Top 5 Benefits of Cloud Property Management Software
The speedy progression of cloud computing over the last decade has led countless numbers of businesses within the tourism industry to make the smart switch and start adopting cloud property management software. Compared to the mountain of benefits that these systems offer, traditional ways of managing business processes just don’t stack up!
So… what is Property Management Software?
Property Management Software or a Property Management System (PMS), is a management suite that can be used by business owners and employees to manage daily tasks and coordinate various aspects of their property, such as reporting, payments, guests, bookings and so much more. A specially designed property software can contribute positively to all areas of the business, from streamlining processes for front office staff, to simplifying reservations for guests and assisting owners with overall strategy.
The perks to a cloud-based property management software are vast and varied, so we’ve narrowed them down to our top five!
When it comes to PMS systems, the major selling point for most property owners comes in the form of accessibility. Collating a library of management tools into one centralised system is convenient at the very least, but when all of your data is stored in a cloud-based system, it takes convenience to new heights (literally).
When data is stored in a network of servers, it can be accessed at any time from the one place – you’re not limited to a single location or computer. All that’s needed is an internet connection (landline, satellite, cellular etc) and your data can be accessed in real-time. This also proves handy in the unlikely event of an outage because simply switching to another connection will have you back up and running before you can even begin to fret.
Additionally, getting started with a cloud PMS couldn’t be simpler, even for technological novices, because data can be migrated seamlessly from a previous system so no valuable information will be lost in the import process.
With cloud-based systems, regular updates paired with sophisticated security protocols help to greatly diminish overall security risks. Aside from being safe and sound from any form of data breach, the nature of a cloud-based system means that data is constantly syncing with and being saved in the “cloud”. This makes recovering data simple, ensuring that businesses can keep running smoothly without any significant interruptions in the doubtful event that something does happen.
Hand in hand with accessibility and security, comes cost efficiency. Without a cloud-based system, data has no option but to be stored in physical servers that require costly installation and ongoing maintenance, not to mention a stack of other bills relating to energy and labour. Cloud-based software alleviates this need for spending by doing away with the physical infrastructure aspect, saving scores of funds in hardware and workforce costs alone. The shared nature of cloud-based PMS software also helps to ease costs by distributing the financial load among users, practically providing individual businesses with multi-million-dollar infrastructure that they wouldn’t be able to afford otherwise.
Our personal favourite, and what we believe is the key to success with any PMS software, is overall efficiency – how the system works to make life easier for YOU. Our PMS provides our users with the added benefit of easy integration with third-party connections like accounting software, access control providers, payment gateways, POS systems and more, meaning our clients can manage every aspect of their business from a single platform.
Within NewBook, automation tools allow our users to save both time and money and provide them with the resulting benefit of more hours in a day to focus on the important stuff. For example, our clients can set rules and reminders to automatically send follow-ups, as well as targeted email and SMS campaigns, to ensure their contacts are always informed and responded to in a timely manner. Automating certain aspects of a business’s marketing plan, sending programmed responses, and being able to build on strategy simply by collecting data from automated reports are all things that make admin easy. Which leads me to…
Automated surveys and reports can help business owners gather insights about their clients… and staff. NewBook offers several reporting tools to help our clients monitor their performance, staff, occupancy, revenue and much more. Moreover, insights collected from analytical data can help property owners determine where they should be focussing their energy within their business!
Whatever PMS system you choose to use, it’s clear that cloud-based options are the way forward. By making the move, your property could benefit from user-friendly features that will not only improve the way you do business, but could very well lead to an increase in revenue, greater efficiency, and more time to focus on the really important things… like growing your business!
Author | Brad Illich, Founder & CEO
Published 18 May, 2020