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Softinn Solutions Sdn. Bhd. Business & Entrepreneurship

Autor:   •  October 10, 2018  •  1,791 Words (8 Pages)  •  531 Views

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Opportunities

Softinn sees the hoteliers are aware of having own brand is important as the visitors are more likely to look for more information such as room availability, photos and so forth on the hotel’s official website. This means the quality and the user-friendliness of the website decide their sales. With the good product and service provided by Softinn, after 3 years of journey Softinn has gained good reputation among the hoteliers and now people around the world come to Softinn including the hoteliers from local, Indonesia, Vietnam and China. Now, Softinn has expanded their service and product to the new market in Indonesia and Vietnam. Not only has these, the China's Leading Online Travel Agency, Tuniu approached Softinn to have collaboration because of Tuniu needs Malaysia hotels data such as rate and availability to be available on their site. It is difficult for Malaysia small and medium size hotels to manage their booking calendar on their own on Tuniu. Thus, Softinn acts as a bridge between China and Malaysia to provide information of the hotels to Tuniu via API so that Tuniu’s server can get the lasted information of Malaysia’s hotels.

Softinn is also plan to launch a new product range besides booking management system, which is marketplace (an OTA by Softinn), and property management system. As they provide free use of the management system and free SMS notification feature to the users will make the users stick with them longer than selling off a website to the users as they look for long-term revenue, which is getting commission on each deal.

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Threats

The threat to the Softinn’s team is even though they are knowledgeable but they are still new in the industry. They have to face strong competitors like Buuteeq, an USA based company that acquired by Priceline with 98 million USD and another one is FastBooking, an Europe based company that takeover by Accor Hotels Group. Both competitors are experienced in this industry and join force with large corporates, which has better sources than Softinn. These competitors target on 4 star and 5 star hotels while Softinn is target on boutique hotels. Softinn aims for 20% of market share but currently holding only 8% market share in Malaysia. They need to be faster in order to achieve 20% of market share to be the market leader.

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Business strategies and Future plans

Softinn started the business with the objective on helping more boutique hotels customers to be able to make direct booking via their hotel website without the needs of going to the online travel sites to make the reservation for their hotel. Although, there are around 850 hotels and lodges that is currently using Softinn for their services but they does not feel that they have accomplished their objective yet. Since they are being invested by Axiata Group Berhad, one of the leading telecommunications groups in Asia with approximately 320 million customers, they have to pinpoint or more focus on their target before planning for their future plan for their business strategies. Besides, Softinn limited workforce in their company which is around 13 permanent employees in the company are also their reason why they are still focusing on their objective rather than making future plan or business strategies that.

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Summary

Entrepreneurship has played an important role as a primary job creations in our economy nowadays. It is not only about creating jobs and wealth as it is also about bringing solutions that can solve the society problems, providing inspiration and innovation that can brighten our future. They create opportunities and go after their dreams no matter how tough are the difficulties. They are the individual who lead the business and nurture them to growth and prosperity. These people are known as entrepreneurs.

From the interview, we have learned a lot about Mr. JeeShen when interviewing him. Starting a business is not an easy job because you may encounters failure when handling the business challenge. Mr. JeeShen effort and determination without giving up even he faced difficulty during his business has made him to become who he is today. Although he did faced failure in one of his company, he never gives up and started another business which is now called Softinn Solutions, a travel-tech company. This positive attitude has lead him to become an successful entrepreneur.

Besides that, most important characteristics that an entrepreneur must have in order to start a business and successfully sustained in the market. These characteristics are determination, self-motivate, self-confidence and persistent in problem solving. Without these characteristics, the road path for an entrepreneur will be tough.

Last but not least, we would like to thank our lecturer for her guidance and also thank Mr. JeeShen for taking the time from his busy schedule to meet with us.

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References

- Softinn Solution Website. 2017. Softinn Cloud Hotel Reservation System. Retrieved from http://mysoftinn.com/

- About Softinn. 2017. How Softinn Started. Retrieved from https://www.mysoftinn.com/Home/About

- Facebook. 2017. Softinn Solutions. Retrieved from: https://www.facebook.com/mySoftinn

- Behonce Beh. (2016, May 16). Booking management made easy. Retrieved from http://www.focusmalaysia.my/Enterprise/Booking%20management%20made%20easy

- Eng Chieh. (2017, April 25). Direct Booking VS. Online Travel Agency. Retrieved from https://blog.mysoftinn.com/2017/04/25/direct-booking-vs-online-travel-agency-what-hotel-need-to-know-in-2017/

- Yon Heong Tung. (2016, June 16). Hotel e-commerce solutions startup Softinn wins Echelon Asia 2016 TOP100. Retrieved from https://e27.co/hotel-e-commerce-solutions-softinn-crowned-champion-of-echelon-asia-2016-top-100-20160616/

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Appendices

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