property management system (PMS)
A property management system (PMS) is a software application for the operations of hospitality accommodations and commercial residential rental properties. PMS is also used in manufacturing industries, local government and manufacturing. A property management system is sometimes referred to as a hotel operating system or hotel OS.
PMS provides a centralized computer system to organize, schedule and perform the day-to-day functions and transactions involved in accommodations businesses. Computer record keeping and PMS have increased the efficiency of hospitality industries significantly simply by making it possible to update and consult centralized records from multiple computers and devices. PMS solutions have been customized for the needs of the hospitality industry to further increase ease of operations.
Functions managed by a PMS include automation of many common tasks, including:
- Bookings
- Check-in and check-out
- Telephone systems integration
- Point of sale (POS) integration
- Event planning
- Food and beverage costing
- Hotel inventory supply management
- Reporting of key performance indicators (KPI)
- Security and room locks
Local governments sometimes use PMS to manage numerous properties under their care, where centralized and electronic record keeping greatly increases efficiency. Facilities might include schools, sports and recreational facilities, community gardens and parks. In manufacturing, PMS is often used to keep track of materials and supplies, as well as employee-owned property and equipment.