It does not matter what you are using in your business right now – paper ledgers, spreadsheets, accounting, or any other software, there will come a time for the right change. Contrary to popular opinion, however, this change isn’t something to dread. If anything, it is something you should embrace and anticipate.
When it comes to migrating to a new property management system, there are a lot of things you would want to consider. Chief of those will be if this new system will serve you efficiently. Nothing beats that. To ascertain that, you would want to have proof that the system can do all that it says and for how long you would be able to use it.
There are other things you must consider when you sense it’s time to migrate to a new property management system and we will discuss them in this piece. Before then, however, we will discuss why you would want to make the move in the first place. Afterward, understand what is involved in the implementation as well as cleaning data and proper onboarding.
Are you ready to learn how to migrate to a new property management system the right way? Let’s get started!
Why move to a new property management system?
The benefits of moving to a new and better property management system cannot be overemphasized. It is all the good things you can expect.
1. A new property management software saves you time
There are often repetitive tasks like accounting and guest management that take a lot of time in business management. True, these tasks are important but there is a better way of using the time. With the new property management software helping you handle all such repetitive tasks; you can have enough time on your hands to do more important duties.
Needless to mention that if you desire to streamline your workflow, wasting time with needless manual, recurrent and inefficient tasks is not the way to do it. A new property management software like BookingNinjas will help you save time.
2. Saves money
A new property management system helps you save money. The saying ‘time is money' is true because when you can save time, you can focus on money-making tasks and deliver results effectively.
Aside from time management that leads to saving money, migrating to a new property management system also often has bundled services that lead to money-saving benefits. Such bundled services include guest management, payment processing, and finance management.
3. A new property management system grows your business
When you migrate to a new property management system that does its job well, it won’t be long before you optimize growth in your business. A new property management system supports your business growth through better digital engagement, better guest experiences, and improved data analysis.
Understand what is involved in the implementation
Getting the most out of a new property management system is dependent on fully understanding all that is involved in its implementation. First of all, you must know that time and effort will be required on your part during implementation.
Also depending on the size of your business and the size of the system, you might need someone on your team to be in direct contact with the system provider’s implementation experts.
Ideally, the implementation process will begin with an initial call between you or someone else in your team and the system’s provider. You will need to take time to understand how the new property management system works and how it will improve your business. The provider will be saddled with the responsibility of understanding your pain point and letting you see how his system can help you.
Once you are convinced that the system will help your business, then you can begin implementation. The whole process from initial contact to the end of implementation can take up to three months, so you might need to exercise patience while the provider does their job.
Of course, you should be carried along in each stage of the implementation as this helps to keep the trust intact. Don’t hesitate to ask questions when you are not sure how a feature works or if you hope the system has a feature and you are not sure it is included.
Now that you understand what is involved in the implementation, what are the next steps to take?
Clean up data
One important task you would need to perform especially if you are using a property management system before planning to migrate to a new one is cleaning up your data. Simply put, you have to clean your data before migrating.
Even if you have been using paper ledgers, you still need to be sure that the data you are putting in the new system is correct and up to date. Due to various reasons, your data might be incorrect or not up to date, what will be disastrous is to put the incorrect data in the new property management system. Doing that will make the overall implementation difficult and put your business at risk of failing.
Now, how do you clean up data?
- Check all inspections and maintenance tasks that need to be closed off
- Review personal information of management and property guests
- Crosscheck rent or lease renewal dates
- Review outstanding invoices
- Remove all irrelevant information from the database
Onboarding
Next is to welcome the new property management system to your business. The provider has done the hard job, you have cleaned your data and it has been inputted into the system, now you can begin work, right? No. You have to attend onboarding sessions.
You are not expected to understand how the system works overnight which is why the onboarding session is important. Depending on your business size and the robustness of the system, the onboarding might include multiple sessions and training of more than one person on your team. Whatever form it takes, the goal here is to ensure that you get the value of your money and more from the new property management system.
In the onboarding sessions, you will get to ask your provider questions concerning the different features, workflows, and how the dashboards work.
Essentially, you can expect the onboarding divided into sessions such as;
- Introduction to core features and functions
- Property management functions and roles
- Property guests management functions
- Finance management
- Strategy implementation and third-party apps integrations
- And many more.
If the system’s provider has a knowledge base or help center which has videos, articles, and videos that can help, they will also direct you to them. The knowledge base will help you during and after the onboarding sessions to get the most out of the new property management system.
After all, is set and done, you can now go live while you inform your clients about the new change and what they tend to benefit from the system. Even after the implementation, you should still be in touch with the provider’s customer care team so they can help you in case of any issue.
Conclusion
A new property management system could be all that your business needs to access the next level of growth. Not only will you be able to save time and money, using a well-rounded property management system positions you as an industry leader.
For property management systems like BookingNinjas, you can manage your property on the go from anywhere in the world at any point in time. That means you are never restricted by device or location to effect all the right changes that your business needs to thrive.
BookingNinjas is a property management system you can trust. It has all the right integrations and is more customizable to your property than any other system around. Check it out now.