hotel shopping experience, selling to buyer personas, tracking buyer history, and virtual reality tour of the hotel.
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    The hospitality industry is faced with numerous responsibilities when it come to the satisfaction of guest. with the tremendous acts of growth within trends it is often difficult for vendors to keep up with the trends. some of the new trends that are being introduced include personalized features which is playing a major role today. Another major trend is now called virtual reality. I think this trend is a great addition to the industry because it allows customers to virtually place the item in their home to see if it fits their style. Also with the pandemic situations with can help with the idea of social distancing .
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    The innovations of e-commerce with application in hospitality is becoming a growth trend for this industry. Many more guests are interested in the experience of personalized attractions and the creativity of what brands has to offer. Many merchants are creating a tool that allows the software to remind shopper/guest about what left in the carts to reduce the number of missed sales.
Emily Bova

E-Commerce News: Ghost of Christmas Past Haunts Amazon - 0 views

  • Amazon's net income was US$177 million, or 38 cents per share, a 57 percent percent drop from a year ago.
  • Sales for the three months before Dec. 31 came out to $17.4 billion, lower than Wall Street expected over the traditionally busy holiday season.
  • Flooding in Thailand slowed down production for many tech companies this year
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  • The company used more third-party vendors than usual, which helps margins but cuts down drastically in revenue.
  • The world's largest online retailer has also been using promotions such as the Amazon Prime program, where customers can pay $79 a year to receive unlimited two-day shipping. The offer draws customers to the site, but over a busy holiday season, the shipping costs hit the retailer hard.
  • lower demand than it expected for video game sales and European currency fluctuations
  • A lot of people underestimate the profit of the e-book. You don't have to pay money for delivering or printing, so you can get tremendous revenue,"
  •  
    In Amazon's last quarter, net income dropped by 57 percent from a year ago. Sales for the three months before December 31 came out to $17.4 billion, lower than Wall Street expected over the traditionally busy holidy season. It is predicted that for the next quarter outlook, there could be anywhere from a gain of $100 million to a loss of $200 million. While Amazon continues to profit in sales of its best selling Kindle devices, there were a variety of factors that contirbuted to its losses. The flooding in Thailand slowed down production for many tech companies. Third-party sellers (which give a 13% commission to Amazon as oppsoed to 100% commission when Amazon sells themselves) were used more than usual. Promotions such as the Amazon Prime program which allows the customer to pay a fixed rate and get umlimited two-day shipping hurt the retailer hard over the busy holiday season with shipping costs. Other reasons were lower demand for skimwords
David Glas

Beautiful Brands International Rolls Out Revel Systems' Revolutionary Mobile Point-of-S... - 0 views

  • maker of the revolutionary mobile point-of-sale system that operates on the Apple iPad or iPhone optimized for restaurant and retail establishments
  • Revel Systems the premier point-of-sale brand for restaurant and retail stores with multiple franchised locations
  • Revel Systems’ POS system offers both the power of cloud-based software and the security of a local iPad application
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  • potential for a faster adoption rate
  •  
    This article reveals that Revel Systems is expanding its point-of-sale products with Beautiful Brand International. Revel Systems is well-known for creating the mobile point-of-sale system for Apple used by numerous restaurants and retails. Other popular restaurants currently partnered with Revel Systems are Camille's Sidewalk Café, Dixie Cream, FreshBerry Frozen Yogurt Cafe and Rex's Chicken. This POS system provides a quicker checkout option for customers and offers hotel/restaurant managers the option of powering the software using the cloud or an iPad application. This provides the company a cost efficient, easy to use program that has the ability to customize payroll, track inventory, email receipts and allow customers to make orders online. Most managers who invest in this program make it a requirement for all their companies to utilize in order to provide a systematic approach to maintaining their database and ensuring all locations are managed the same. This is such a popular and competitive tool that Revel is already making $80 million since its origin in August 2010. A major advantage of this system is that it provides the ease of accessing documents with its reliance on servers hosted in the cloud. These systems are quickly being adopted by restaurants mainly because customers are impressed with the style, speed and reliability. Revel Systems forces busineses to upgrade their POS systems in order to meet security standards. This will result in a $34 billion POS market by the end of 2012. Companies selling these systems make businesses believe they need POS systems in order to run their business efficiently. They explain that with servers hosted in the cloud, management is enabe to see data in real time from any location.
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    The article talk about a POS company that has developed a complete system for retail or restaurant stores that runs on the IPAD and the Cloud. It lowers the entry barrier by more than 75% compared to a regular MICROS POS system, they do this by not having a in house server and using standard hardware.  One of the advantages of using this system is that you can monitor your sales real time on any location that might be using the system.
dstic005

What Is a Point of Sale System? A Guide to POS Features - 0 views

  • Ask any retailer, “What is a point of sale system?” and they’ll tell you—it’s the central component of their business; the hub where everything merges.
  • “A point of sale system is a combination of software and hardware that allows merchants to take transactions and simplify key day-to-day business operations.”
  • Software and Hardware Components of POS Systems As we look at the components of POS systems, it’s first important to understand the software options available and what each requires.
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    This article introduces what is a Point of Sale System(POS) and the benefits, must -have capabilities of POS system. Also, the article explains the hardware and software components of POS system. A retailer said the POS it's the central component of the business and the system and combined everything together. POS combination of software and hardware that allows the merchant's transactions day by day for the business operations. Thus, POS system becomes very popular and very helpful for the business. There have the key capabilities and the benefits for selecting a new POS system. For software components, on-premise and cloud-based are two common software adjust methods. First of all, on-premise is a traditional software model, the business can purchase it and installed it on the computer system or servers. You have to pay for the updating and maintaining fee for that software, which means the business has to hire an IT to monitor it. Second, cloud-based, cloud0-based is a good example of the Software as a Service (SaaS) POS solutions. The business has to access the system via the internet. The benefit of cloud-based is when your internet goes down, most systems can save the information for you and you always can go back to check it again when your internet coming back. Besides, the hardware components for the POS are registered screen which is can monitor that displays the product database, the barcode scanner is a automates the checkout process. Credit card reader that can secure the systems. The cash drawer, you need a secure place to store cash for transactions.
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    This article explains what a Point of Sale System is. It also points out an important factor about software and hardware. Hardware requirementshttps://www.softwareadvice.com/resources/what-is-a-point-of-sale-system/ must be met regardless of what software system you have in place. There are two common software deployment methods: On-premise: A traditional software model. Purchase one or more licenses upfront for the software and install it on your computer system or servers. You're in charge of updating and maintaining the software, which may require dedicated IT personnel for larger organizations. Cloud-based: Also known as Software-as-a-Service (SaaS) POS solutions. You access and support the system via the internet. Don't worry-if your internet goes down, most systems track sales and sync them once you're back online.
smones

Square for Restaurants Gets Plate IQ Tool | PYMNTS.com - 0 views

  • Plate IQ has cozied up with Square, announcing on Tuesday (May 15) an integration with the new Square for Restaurants service.
  • The deal involves Plate IQ’s daily sales software, which enables restaurants to “automatically input guest payment data from Square for Restaurants into many existing accounting software platforms and create valuable summaries of daily transactions, alleviating the typical manual-entry demands placed on general managers,” according to a Plate IQ press release.
  • The integration also will let restaurant workers “automatically attribute daily sales to the correct general ledger account for more accurate and detailed bookkeeping,” review revenue from various locations on a single screen and see real-time sales and purchasing data, allowing restaurant operators to estimate their cost of goods sold.
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  • In addition to creating room for error, these outdated practices place burden on already busy managers,” said Bhavuk Kaul, co-founder and CEO of Plate IQ. “Plate IQ’s integration with Square for Restaurants gives owners and operators access to last night’s sales accurately accounted for, automatically, by morning.”
  • Plate IQ said its software Daily Sales integrates with existing accounting software including QuickBooks Online, Sage Intacct and Xero accounting software
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    Plate IQ has formed a partnership with Square announcing an integration with Square's new Restaurant service. Plate IQ's daily dales software enables restaurants to "automatically input guest payment data from Square for Restaurants into many existing accounting software platforms and create valuable summaries of daily transactions." This integration has multiple benefits including more accurate, faster and detailed bookkeeping and more efficient cost of goods sold management. At my restaurant, we use a very similar software to this called Avero. Avero is integrated with our Aloha POS system and the information is automatically inputted every morning from the day before. As a General Manager, I find software like this necessary to day to day operations. It enables me to generate reports on product mixes, individual server sales, categorical sales and even enables me to monitor labor compared to my revenue.
hankunli

What Is a Point of Sale? | Beginner's Guide To POS Systems - 1 views

  • If you’re just starting up your small business, it is no doubt a daunting process. Before you can get to the fun part (selling your goods and services), there are a ton of decisions to be made.
  • selecting an appropriate point of sale system may be one of the more important decisions you’ll be facing
  • . Some small businesses may just use a cash drawer and/or a card reader to take payments.
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  • However, POS systems have come a long way since then.
  • Cash Drawer
  • There are plenty of things you’ll have to keep in mind when it comes to selecting your POS. A good place to start is figuring out if you want a cloud-based system or one that is locally-installed. The difference between those types of systems is actually pretty easy.
  • Understanding POS Hardware Options
  • Types of POS Systems
  • Scale: I
  • Card Reader:
  • Barcode Scanner:
  • Tablet: 
  • Kitchen Display System: F
  • Receipt Printer: T
  • Restaurant? Retail? Or More Specific?
  • Retail-specific POS sy
  • Restaurant-specific systems
  • POS systems built just for that
  • 6 Common & Helpful Features In POS Systems
  • Inventory Management: 
  • Loyalty:
  • Customer Database
  • Reporting: 
  • Employee Management: 
  • Integrations:
  • How A POS Integration Or Add-On Can Simplify Managing Your Business
  • Quickbooks o
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    This article explains what a POS system is and it goes into details about what to expect and what you can use a POS for when at work. POS systems ultimately make our jobs far easier both from an employee and a managerial position because all data can be stored and processed through the same system. Different POS systems can be used for different properties as well as for different styles of businesses, you select the system that fits best for what your business consists of.
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    In this Article it talks about the POS Systems, to help you understand the point of sales software in a small business.
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    This article is a guide for business beginners to choose a POS. It firstly explains the basic definitions of a POS system and made explanations for its usage. A top-tier point of sale system can do everything from inventory management to providing detailed reports and analytics. It can even help with online sales with eCommerce integrations - and many come with built-in card processor services as well. Different kinds of POS includes cloud-based ones and locally-installed ones. Also, there are POS that are compatible with Android. iOS, or both. POS can sync with many hardware such as scale, card reader, and code scanner. This article also explains on how to select a POS system. It finally encouraged the readers to get a POS for their own businesses.
Yue Li (3011472)

Top 2012 Ecommerce Trend: Retailers Need to Move to Mobile - 0 views

  • Mayan prophecies aside, 2012 is all about mobile customers. If you're not mobile, you're simply not competitive. And your ecommerce business will suffer as you lose sales to competitors who provide a good shopping experience on mobile devices.
  • The biggest game-changing trend we've seen in technology is the growing usage of mobile devices, such as smartphones and tablets, and how consumers use them for ecommerce.
  • "We have seen an explosion in traffic coming from smartphones. We've seen an even bigger explosion in the rate of orders coming from tablets," said Buzzeo.
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  • "We see this as a cultural shift
  • Mobile retail sites have two considerations: smartphones and tablets. The biggest difference between using ecommerce sites on a mobile phone and on a computer is the reduced screen size and the limited capabilities of mobile device browsers.
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    The new trend of ecommerce in 2012 is to move to mobile. Based on the research, customers who are doing online mobile businesses have increased fast during recent years, and it is anticipated that the number of customers doing mobile ecommerce will continue to increase in the future, therefore, many online retailors turn to move their businesses to mobiles. There are some reasons why online retailers need to move to mobile. First, there is a growing usage of mobile devices, such as smart phones and tablets. 30 percent of tablet owners have used their devices to shop online, and 25 of smart phone owners have used their phones to do the same. Second: Mobile is convenience. Mobile-users can do online shopping at anywhere without a heavy laptop or a computer. However, there are some challenges. Smartphone has a reduced screen size and the limited capability of mobile device browsers. Online retailers need to supply their websites in a smartphone-friendly version. And for the tablets, a technology called Flash is not supported by all tablets. These changes can arise some costs for the retailer. In a word, it is a time to go mobile, online retailors need to realize this"cultural shift" and take action or they will get left behind. In my own opinion, I still prefer to use computer to do online shopping, because it is more secure and reliable. However, if the mobile ecommerce become mature, I will not reject to try to use it to do online shopping.
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