Introduction
Transactions are the routine day-to-day activities performed by most organisations.
· some are commercial transactions (buying, selling products and services, paying bills etc)
· others involve recording or retrieving data (making a booking, enrolling a student at university looking up results etc)
Most individual transactions are relatively simple, but in most organisations, there are very large numbers of them - so speed and efficiency are important considerations.
What is a TPS?
A transaction is any business-related exchange such as a payment to an employee, a sale to a customer, and a payment to a supplier.
- A Transaction Processing System (TPS) is an organized collection of people, procedures, databases, hardware and software to record completed business transactions.
- Most TPSs consist of all the components of a CBIS including databases, telecommunications, people, procedures, software and hardware.
- For most organizations, the TPS is the basis of the day-to-day activities that occur in the normal course of business, adding value to its products or services.
Transactions
Transaction processing is often the core of most major activities in organisations and the systems that collect this data often support other systems that might be decision support, management information or executive information.
A transaction is a fundamental unit of activity in organisations and are generally indivisible. They often involve multiple steps, but if any of the steps fail then the whole transaction cannot proceed
Analysing transaction patterns and volumes of transaction data is an important middle management activity in any business process.
Objectives of a TPS
¨Increase labor efficiency
¨Capture, process and store transactions and produce output
¨Maintain error-free data input and processing
¨Ensure data and information integrity
¨Produce timely documents and reports
¨Provide increased and enhanced service
¨Increase customer loyalty
¨Achieve competitive advantage
Early systems
Typically, transaction processing business processes were among the first to be automated/computerised in most organisations, thus a lot of this early work with this type of system provides the foundation for current thinking about information systems.
The reason behind this is that:
· computer equipment was relatively expensive in these early days
· these systems were among the easier to create
· small savings in the costs to process large numbers of transactions added up to significant amounts that would cover the costs of the expensive equipment
· few other business processes within typical organisations could provide these benefits
At this point, it is also worth noting that centralised systems were initially easier to control and could achieve economies of scale. Grosch's Law claimed that computing power was proportional to the square of the cost of the processor this favoured ever larger centralised mainframes over smaller distributed systems.
Although traditional transactions are completed in a matter of seconds, they also require various middlemen who complicate the process significantly, are not available to everyone, and even take a cut of the transaction.
They have a strong core transaction processing infrastructure for meeting operational needs of a company this size.
transaction is a concern for closing a deal as Kutz put it; it’s a challenge for business to customer to
...ota Production System (TPS) calls for the final product to be pulled out through the process system . This means that parts reach the assembly line in the right place whenever they are needed. This represents a final elimination for traditional system , which require large warehouse and storage in order to push the product as much as possible through the production lines, regardless of the actual demands on the product.
The book Games People Play: The Basic Handbook of Transactional Analysis by Dr. Eric Berne, is one introducing the fundamental concepts of transactional analysis (TA). Transactional analysis a theoretical approach that focuses on the ways in which individuals interact with one another. Berne describes interactional patterns among individuals as “social intercourse” which thrives off of basic human principles.
One of the largest parts of commerce is transaction. Transactions are needed anytime two parties exchange money or information. Since the Information Age has begun, transactions are more common over the Internet, where it is more imperative that transactions are secure (Klein x). Corporations have also become more widespread, which means that cryptography is needed to secu...
Electronic payment systems can enable a customer pay for the goods and services without actually having to see them first. Payments systems such as electronic ones main objective are to improve security, increase efficiency, and boost customer convenience and ease of use. Some forms of Electronic Payment Systems are the following:
System performance is one of the most critical issues faced by companies dealing with vast amounts of data. Companies use database systems and their applications to store, retrieve and handle this data.
This can’t be said enough. The systems your business uses need to be connected and able to exchange information back and forth through an automated process.
It simplifies the storage and processing of large amounts of data, eases the deployment and operation of large-scale global products and services, and automates much of the administration of large-scale clusters of computers.
...ng an acceptable form of transaction.Governments need to be more transparent to the public.A lot of ‘under table’ transaction take place in the most basic everyday services(passport,license, tax).Such services has the capability to go online reducing the red tape as money is only used via online transaction.
E-commerce or electronic commerce is carrying out business communications and transactions through computers and over networks. It involves buying and selling of goods and services through digital communication. E-commerce also includes transactions on the World Wide Web and the Internet and means such as electronic funds transfer, smart cards and digital cash. E-commerce covers outward facing processes that interact with customers, suppliers and external partners such as sales, marketing, delivery, customer service, purchasing of raw materials and supplies for production.
ERP provides an integrated real-time view of core business processes, using common databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The applications that make up the system share data across the various departments that entered the data. ERP facilitates information flow between all business functions, and manages connections to outside stakeholders.
One of the reasons why banks adopted this new system, was the ‘boom’ in online shopping and the need for an online payment platform. For the bank themselves, online banking reduces customer service staffing levels, as well as improving speed and flexibility of business transactions. (Shih and Fang, 2004)
In our world, people rely heavily on the power of technology every day. Kids are learning how to operate an iPad before they can even say their first word. School assignments have become virtual, making it possible to do anywhere in the world. We can receive information from across the world in less than a second with the touch of a button. Technology is a big part of our lives, and without it life just becomes a lot harder. Just like our phones have such an importance to us in our daily lives, database management systems are the same for businesses. Without this important software, it would be almost impossible for companies to complete simple daily tasks with such ease.