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Jennifer Mesa

Industry News > Hospitality Technology Expo 2013 > Digitally Perfect: Eccleston Square Hotel is a High-Tech Luxury Haven - 0 views

  • “smart glass” bathroom wall turns opaque and the bathroom mirror TV turns on
  • Micromaster sends information about the status of the guestroom to the hotel’s building management system, enabling staff to set the room to a dormant mode, switching unnecessary items off and turning down the heating/cooling when the room is vacant, thus saving energy.
  • £12,000 each
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    This super tech savvy hotel has a lot of bells and whistles in the room and are revealed starting when you walk in the door. The curtains will open and close a bit so you can see its electronic. And the bathroom glass fogs up so you can't see through. ** also, the micro master send info to the pms in the hotel giving the staff the ability to control temperature and lighting to benefit the sustainability of the hotel and its room. They also have motion detectors to verify when you are and are not in the room... Creepy!
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    Check out this creeper hotel that know when you're in your room or not! If i were an employee here i'd have fun with some of this technology
Karin Goodine

eMenu - Revolutionizing The Experience of Dining - 0 views

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    This article summarizes how the electronic menu is changing the hotel industry drastically.
JIACHEN LI

Cash Registers vs Point of Sale (POS) Systems - Which is Better? - 1 views

  • The one item in a retail store a business owner can't do without is the cash management system. Whether it's the traditional, electronic cash register or an elaborate computerized point of sale (POS) system, every store needs a machine to process sales.
  • he one item in a retail store a business owner can't do without is the cash management system. Whether it's the traditional, electronic cash register or an elaborate computerized point of sale (POS) system, every store needs a machine to process sales.
  • Benefits of POS Systems More detailed reports Better track inventory Improve accuracy Easily grows with business
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  • Benefits of Cash Registers Low cost for startups Most models easy to use Fewer components Basic functions and reporting
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    The article highlighted states that every business should have a cash management system either POS or cash register. The traditional cash registers will be adopted by smaller business; however, more developed systems should use a POS. The cost could be high but the life expectancy of the system is very long. To make a decision about which POS system to choose, the decision maker needs to do his/her homework to determine the business' needs including how much it will grow in the future. The system will benefit the business to generate detailed reports, track inventory, easy menu updates and others.
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    One reason for the high initial expense involved with a cash register or point of sale system is that a business can expect to get many years of service from the first machine they buy. The life expectancy of a cash register is between 10-15 years, with upgrades around 5-7 years.
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    With the development of technology, there are many softwares and machines help business imporved. The POS is a good system, which chould be used in the hospitality and retail industries. It has the ability to save money, quickly process a customer's transaction and accurately keep records. However, it charged more than installing a cash register. When considering about whcih one need to adopt, it's better for the business do a self analysis first. No matter what kind of technology we use, we need focus on provide personalized and customer focused service.
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    if the owner use the cash register, he can get the money directly. he does not need to take out the money out of the bank when he faces to the emergency situation. also the cash register is more reliable and more real. it does not have high risks of fraud and cheat except the fake money. compare to the POS system, the Pos system is convenient and easy operation. customers only need to swipe the credit/debit card that they can pay for the goods. so the customers do not need to bring much money when they are out of home. it is safe for the customers. nowadays, everywhere can receive the master card and almost everyone has one or more debit/credit card. this behavior promotes the development of POS system. easy to carry and consume make people use this way to buy the goods instead of using the money.
Minghui Zheng

POS Systems - Why You Need A POS System - 0 views

  • The high volume of cash and credit cards that pass through a restaurant each day make a POS system a necessary. Not only does a POS system track every penny of your sales, many POS programs also act as credit card processors. This makes swiping credit cards more secure for both the customer and the business. Servers are accountable for all their sales, and it is impossible to alter checks in the computer unless you have the password. This helps cut down on employee theft.
  • Remember all that money you saved on bookkeeping? You may end up spending it on your tech guy, to help set up the POS and perform any trouble shooting. A POS system doesn’t have the same life span as good old fashioned cash register. You will need to replace parts, update software and eventually need to replace it entirely with a new model. New POS systems come with limited warranties and tech support, but just like every other piece of equipment, the problems always seem to start after the warranty has run out. For this problem, you can always buy extra tech support.
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    This is an article simply introduce the basic function of the point of sales system. The author explain the reason it is useful in restaurant business,including reduce employee theft,keep track of sales.What is more, it plays an important role as a bookkeeping system since it help prepare payroll, keep track of food usage and so on. However,more attention should be paid to their drawback because it may result in information losses related to the business transaction. The restaurant manager should be aware of these potential problems and take actions to make it better serve the property.
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    POS system simplifies communications between the kitchen and the wait staff, tracks production procedure. It is a effective tool to organize profit and save cost. However, POS system has the common drawbacks of electronic technology that is the restaurant may lose data if it happens to crash. In addition, restaurant manager need to replace parts of POS system, update software or buy a new one.
Yanqiu Li

New Trends in Retail Point-of-Sale Systems - 0 views

  • new point-of-sale (POS) systems
  • are helping businesses to cut costs in everything from advertising to labor.
  • sumers are being directly marketed to using ever-evolving algorithms, which are boosting impulse buys. One employee can easily manage a dozen new, retail POS systems. These and other new trends in POS technology can modernize any business.
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  • New developments are taking retail POS systems to a whole new
  • level, however, helping to reduce labor costs and increase impulse purchases, both in stores and on-line.
  • Self-Service Equals Labor Savings
  • Quasi-Personalized Advertising
  • Integrating Brick-and-Mortar and Online Stores
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    The article gives a brief introduction of new developments f POS system in retail industry and how retail gain new benefits from that improvement. From the news, we can see new POS system has been improved for retails by reducing labor costs and increase impulse purchases both in store and on-line. For instance, new self-servce POS system in supermarket enables cusotmers to handle self check out reducing time of waiting for cashiers to check. What' more important this new way of checking out make supermarket hire fewer employees to deal with customers' checks. Another example is new electronic ads of recepits which promote sales of other products while customers most of time will pay attention to recepits information inseading of watching traditional ads for longer time.. As more and more websites install new pos systems, customers presents more perference of this new way of shopping online. I believe that when more and more technology come out and be applied into our life, they will definitely effects the way of life we living as they can provides us with more conveneients to our life.
jie shen

The Disadvantages of Using Automated Accounting Systems to Do Adjusting Entries | eHow.com - 0 views

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    The article talked about several downsides of using a automated accounting systems to do adjusting entries.The computer error is possible when making the original accounting entry into the system. While the date loss increases when the entries are made into an electronic system. Companies may also find it  difficult to secure the business against types of fraud, since they are perpetrated by the employees that have permission to access the system.
haojingting

The safety and security of a destination influences travelers - 0 views

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    This article provides us a current issue of the tourism security. According to analysis the safety and security of a destination influences travelers' "go/no go" decision, so the author suggest the destination hotels should have a risk assessment and security management program by use the modern technology. And it provides us a detailed guide line to before starting a risk assessment and security management program, what the hotel and security experts should do, and also it shows us some technologies, which may be helpful for the hotel guests security protection. for example: Electronics - Lock the Door Although some hotels still cling to the old-fashioned door key, Farina stresses the importance of Electronic locks and deadbolts. He is not sure whether a growing interest in the use of cell phones to open hotel room doors provides the same level of safety, although they are gaining international acceptance.
mrive258

7 technologies that are transforming the hospitality industry | Hospitality Magazine - 2 views

  • This brings a new dimension to customer service and marketing, as many industry insiders now consider it essential to have an online booking service, which also requires a well-designed, mobile-friendly website with a simple interface.
  • This brings a new dimension to customer service and marketing, as many industry insiders now consider it essential to have an online booking service, which also requires a well-designed, mobile-friendly website with a simple interface.
  • By integrating with CRM, inventory management and other tools, information on capacity, reservations, stock, loyalty programs and more is accessible at the touch of a button. In addition, cloud-based POS applications are becoming more common, which means that staff can process orders, bookings and payments directly from a tablet.
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  • Attractive images are usually the most popular type of post, so restaurants and hotels should take the opportunity to share beautiful and interesting photos of their food and their facilities
  • However, advanced marketing automation software allows much more complex tasks to be performed, such as emailing customers who have been visiting or clicking on certain areas of the website or social media pages.
  • And an even more revolutionary service will soon be made available, using security technology that allows smartphones to function as room keys.
  • Lighting, temperature, blinds, alarms, TV, radio and room service will all be controlled from a single tablet device, or from a single app that guests can download and login to from their own device.
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    Of particular interest is the online booking systems, electronic point of sale integration and marketing automation software which all ensure hotels maintain competitive.
mikepsantos

VingCard Allure - ASSA ABLOY Hospitality (VingCard Elsafe) - Electronic hotel locks - 0 views

  • Based on VingCard’s RFID locking platform, Allure consists of a variety of wall panels, giving designers freedom of choice with a state of the art design-centric hardware and software solution. Allure integrates VingCard’s most advanced contactless locking solutions into its interior electronics, including Radio Frequency Identification (RFID) compatible locking technology, as well as full compatibility with the Visionline online solution. With ASSA ABLOY Hospitality Mobile Access you can also open your hotel room using your cellphone as a key. Read more about Mobile Access here.
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    The RFID lock hardware are not in all hotels and resorts due to the high expense, but as the technology becomes widespread which will drive cost down it will become the standard.
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    This will be the industry standard in the next decade! Those who do not upgrade will lose market share.
anonymous

What are 'Green' IT Initiatives? | RecycleNation - 1 views

  • So-called Green Information Technology (IT) initiatives have been sprouting up at corporations, organizations and governing entities in a variety of sectors
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    Green practice not only save companies money in the long run, but contribute to creating a healthier planet. Various industries are taking part in the implementation of green strategies to do so. As this article points out, universities are using green IT. The University of Pittsburgh is taking part in several of these. First by using Pitt Printing, which "effort reduces the likelihood of multiple print jobs, according to the university, and also stems the tide of students printing a document and not picking it up. By the university's estimation, this change in technique has saved upward of 100,000 sheets of paper that would have wound up discarded, making it 20 times less wasteful than full-service printing"." In addition the school has committed to using "read green" by reducing paper waste and committing to using electronic copies and using web conferences versus in person interviews for candidates and meetings. Small steps can make a big difference and IT is assisting in the green implementation.
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    I love how you brought up Universities. Its amazing how everything now is pretty much done online. Even professors like everything turned in via email or via blackboard. This saves so much on paper and ink for printers. I believe that one day there will barely or any use for printers and so forth due to the evolution of sustainability.
anonymous

Marriott Redesigns IOS App - 0 views

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    As VP of Digital Marketing George Corbin said, "Smart devices are now everyone's indispensable travel companion, as more and more travelers increasingly expect to have their needs satisfied using their mobile phone." Engaging with guests via applications is an excellent marketing tool and Marriott's recent update allows guests to access the application via Apple electronics. The application is now featured in 6 different languages, allows for mobile check in/out, room upgrades, late checkout, and direct request. Marriott wanted to go above and beyond in its offerings for guests. Exploiting this avenue of marketing allows guests to have an hotelier within their pocket. Guest rewards will be directly accessible and the app will be personalized via preference data and destination content. Ensuring guests have an easy and reliable source as this, allow for more bookings. In the future, the application will allow guests to order from restaurants within the hotel and room service, as well as feature a messaging system that will send out offers to guests.
anonymous

Related Content Topic : Nortel Toronto-based telecommunications-equipment manufacturer looks to new technologies Blog : SOA Governance Morphing into API Management Article : SOA Standards Started at the Bottom How Cloud Computing Could Transform t - 2 views

  • Once broadly implemented, Kenny says it should be possible for a customer to book a flight, rent a car and stay in hotel room and have the entire transaction not only handled electronically, but also fed back directly to their company’s accounting systems for payment. The entire transaction would be devoid of any paper, he said.
  • Today, the travel industry is made up of airlines, hotels, car rental companies and a host of other organizations all offering services around the fundamental need to travel. The problem from the consumer’s perspective is that they have to pretty much engage these companies separately to get to where they are going. But what if they could all be engaged as part of the same transaction?
  • That’s part of the thinking that is going into the development of a new Agilaire Passenger Service Solution that Hewlett-Packard is developing. HP is licensing the RezView NG reservation system developed by Pegasus Systems to create a foundation on top of which the company is building a new scalable cross-company reservation ad billing system that will reside in the cloud.
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    The article talks about a integrated cloud computing system developed by HP for the travel and hospitality industry. It will allow a user to book a flight, hotel and car rental all using one system which will then generate a electronic receipt, thus also rendering the operation paperless. Articles like this shows us that we are in a ever changing industry, our adaptation needs  to be immediate if we want to keep our customer happy. Programs like this let us know that our customer can also come from the most unexpected places in the world, because we are not just providing a service like hotel or restaurant, we are serving a much larger  objective for our customer which is 'the need travel" 
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    This article speaks about combining all aspects of travel and hospitality that guests utilize. For instance, hotel, car rental and flight. This is a really good idea because it makes it easier for the guest to pay for and make travel arrangements.  It also allows for collaboration between the industries which would, as the article says, change the travel and hospitality industry. Creating the system in the cloud makes it easily accessible to all those who would be collaborating. There would be no need to host the server because that would be an extra expense. For this idea to be implemented, serious considerations and development have to be looked at for an internet back up. Should companies accept the Agilaire Passenger Service Solution cloud network, then their success and functionality depends on the constant functioning of the internet.
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    This article talks about how does the tourism industry had develop in the past years and how connected are all the branches that form part of it. Hotels, Airlines, Car rental, are the basics of this industry. With all the technologies growing faster, these business still complain about a miss conection between them. This is what HP is trying to fix, developing a Agilaire Passenger Service solution to create a foundation on top of which the company is bulduing a new scalable cross-company reservation and billing system that will reside in the cloud. the basic idea is to allow companies in the travel industry to leverage a common transaction processing system built using modern Linux, Java J2EE and service oriented architecture (SOA) technologies wrapped around an easy-to-use interface. Where this gets interesting from a business perspective is that if you can break down the transaction barriers between companies in the travel and hospitality industry. We can see how the cloud is growing and helping industries to be integrate all together
Jiabao Han

Ecommerce the New Definition of Online Trade - 0 views

  • The branch of technology that incorporates the electronic media in the buying and the selling process is known as the Ecommerce
  • With the technical world advancing rapidly, and online stores gaining more momentum, environ is such that the consumers buy products regardless of their geographical barrier. This unprecedented growth of the E-commerce website has made this a feasible option making it probable for the sellers to deliver their products all over the world.
  • The various components of the E-commerce Website Virtual storefronts integrated in the website with online catalogs, which is clustered to form a "virtual mall." The demographic data collected through Web contacts. Electronic Data Interchange or the business-to-business exchange of data. Email, Fax and the use of media to promote the future endeavors and to establish the consumers. Secured business transactions. B2B trade and selling.
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  • With groundbreaking popularity in the world, the retailers today prefer to have an online platform.
  • Propaganda by the social networking platform is also popular.
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    Just as a website can be the online brand identity, the ecommerce website enables the entrepreneur to successfully display information about their products and services.
dawn davis

Hacker Will Expose Potential Security Flaw In Four Million Hotel Room Keycard Locks - Forbes - 5 views

  • The next time you stay in a hotel room, run your fingers under the keycard lock outside your door. If you find a DC power port there, take note: With a few hacker tricks and a handful of cheap hardware, that tiny round hole might offer access to your room just as completely as your keycard
  • Using an open-source hardware gadget Brocious built for less than $50, he can insert a plug into that DC port and sometimes, albeit unreliably, open the lock in a matter of seconds. “I plug it in, power it up, and the lock opens,”
  • The ability to access the devices’ memory is just one of the two vulnerabilities Brocious says he found in Onity’s locks
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  • he company also uses a weak encryption scheme that allows him to derive the “site code”–a unique numerical key for every facility–from two cards encoded one after another for the same room
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    A security researcher discovered that he could unlock certain electronic key card entry devices used at millions of hotels by inserting a plug into the small port in the bottom of the key card device and unlocking the door. When he inserts the plug and turns on his device it triggers the mechanism inside that key card device and opens the door in seconds. Granted when he tested this at a conference he was only able to open 1 of 3 doors but it was still enough to show the flaw in the system. It doesn't sound likely after reading the article that there is an easy or cost effective fix to this problem because so many hotels across the world use these devices supplied by Onity. I think the lesson here is to always be vigilant in securing your valuables in any hotel room. Any time new technology is installed there is going to be someone right behind trying to hack it or find the security breaches.
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    Dawn, I wrote about the follow-up article regarding this issue. I can not believe that it has taken Onity this long to correct the issue. I can't imagine why Marriott and other companies haven't address their guests regarding this concern. I understand the negative impact this could have to the business, however the companies should keep in mind safety.
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    Nelson, I went back and read your article, very interesting to see the follow up but I am surprised that it has taken this long to come out. I wonder if this would have been more publicised if it would have put more pressure on Onnity to fix the problem without putting financial burden on the hotel owners? I am curious now to see if my own company has been effected by this issue.
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    That is scary that you can think you are secure and anyone can hack the system and open your hotel room door. Now paranoid people that think they may be robbed by hotel staff, also have to think of outsiders, not even staying at the hotel. Anyone can enter hotels now a days and start opening doors like a lottery system, until they strike gold. The moral, be vigilant while on vacation, because there may also be someone eyeing your stuff. Also, if you have an in room safe use it.
Yookyung Kim

Digital Signage Gives Burger Joint a Boost | Case Studies | | Hospitality Magazine (HT) - 0 views

  • Affordable and customizable communication
  • “We are able to share with our customers more products that we have every day because those are the most important products for us,” co-owner Zach Steffens says.
  • Quick solution for quick serve restaurant
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  • “We can show more items. With the daily specials, instead of changing out those plastic letters, we can just upload it and it runs. If we want to change it midday, it’s really easy to do, which is important because we want the majority of our employees’ focus to be on customer service.”
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    The owners of a Culver's franchise decided to install a digital signage to provide more menu information quickly because the menu board couldn't communicate enough with customers for a short time to select menu in the fast food restaurant. The challenge was how the small business owners and franchisee would handle their budget for the investment and added cost.  The problem was solved by selecting EzSign TV from LG Electronics which displays branded messaging and shows broadcast television or input content at the same time. Furthermore, the software offers a choice of more than 50 templates that can be customized with images and text. Therefore, the business can highlight the items with pictures and deliver their daily specials more efficiently.  Installation is easy, and daily specials menus can be replaced by simply clicking. The digital signage looks cleaner than old fashioned menu board, and saves more time to change menus. By implementing a system that requires limited attention from staff, Culver's can focus on customer service and deliver value. That was a good decision adopting a new technology fits in the quick service restaurants.  
dawn davis

Emerging distribution channels add variety - 1 views

  • By focusing on new methods of selling and engaging consumers or creating demand for hotels, several of these new channels are creating interesting segmentation opportunities.
  • These evolving channels can be categorized into three major types: new search models, mobile/last-minute models and new discount channels, dissecting the broader impact of social media when it comes to online bookings
  • Roomkey.com, which is similar to the TravelWeb portal of the past, represents the attempt of the brands to launch their own version of an OTA. While suppliers remain optimistic about Roomkey.com, it has yet to really catch the eye of consumers and still needs considerable improvements before it starts to offer a viable alternative in the eyes of the consumer.
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  • A variety of interesting newer selling models including tingo.com, backid.com, guestmob.com and hallst.com, can be categorized in a consumer discount group
  • Over the last few years, social media has emerged as a new “channel,” impacting guest satisfaction, OTA channel conversations, brand evaluations and revenue.
  • Now with the emerging social-media channels, user-generated content effects not just brand perception but also revenues.
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    This article discusses the development of new electronic distribution channels for hotel suppliers and consumers to use. There has recently been an emergence of new search engines such as roomkey.com and room77.com that offer a different booking experience than the more established Expedia.com or Orbitz. Roomkey.com is offering a search for high quality hotels with price transparency and links to direct booking on the hotels website. www.roomkey.com Room77 is interesting because it shows the rates of many other OTA websites, all the standards plus some less common sites. You can choose what OTA site you want to book from. The highlight is that room77.com offers floor plans of hotels where you can see the view from multiple rooms and even how far the closest elevator is. www.room77.com Another important emerging channel is mobile phone applications that are geared toward last minute travelers. These channels typically offer a limited inventory at up to a 30% discount. The discount group is yet another new development in distribution channels. Websites such as Tingo.com offer an automatic refund if the price drops after you book your reservation. www.tingo.com Social media also has to be considered. Online reviews can have a tremendous impact on future bookings and hotels have to take this into consideration.
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    Great help for my Strategic Management Class! Thank you...I wish though, there would be more numbers...But thanks anyway
Chenchen zheng

A guide to China's top 10 e-commerce sites - 0 views

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    This article talked about Top 10 e-commerce websites in China. The first of all is Tmall.com, which had the largest market share of China (about 40%). As the market leader, it sells much anything, which following on its Taobao.com with a separate site for retailers and brands to reach out across the country. The second is 360Buy.com, it got about 15% market share of china and cover mainly electronics and home appliances. The next one is the high street electronics retailer-Sunning.com. The fourth one is Amazon.cn. It focuses on selling western products. The ranked 5th is Dangdang.com, which mainly sells gadgets and books. The following one is Vancel.com. It sells its own-brand clothing. In addition, 51Buy.com, Coo8.com,Newegg.com.cn and YiHaoDian.com is ranked from 7th to 10th.
Xin Jing

The End of Channel Management as We Know It | Hospitality Business News - 0 views

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    In the late eighteen-century, customers use postal service to reserve lodging. After that telegraph became effective way to book and reserve. Until 1940s, airlines build a relationship with travel agents and their hotels, an original network was formed. In the end of the 1970s, the airlines provide electronic system for travel agencies to checking availability and reserving airline seats which we called GDS. It offers efficient and costless booking channel. On the other hand, the hotel suffer three commission costs for a single booking which are travel agent, switching company and GDS proprietor. In 1994, Hyatt developed internet distribution system (IDS) which reduce some costs but add intermediary cost. In the last century, the OTAs became a new channel. Customers booking is variables and each channel have its own attendant costs. The hotel should flexible when dealing with the rate, meanwhile carefully monitored the cost of each channel. Therefore the automated channel management system become a trend. Softeware systems now can analyze real-time market data and adjust rate across all the channels 24 hours a day.
ning sun

7 tech issues that keep your GM up at night - 1 views

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    This article talks about 7 tech issues to keep your GM up at night which are convergence, reputation management and review tracking, bandwidth, PCI compliance, in-room technology, technology and ADA, in-room television. In my opinion, as a hotelier, he or she should stand both on manager and guest position to consider operate a hotel. From a manager view, they are trying to make maximum profit with minimum cost. The profit comes from comfortable environment, convenient electronic devices, considerate human interaction. Those 7 tech issue provide a detailed list about how to improve hardware in hotel to reach a cozy and speedy living environment goal. From a guest view, they are trying to gain more delight experience with less expenditure. The devices that hotel provided and service that they rendered lead guests into a homelike place. So those 7 tech issues are beneficial for both two sides.
Carolina Villa

Future Of Ecommerce Article - Internet & E Commerce Ecommerce Articles - 1 views

  • Future of ecommerce
  • Ecommerce commonly known as (electronic marketing) e-commerce or Ecommerce, consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks.
  • TechnologyTechnology is the most important factor in Ecommerce rapid growth
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  • Ecommerce was totally dependent on computer technology just a decade ago, but not now. Mobile phones and handheld PCs can access internet just like PCs do.
  • EasinessAnother major factor is easiness.
  • Competition between Ecommerce (online sellers) is so great that you could order anything with same day delivery option.
  • Price FactorPrice is another factor you can compare prices with rest of the world
  • Safety / GuaranteeAlmost every online seller provides safe product delivery guarantee.
  • Online Gift ShopsOnline gift shops are one of the best domains of Ecommerce.
  • You can book gifts like flowers, cakes, perfumes, stuffed toys, mobile phones etc and send it to your loved ones in anywhere in the world.
  • With time Ecommerce graph will keep inclining as it exploits the nature of human psychology like comfort ness, easiness and tension free shopping.
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    E-commerce is based on the process of buying and selling products or services on the internet or other computer networks. Ecommerce rapid growth in these last years can be accounted to very important key factors, such as: Technology, thanks to this important factor now computers are not the only way for ecommerce, you can also use mobil phones and handheld PCs to make any transaction. Easiness, is another important factor, thanks to it you can order anything with the same day delivery option. Price factor, with ths option you can compare prices with the rest of the world so you can decide which is more convenient for you. Safety/Guarantee, online sellers provide safe product delivery guarantee. Online Gift Shops, you can book gifts like flowers, cakes, perfumes, stuffed toys, etc. and send it to your loved ones anywhere in the world. Thanks to their focus on comfort ness, easiness and tension free shopping ecommerce will keep going further and improving their sales.
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    Yea, I agree with you. Ecommerce proved its significant based on the fact where time is important. In the commercial markets, time plays an extremely important role to both the business and consumers. From the business perspective, with less time spent during each transaction, more transaction can be achieved on the same day. As for the consumer, they will save up more time during their transaction.
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