As a property manager, you understand the importance of having effective property management software (PMS) to streamline workflows and ensure business success. However, did you know that the Reservation Manager is the primary engine in any good PMS? Today, we explore the role of the Reservation Manager in PMS, why it is critical to the platform’s performance, and what sets the best-in-class PMS solutions and their Reservation Managers apart from average ones.
We answer these questions while offering fresh perspectives to help you determine whether your current PMS has a strong Reservation Manager that is fuelling your business success to the fullest extent or, instead, holding you back.
What is the Reservation Manager in a PMS ecosystem?
The Reservation Manager is the part of the PMS where property managers spend 80% of their time managing their business and close to 100% as it relates to guest engagement. Experienced PMs know that effectively managing reservations with a Reservation Manager requires dynamically responding to a myriad of needs that extend beyond reservations and into other workflows, often relying on additional tools and solutions. Therefore, besides having a solid Integrated Communications infrastructure, a good Reservation Manager should have robust Inquiry Management, Booking Management, Payment Management, and Guest Management solutions, each with its own extensive set of powerful features.
While no two PMS platforms are the same, the above illustration depicts most of the key solutions and feature sets that should be included in a provider’s Reservation Manager before they can legitimately claim to have a comprehensive PMS offering.
Key Features of a PMS Reservation Manager
Reservation Manager-related solutions are those required to service a guest booking from first inquiry through to post-check-out, as opposed to servicing property owners or their properties or managing your wider business. There are also complementary solutions, which, while distinct from the Reservation Manager, still aid the managing of reservations. Integrated Digital Signature solutions where guests digitally sign their rental agreements, or online Arrival Form tools where they submit information you require are common examples. Booking Engines and Guest Apps are additional examples, but a good PMS will have many other solutions, such as Integrated Accounting, Trust Accounting, and Marketing & CRM that are completely distinct from managing bookings or servicing guests.
What Makes a Reservation Manager Best-in-Class?
To distinguish between average and best-in-class Reservation Managers, quality and quantity are both crucial starting blocks. However, the quality of features should not be compromised for the sake of quantity. Each feature should be bug-free, intuitive, and highly pliable to flexibly cater to different needs. Then comes quantity. It is also crucial for the PMS provider to offer an extensive Reservation Manager, similar to the illustration below. This basic threshold is more than enough to discount the vast majority of PMS systems from contention as best-in-class providers.
Yet there is more to identifying a best-in-class PMS system than just quality and quantity. Ultimately, it’s the design and the extent to which the system is built around an “Integrated Architecture” that sets it apart, improving performance and producing new incremental value for its users.
In conclusion, a strong Reservation Manager is critical to the success of any PMS, and Integrated Architecture is what sets the best-in-class Reservation Managers apart from average ones. Don’t miss our future blogs to learn more about the concept of Integrated Architecture, why it is so important in identifying the best-in-class solutions for the Reservation Manager level and the entire PMS system, and much more.
Want to experience the power of the 365Villas PMS for yourself? Book a demo today to learn more about how we can help streamline your reservation management process and boost your business.