Understanding Business Tools and Technology in Hospitality

Business Tool

Any asset that helps or assists the organization to achieve its stated aims or objectives.

Business Technology

Describes all technology that helps an organization run its business and operational processes.

Communication Software

Allows businesses to discuss projects and plans with employees, even remotely.

Security Software

Helps keep electronic content safe, preventing unauthorized users and inputs.

Information Technology

The technology that employees use, including computers, internet systems, printers, mobile devices and software applications that help them organize and prioritize work.

Common Business Tools

Includes mobile and landline telephones, scanners, brochures, facsimile, manuals, software, email, business website, etc.

Benefits of Business Tool and IT

Includes increased productivity, lower business costs, increased work efficiency, larger business reach, increased business security, decreases staff workload, boosts revenue, improves access and sharing of information, enables better planning and management.

Challenges of Implementing New Technology

Includes lack of knowledge among top management, high initial investment costs, and resistance to change from personnel.

Types of Business Technology

Broad spectrum of hardware and software solutions that enables organizations to gather, organize, and analyze data.

Payroll

To transfer payment to employees and contractors during each pay period, some processes are entirely automatic.

Hiring

Businesses can access job forums to gain talent from around the world.

Task Allocation

Both offline and online processes for distributing tasks among employees.

Importance of Training

Crucial consideration when selecting and implementing business tools, ensuring employees are equipped with necessary knowledge and skills.

Process Tools

Tools that help streamline and manage business processes.

Employee Related Tools

Tools that assist in managing employee-related tasks and functions.

Decision Making Tools

Tools that aid in making informed business decisions.

Control Tools

Tools that help monitor and control business operations.

Inventory Control Systems

Systems that help manage inventory levels and stock.

Accounting Systems

Systems used for managing financial transactions and records.

Telephone Communication

Use of telephones for communication within a business.

Networking

Connecting computers and devices to share resources and information.

Technological business tools

Tools that help employees better cooperate, collaborate, and communicate.

Employee-Related Tools

Resources for managing, training, and evaluating staff.

Decision-making Tools

Tools that support informed business choices.

Control tools

Systems used to monitor performance and ensure quality.

Information Technology (IT)

A broader term that includes both hardware and software systems used to collect, organize, and analyze data to meet business goals.

Software

Programs or applications that run on computers or devices to perform specific tasks.

Hardware

Physical tech equipment like computers, printers, mobile phones, etc.

CRM (Customer Relationship Management)

Systems that help manage a company's interactions with current and potential customers.

Business tools

Any assets—physical or digital—that help an organization achieve its goals.

Common examples of business tools

Phones, scanners, manuals, brochures, software, emails, and websites.

Benefits of using business tools and IT

Boost efficiency, lower costs, improve work accuracy, expand a business's reach, enhance data sharing, and help in better planning and decision-making.

Challenges of implementing new technology

Lack of tech knowledge among top management, high startup costs, and resistance from staff.

Importance of training

Ensures employees know how to use tools effectively, reducing mistakes and improving output.

Technology for business operations

Technology used specifically to run and support business operations and processes.

Customer service software

Software that helps manage customer interactions and support.

Accounting systems

Systems that manage financial transactions and reporting.

Logistics platforms

Systems that manage the flow of goods and services.

Back-end systems

Systems that support the internal operations of a business, such as payroll.

Inventory management tools

Tools that help track inventory levels, orders, sales, and deliveries.

Networking systems

Technologies that connect computers and devices for communication and resource sharing.

Telephone communication tools

Devices and systems used for voice communication in business.

Business Tool

Any asset or resource used to help an organization meet its goals

Planning Tools

Tools used for setting goals and developing strategies.

Process Tools

Tools that help improve business operations and workflow efficiency.

Record Tools

Tools for storing and organizing business data and documents

Security Software

Tools that protect business data from cyber threats or unauthorized access

Payroll system

Tech used to automate salary and contractor payments

Inventory Control System

Software that tracks stock levels, orders, and deliveries

E-Tourism

Umbrella term that incorporates the entire range of ICT applications in the hospitality area.

E-Hospitality

Supports companies in transforming digitalization into a competitive factor.

Training

The process of educating staff on how to effectively use new tools and equipment.

Technologies in E-Tourism

It accelerates digitalization, develops products and services, and supports the development of sustainable and smooth service solutions.

E-Travel Agencies

Covers all technical means used to handle information and aid communication.

E-Tour Operators

The internet, electronic payment system, mobile phones, C.R.S., G.D.S, virtual reality, online word of mouth.

Benefits of E-Tourism

Ease in booking, better destination planning decision, easy payment, lowering of cost, well-organized distribution, employee empowerment, enhanced market penetration.

Resistance to change

A common challenge when introducing new tech, often from employees.

Communication software

Applications or platforms that allow remote communication.

Task allocation

The process of assigning specific duties to team members using digital or manual systems.

Networking

The linking of devices to share data and resources.

Real time details

Information available instantly as events occur.

More communication channels

Increased methods for exchanging information.

See before you go mode

A feature allowing users to preview destinations before visiting.

Easy reservation

Simplified process for booking services or accommodations.

Sharing of travel experiences online

Users posting their travel stories and tips on the internet.

Digitization

The digitization of all the processes and value chains in the tourism, travel, hospitality, and catering industries that enable organizations to maximize their efficiency and effectiveness. (Buhalis, 2003)

E-Tourism

The term "e-tourism" refers to the use of e-business systems in the tourism industry.

Electronic Tourism

Also known as electronic tourism or digital tourism.

Information and Communication Technologies (ICTs)

It is the use of Information and Communication Technologies (ICTs) in the tourism industry.

Online Presence

Buying/selling monetary transactions online.

E-Business

E-Business transforms the tourism industry.

E-Management

Connects critical business systems directly to its customers, employees, partners, and suppliers using Internet technologies.

Reservation Systems

Travel agencies operate various reservation systems, which mainly enable them to check availability and make reservations for tourism products.

Smart Destinations

Smart destinations are tourist areas that can be defined as innovative, accessible and consolidated spaces in a given area.

Technological Infrastructure

State-of-the-art technological infrastructure that guarantees the sustainable development of the territory.

E-Commerce

Is the transaction of goods and services between businesses or between consumers themselves over the Internet.

E-Commerce Transactions

Transactions are not limited and involve use of only one website.

E-Business Strategy

Is a subset of an overall e-business strategy.

Multiple Websites and CRMs

ERPs that connect different business processes are used.

Intelligent Tourist Destinations

These intelligent tourist destinations facilitate the interaction of the visitor with the environment.

E-Business Models

E-business models include E-business, C-Customer/Consumer/Citizen, G-Government, E-employee.

Difference Between E-Commerce and E-Business

E-business involves conducting business processes through the web, internet, or extranet.

Key Activities in E-Business

Key activities include online buying/selling, customer service, payment processing, and supply chain management.

Partner Collaboration

It also supports partner collaboration, information sharing, employee services, and recruitment.

E-Commerce

Conducting key business functions over electronic systems.

E-business

Carrying out commercial transactions online.

B2B

Transactions between firms.

B2C

Describes firms that sell goods or services to a final consumer.

C2B

Involves customers offering products or services to businesses.

C2C

Applies to transactions between consumers.

G2B

Government to business transactions.

G2C

Government to consumer transactions.

B2B2C2C

Describes the all-in-one platform for interactive transaction of selling goods or services among firms and consumers.

B2B Business Model

Facilitating online sales and improving relationships with employees, businesses, citizens, and other government agencies.

B2C Business Model

Describes the business model where businesses sell directly to consumers.

C2C Business Model

Facilitates transactions between consumers.

C2B Business Model

Streamlining procurement processes and improving supply chain efficiency.

E-Government Models

Provides and improves online services and transactions with various stakeholders.

Mobile Commerce

Delivery of e-commerce capabilities via wireless technology.

E-Payment

Electronic transfer of money from one account to another.