Property management systems also known as PMS or Hotel Operating System (Hotel OS), under business terms may be used in real estate of mind, manufacturing, logistics, intellectual property, government or hospitality accommodation management. They are computerized systems that facilitate the management of properties, personal property, equipment, including maintenance, legalities and personnel all through a single piece of software. They replaced old-fashioned, paper-based methods that tended to be both cumbersome and inefficient. They are often deployed as client/server configurations. Today, most next generation property management systems favour web and cloud technology and offer their software to clients using a software-as-a-service model.
In the hospitality industry a property management system also known as a PMS is a comprehensive software application used to cover some basic objectives such as coordinating the operational functions of front office, sales and planning etc. Automate hotel functions like guest bookings, guest details, online reservations, point of sale, telephone, accounts receivable, sales and marketing, banquets, food and beverage costing, materials management, HR and payroll, maintenance management, quality management and other amenities.Hotel property management systems may interface with central reservation systems and revenue or yield management systems, front office, back office, point of sale, door-locking, housekeeping optimization, pay-TV, energy management, payment card authorization and channel management systems. A full featured product take care of automating all the functional departments of a hotel right from the Front Office, F&B Services, Housekeeping etc integrated with back office operations like inventory management and financial accounting.A good PMS should give accurate and timely information on the basic KPI(Key Performance Indicators) of a hotel business such as Rev Par or occupancy rate and help the Food and Beverage management control the stocks in the store room and help deciding what to buy, how much and how often. The perishability of the main good in the hotel industry (the roomnight) makes these PMS applications a must for a professional management.
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