Property management systems also known as PMS under business terms may be used in real estate, 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.
Property management software continues to grow in popularity and importance. As it decreases in price, smaller companies and amateur property managers are able to function using some of the same best practices and efficiency as larger companies. Online asset management software (OPMS, or online property management software) has been a major cause of the price declines. In addition to the core property management software options, there is a quickly growing number of closely related software products being introduced to the industry. Like the online property management software, most of these products are also online software, also known as software as a service (SaaS). This approach to software typically makes the barriers to entry far lower than the traditional box software alternatives. Many of these options are available for a demo period at no cost. While there is often a set up or licensing fee required at the time of implementation, the product cost is paid as a monthly fee and service contract often offer flexible terms. Like other non-product oriented services, the SaaS product will have a non-performance clause allowing the customer to discontinue service if the terms of the contract are not met by the provider.
Another benefit to these types of products/services is that upgrades are performed on the server-side by the software vendor and therefore require far less, or even no change management at all. While the software seller may choose to increase monthly costs at the renewal stage of the contract, there is no direct Upgrade cost as found in box software products. Many software services will also perform intermediate releases that have no noticeable change in product features, but they may repair many bugs and have iterative augmentations that have a positive effect for the user without having to install patches on their PBACK TO SERVICES