Transaction processing system is a system that is used to collect and store data about the various transactions and will sometimes be involved in decision-making of the transactions as part of the process. In this case, the transaction is the activity which will change the data that has been stored. Transaction processing systems are categorized into two. These are batch transaction processing, and real time transaction processing.
There are benefits that are achieved with the use of transaction processing systems. One of the benefits is that it allows many users to share information and resources in a network. Another benefit is that there is optimal use of the resources because there will be constant contact of the computers with the humans/users. This goes hand in hand with the fact that computers will be optimized and used to cover the high costs of the computers which have been bought. This is an important process and procedure. This paper will focus on how a financial services company, Voxeo managed to upgrade their customer processing systems with transaction processing systems for optimal performance and management of their customer clientele. It is important to understand the requirements that need to be fulfilled in the creation of the transaction processing system.
Voxeo has a global payments company that offers payment solutions to customers who are located in Asia, Americas, Europe, Middle East, and Africa. It offers prepaid and payroll cards programs which are cost-effective, and efficient. The company has associations with MasterCard, and Visa companies in issuing the credit cards. Before the installation of transaction processing system, the company made use of Interactive Voice Response (IVR) so that the clients could retrieve the account information and update this information and get the history of the transactions that had been taking place in the account.
One problem with this method was that the IVR system was difficult to manage and update. There was a need to ensure that there is a better way in which the customer accounts can be updated. With the use of the old IVR system, Voxeo was not able to launch prepaid cards that could enable dynamic management of the accounts. With the growing number of customers, there was a need to ensure that the systems were able to manage the scalability of the programs.
Voxeo wanted to have a method there was open technologies that would have open standards and would enable delivering of voice transactions in numerous applications. This would enable the customers of Voxeo to be able to make use of the latest technologies. With these solutions it would be possible to have clients making use of the latest technologies and integrating them with transaction processing capabilities.
The solution that voxeo considered would solve the problem is by developing a web-based system that would enable the IVR system to be enabled to support new card programs. Another requirement was that the customer company would be able to manage the addition of the new capabilities to the IVR system. The customer company also wanted to be able to manage the global growth of the customers so that they would be able to increase the pace at which the growth was being handled. This would enable the client be able to have scalability of the new programs and be able to ensure that the growth would be managed and enhanced.
Voxeo Company then embarked on a program that would enable them have a transaction processing solution for the business processes that they were undertaking in the company. They chose Chrysalis Software Company to be able to develop a standard and system that would take advantage of the customers and the standards that had been used on the IVR software. With this, they were able to understand the requirements and integrate the standards with Web-based services that enabled the customers to customize their services for individual card programs so that Client Company could be able to have a console that was used to manage the card system (Balasubramanian et al., 2012).
Positive impact of the solution
With this, the client companies were able to undertaken the management of the card programs. With this, the clients were able to update their account profiles without having to wait for long. With the new configurations and features, the client company was able to customize the messages for the clients. This, way, if there is a need to have a specific message to a contact enters, the details of that contact center would be changed and easily managed (Dykes, 2011).
Implication of the case study
There is a need to ensure that there is proper management of the transactions of the various clients. With the ability to undertake internet banking, there is a growing concern to have reliable transaction processing systems. This is the driving force that led to the client company to want to have a transaction processing system. This enabled the company to process their transactions online and on time.
Voxeo and Chrysalis Software Companies have managed to enable the customers to be able to introduce new card programs with ease and in a cost-effective manner. This is one of the ways of undertaking transaction processing. It is possible to update the client information without undergoing a lot of expenses for the new programs.
Another possibility with the launching of the new platform and capabilities is that the clients would be able to have customized web services. The developer of the program will be able to make the changes that are required at any time without having to be on the premises of the client company. The client companies will now be able to offer transaction processing to the clients and reliability of the time that the systems are running. This is an important development that should be taken advantage. It is important to understand the need for this service and ensure that this process of updating customer account information is easily achieved and done in a secure manner (Rodriguez, Banker, & West, 2011).
Reflection on the case study
The case study shows the need to have a need to have solutions that will cater for customers in a dynamic environment. This case study has shown that there is a growing concern for companies to have a way in which they are able to manage the scalability issues of the business processing. I would be able to integrate the same solution to another company that handles large transactions of customers with time. This is because it is web-based. This is the trend that business processes and transaction processing is taking.
Transaction processing systems are useful in current business processes that require managing different transactions over a network. It has solved the problem of managing client transactions on a network. From the paper, it is clear that that transaction processing system has been effectively integrated into the case to solve the issue of managing the various issues and cases that are associated with the managing distributed transactions. Transaction processing systems will continue being utilized in applications and business processes that will require to maintain integrity when being accessed and used by many users simultaneously.
Balasubramanian, C., Bhagavatula, R., Keresman III, M. A., & Sherwin, F. M. (2012). U.S. Patent No. 8,170,954. Washington, DC: U.S. Patent and Trademark Office.
Dykes, R. (2011). U.S. Patent Application 13/156,934.
Rodriguez, A. A., Banker, R. O., & West, J. E. (2011). U.S. Patent No. 7,962,370. Washington, DC: U.S. Patent and Trademark Office.