If you are a hotelier, you would agree that managing a property in the 21st century is not a cakewalk at all! to ease the process, you may be considering hotel PMS Software. In this blog, we will discuss some pointers to hold you from mistakenly choosing the WRONG property management software solution.
A lesser priced one might be good for your pocket, true. Under no circumstances will such a Hotel PMS be able to fulfil your basic requirements. On the other hand, a higher-end feature-loaded one will burn a hole in your wallet, yet most of its useless features will hardly be of any use to you. Investing carefully in the right property management software will have a significant influence on your business’ productivity and revenue bottom-line. Believe it or not, with an efficient hotel PMS software, your property will keep moving and working efficiently round the clock with minimal human intervention! Putting your heart, mind, and soul on these lines, skim through the below listed crystal-clear compilation of some of the most important features that you need to look for in your hotel property management software.
1) Business Intelligence
If reports are important for your hotel’s smooth operation, you need a PMS. It will help you implement a more strategic plan in place. Any property management software that you select needs should be able to combine, generate and collate reports of all sorts. Such intelligent reporting with relevant filters will ensure you gain insights on your property’s overall performance.
2) Document Manager
Storing documents ideally becomes more convenient within a PMS system. As a hotelier, you need to have a place to safely store and retrieve documents from. As and when needed, for instance in order to lease a space or rent a home, all the relevant paperwork for these processes become accessible within a property management software. Trust us! Once you take some time to store and organize all your papers within a robust PMS software, you will surely thank us later.
We are 100% sure that Housekeeping is the most basic operation of your hospitality property. Wouldn’t it be nice if your PMS keeps a tab on your housekeeping module as well? That is actually possible! A smart property management software should come with a point of sale feature that can be integrated with room management. Using it will ensure that you enjoy an extremely simple billing and check-out process, that every employee can understand as well as use easily.
4) Intelligent Pricing
Advanced PMS software systems come with integrated pricing intelligence. This is powered by artificial intelligence and big data. This feature is a boon for properties of any size located in any part of the globe. What is pricing intelligence? It is the system of gathering information pertaining to real-time consumer and competitor activity. Pricing intelligence is closely linked with yield management. As a hotel owner or a revenue manager, you can use such a system to make intelligent business-critical and data-driven decisions. If your PMS has an inbuilt pricing intelligence software, you can come up with multiple competitor sets to track their rates as well as occupancy for any duration of time. Basically, you can leverage the power of Benchmarking your performance against your competitors. In the end, you end up with a well-optimized pricing strategy.
5) Communication Systems
When it comes to handling tenants, teams and staff, you will not need multiple portals working in silos, if there is one good PMS around. A property management system comes with a unified interface integrated with multiple online capabilities. This smoothens communication channels and makes interactions between people and systems faster. As a hotelier, you end up saving time, speeding up processes and enjoying an easier life altogether.
6) Sales and Marketing
Most hotels these days are applying online marketing strategies. In order to have a robust sales and marketing plan in place, your hotel property should be able to compete with OTAs, meta-search engines, review sites, social media and aggregators on social media platforms. A good property management software will also come with an in-built online reputation manager. Your property management system’s ORM should be able to link up with social media platforms and review sites. These include TripAdvisor and Trivago like metasearch sites as well. It will also ensure that you enjoy successful sales and marketing plans through a Channel Manager. With a channel manager connection, your property will talk to OTAs and GDSs via the PMS. This will ensure the real-time distribution of room inventory. It will also pave the way for dynamic pricing. So, choose a PMS that includes all this and more to build upon your revenue at great speed.
7) Accessing Information on the App or a Mobile-friendly Site
With a good PMS, you can add transactions to various linked accounts. If you have a POS in place that is handling payments already, you can access all of that data within your unified property management software.
Things you should avoid while choosing a Hotel PMS Software
Do not pounce on cost-benefit alone:- Do not choose the one that costs the least. It will not fulfil all your requirements. Go for the one that will give you higher revenues for sure. Weigh the PMS against the ROI.
Do not get carried away with attractive features:- Features that look glitzy and high end will not boost your bottom line. Enlist your hotel’s requirements and match them with the features of your PMS.
Do not overlook technology:- Your hotel should keep in tune with the latest technology. Avoid outdated property management systems. This was just a trailer. Basing these pointers, you may choose a property management system that is highly integrated and manages data efficiently. Once you start using a smart property management software, you will yourself be able to add a multitude of features to our list. 🙂 So, what are you waiting for? Start using a PMS system today! Feel free to leave comments on this article and share your thoughts on what else you expect a good property management software to do for your property.