In the last years, there have been major changes in the way we do business connected with globalization and dynamicity of the global and local markets. The digitalization of enterprises has coincided with the quasi end of the former old world of paper documents, physical signatures, faxes and lengthy archives. Unfortunately old practices and procedure are still in place, creating a roadblock for companies and limiting their potential growth. In particular, we see a great disconnection between the administrative routines and sales and procurement operations, still not organically integrated, and with communication procedures that are limited to few emails exchanges. Consequently we see in the current businesses even a greater challenge in integrating the diverse aspects of most of traditional practices, with the large, unstoppable increase in digital transactions.
Some companies have decided to keep their classic schemes, and to incorporate some new applications and software without integrating those in the real practises and processes of the organizations. Meanwhile, others have preferred to completely re-design and simplify their overall business processes with a tool that could connect most of the function, the Transaction Management System (TMS).
Which are the Transaction Management System’s functions?
And how are they helping companies?
A TSM is an integrated, feature-rich system that saves time and money. This web-based system enables better and more efficient control, management and productivity of your business. It helps to improve and increase performance; it entails sustainable cost savings, while helping risks mitigation. Therefore, it has direct impacts on both compliance and financial performances.
How does TSM achieve these results?
- By gathering the overall transactions in one centralized, web-based workspace.
- By establishing a consistent and dynamic framework to manage and monitor transactions
- By improving communication and collaboration among parties. Employess and customers.
In some sectors, such as real estate or finance, TMS is highly widespread. Moreover, this system aims to extend in other business sectors, such as facility management, logistics and mobility services, constructions, tourism, digital services and online stores, etc.
What is new on a Social Transaction Management System?
What other benefits does it bring?
The essence of the Social Transaction Management System or STMS lies in providing companies with a system that offers good management tools, the simplification of business exchanges and lower IT costs. A virtual place that brings together core business functions and transaction workflows, with customers’ relations. A system that enables direct connection with other social networks’ users that could increase the company outreach and business potential.
Working in cloud
STMS is developed in a “cloud” environment, thus adapting to new demands for access through multiple platforms, different locations and diverse time zones. A cloud reduces dramatically the IT costs of the company and is an interesting opportunity to improve the efficiency for mobile business, franchises, multi-branch companies, start-ups, etc. Businesses become more efficient and productive by dealing in a single digital environment, which means replacing tons of papers and bulky archives on the one hand, and replacing the sometimes-messy dispersion of information and other web-based resources, on the other.
Social Media Marketing
As already stated, STMS works with social networks and mailing lists. It addresses to another core feature of digital commerce: the social link. Social networks are key information sources; they are roads for accessing products and services for actual or prospective customers or producers. Even though they are not marketplaces per se they can extend your market reach and therefore are linked to promotion, sales, marketing and customers’ loyalty. Once the users are linked, they can easily post their listings to Google+, Twitter, Facebook, Linkedin, and interact with them via the platform seamlessly. At the same time, this system can be used in a P2P relationship, thus allowing connections to other individuals or companies, through a safe environment for sales or collaborations. These are key ways of solidifying your business web presence, a core step to digital marketing.
Users can automate their workflows, use different protocols for each opportunity, manage their agents and their productivity, customise the information required and identify clearly the parameters to negotiate, set up shared calendars, for specific deals, check transactions’ status and their compliance, generate automatically contracts and process payments online, automatically update clients and/or partners contacts.
Transaction Documents at your Fingertips
Users can access to transaction document templates, can customize contracts templates, they can differentiate terms and conditions based on each deal characteristics, share documents with counterparts and finalise transaction in compliance with their internal processes and procedures.
Therefore working with STMS means growing simplification and efficiency, saving time and money while making more effective and safe transactions.
In the competitive and globalized markets, joining STMS makes the difference between simply surviving, and actually thriving in your business!
Exrade is promoting an innovative Social Transaction Management System called Trakti which includes all these features, and evolving, bringing your companies into the future of Enterprise applications,.
We are currently looking for companies and partners who might be interested in our service, looking for new ways to optimise and improve the productivity of their business via new market opportunities and tools.