Property Management Software: Revolutionizing The Hotel And Real Estate Industry
Managing a property end-to-end is not at all an easy task. It requires lots of patience and skill set to manage every aspect of the property effectively. The best and easiest solution to manage a hotel or a property easily is through property management systems. The concept of PMs has come across long way in the last few years, with more and more ground-breaking features & noteworthy integrations it can effectively help property owners run their businesses effortlessly. It helps to enable a faultless guest experience. Currently, it also incorporates different on-location services which help to manage other hotel tasks such as distribution, housekeeping, and managing revenues, allotting daily tasks, food & beverages and so on.
Features that a property management system should offer
While with every passing day, property management systems are coming up with new features; following is the list of some common property management features:
- Smart calendar- Through this feature, the software helps hoteliers to see and check on their reservations & availability effortlessly and in a very convenient way. The system allows centralized booking through which it can capture bookings from every possible source. Further, it captures the entire guest details to manage everything in details.
- Rate planning- Rate planning is a crucial part of a hotel business and depends on several factors. A good PMS will enable hoteliers to design the rate according to market standards & then appoint those to reservations. The advanced PMS also allows for planning and managing multiple rates.
- Frequent report and analytics- reporting is a crucial aspect of a hotel business which ensures that all operations are moving on the track. A good PMS will ensure that hoteliers get all their reports such as manager reports, sales reports, inventory managing reports, account receivable reports etc monthly/weekly as per their plans.
Apart from the above-mentioned features, some other common features include a direct booking feature, point of sales, databases and channel manager.
Benefits of using Property Management systems
- Enhance check-in and checkout capabilities- a cloud-based PMS system makes front desk tasks much easier. Through this front desk, employees can check the guest list, assign rooms & enable sound guest services effortlessly.
- One-stop destination for all data- All tasks can be performed from one centralized location with the help of a PMS. The workers can access, track and update every information across different departments and locations.
- Increase the housekeeping efficiency- this software alerts the housekeeping staff of the early arrival of guests so that they can prepare the room early and not hurry after the guest arrives. Further, it also helps identify & manage room maintenance.
- Improves revenue management- It connects operations & financial processes in the hotel business.
- Improves customer data management- A PMS keeps all guest data securely. A PMS ensures that there is no scope for hotel booking fraud. Further, it also helps hoteliers to understand the customer purchasing patterns which in turn helps hoteliers to develop targeted packages & services.
In a nutshell, Property management systems provide the end-to-end assistance that a hotel business requires. This automation system helps businesses stay ahead of the curve.