Research on ICT

Background:
This is a mini research project on how Information Communication Technology (like e-transaction broker) change and affect business processes.


Firstly, let us define Information Communcation Technology (ICT) and transaction broker.


ICT
Concerned with the storage, retrieval, manipulation, transmission or receipt of digital data. More importantly, it is the way these different uses can work with each other, making it possible for ICT to be used within a business or organisation as part of achieving goals and objectives.


Transaction broker
Helps to sell products by acting as a representative. They do not own any facilities or products but simply provide a service to potential customers. They are the middleman helping to provide a business link between buyers and sellers, only earning commission for each successful transaction.


With a better understanding of how the transaction broker works, we will go into greater depth with Octopustravel.com as a reference.


Research Report:
Octopustravel.com
An innovative on-line hotel reservation company with offices in London, Hong Kong and Los Angeles, offering 21,000 discounted hotels in 129 countries worldwide.


OctopusTravel is a Travelport Inc. brand. And in turn, Travelport is one of the world’s largest and most geographically diverse travel companies, dedicated to creating the exceptional travel experience the world demands. 


Jestar.com is in collaboration with Octopustravel.com as both act as a complement to one another. Through Jetstar, customers can book their air tickets online and then proceed to book hotel rooms with Octopustravel.com. This simple yet effective partnership saves customers the hassle of searching for reliable hotel and at times, there could even be a discount package which would be extremely pocket friendly for their customers


Functions of Octopustravel.com:
Its website provides information on the following key functional online services: hotel room reservations, secured payment systems and professional customer service care.


Hotel rooms reservations
Unprecedented attention is given to the customer's selection and purchasing process online. The result is that all their customers experience a simple and quick booking process whilst receiving detailed information to allow for informed choices to be made. Furthermore, the website is able to confirm availability of the customers' selected hotel immediately.


To aid in the customers' selection of the hotel best suited to their needs, they provide a full list of amenities and an independent report for each hotel. These are written by travel professionals who have personally stayed in the hotels and they provide an honest and up-to-date appraisal of each property. For most properties they also provide hotel location maps plus interior and exterior photos to avoid any surprises.


Security
Advanced security technology has been incorporated to ensure optimum security for credit card transactions. The credit card information and personal details of every customer are protected throughout their dealings with Octopustravel.com. Their Digital Certificate from Verisign is proof that this website has passed stringent security tests and that all credit card transactions use Secure Socket Layers (SSL) encryption. Their customers will be assured to know that the information they send to Octopustravel cannot be intercepted or decrypted by anyone else.


Moreover, Octopustravel.com is a full member of the Hong Kong Association of Travel Agents (HATA) and 

Travel Insurance Coordinators (TIC), providing customers with that final and complete peace of mind that they are dealing with a truly reputable travel company.

Lastly, Octopustravel.com also accepts many forms of payment such as American Express, Visa, MasterCard to enhance the transaction process and allow people from all over the world to pay easily.


Professional Customer Care
Octopustravel.com pride themselves on offering a service that surpasses their customers' expectations. The Customer Care Centre supports this website with staff on hand to answer questions by telephone and email, thus providing the human interface that even the most confident of web-shoppers appreciate. They have been in the business long enough to know that not all travel plans run smoothly, which is why help is only a phone call away.


Advantages
1. User-friendly interface
2. Money conversion according to your country’s currency
3. Huge variety of hotels from many countries/states for you to choose from
4. Other useful data such as Passport/Visa information, health advices are shared
5. Website can be viewed in 6 different languages
6. Maps are provided for easy reference as to where the hotels are located, with room reviews and photos of the hotels available


Disadvantages
1. Limited number of languages. Should have more languages to attract tourists from various parts of the world
2. Not as well-known as compared to Asiarooms.com, zuji.com etc
3. Many reviews paint a good picture but a quick search on forums and other sites will reveal the negative reviews of the hotels
4. Some parts of the websites are not updated, for eg the maps.
5. Security is an issue as there might be misuse of credit card/customers’ information


Conclusion:
In this fast-moving economy with the invention of modern technology such as the internet, it is not surprising to see entrepreneurs and companies setting up or expanding their businesses on the virtual world to sell their services or products due to the huge savings in costs and great convenience (not having to be physically at the travel agency yet we can book our desired rooms and air tickets) which the internet brings.


Moreover, the transaction process is facilitated by transaction brokers which in turn, earns a commission for each successful transaction. Seeing that the benefits outweigh the disadvantages which the internet and the e-transaction broker might bring, it is no doubt that e-transaction broker, will continue to prosper.