Land management software or LMS is a very handy tool for an organization that is involved in large-scale land acquisitions, development and usage for various purposes. The system almost completely automates all the financial, operational, legal and regulatory compliance requirements. Every such LMS has a set of features useful for brokerages, the oil and gas industry, and for government agencies or records divisions with huge spatial management requirements.
Broadly speaking, the system can be divided into two parts, with one focused on the acquisition process and the other one for administration afterwards. Each of these parts has multiple and critical components that help automate specific areas or divisions within the organization. For instance, the lease module handles both acquisition and management of leases.
The pre-lease work involves a whole lot of forms and documents such as contracts, offer letters and amendments that are necessary for the transaction. The system has to be compatible with all the different lease arrangements including a standard one and others such as remainder leases, third-party arrangements and receiverships. In the next phase, the system has to provide timely reminders and paperwork including LPRs, checks and drafts for payment.
Every LMS has the ability to take scanned documents as input data in many formats. The system must be able to mass update all leases, if such a change is ever required at a company-wide level for all documents. Workflow configuration and lease status tracking are additional desired features.
Integration of disparate modules makes the LMS a lot more efficient. It will mean that data entered at any point is instantly promulgated to all relevant databases that need to be updated. It removes the need to print out everything, store it in files and push it around manually until to all the divisions. Automating this process makes the data more accurate, reduces the costs of redundant entry of the same data in different places, and earns green credentials for the organization due to reduced use of paper.
In addition to lease management, the two other most important modules in an LMS are GIS mapping and ownership/tract management. Apart from the core modules, there are certain system administration needs that must be fulfilled. For example, there must be support for user groups and assignment of permission levels for each group. It must also be able to supply standard as well as custom reports.
Every LMS has standard reporting capabilities that provide comprehensive details about leaseholds, rental payments, expiration, etc. These reports must be scheduled for delivery and the system should be able to generate and deliver the right reports to each user as required, and without any human intervention. Users with the necessary authorizations should also be able to generate custom reports to include tract and ownership data, along with exploration information.
One of the key innovations that has made land management software a lot more useful these days is web-based applications that are device independent. LMS packages can be accessed on the Internet from anywhere by a user with a laptop, tablet or smart phone using a secure connection and a log-in ID. With 24/7 access to the system and instant availability of information even out on the field, the LMS has a huge amount of potential to improve productivity and enable informed decision making without delays.
Broadly speaking, the system can be divided into two parts, with one focused on the acquisition process and the other one for administration afterwards. Each of these parts has multiple and critical components that help automate specific areas or divisions within the organization. For instance, the lease module handles both acquisition and management of leases.
The pre-lease work involves a whole lot of forms and documents such as contracts, offer letters and amendments that are necessary for the transaction. The system has to be compatible with all the different lease arrangements including a standard one and others such as remainder leases, third-party arrangements and receiverships. In the next phase, the system has to provide timely reminders and paperwork including LPRs, checks and drafts for payment.
Every LMS has the ability to take scanned documents as input data in many formats. The system must be able to mass update all leases, if such a change is ever required at a company-wide level for all documents. Workflow configuration and lease status tracking are additional desired features.
Integration of disparate modules makes the LMS a lot more efficient. It will mean that data entered at any point is instantly promulgated to all relevant databases that need to be updated. It removes the need to print out everything, store it in files and push it around manually until to all the divisions. Automating this process makes the data more accurate, reduces the costs of redundant entry of the same data in different places, and earns green credentials for the organization due to reduced use of paper.
In addition to lease management, the two other most important modules in an LMS are GIS mapping and ownership/tract management. Apart from the core modules, there are certain system administration needs that must be fulfilled. For example, there must be support for user groups and assignment of permission levels for each group. It must also be able to supply standard as well as custom reports.
Every LMS has standard reporting capabilities that provide comprehensive details about leaseholds, rental payments, expiration, etc. These reports must be scheduled for delivery and the system should be able to generate and deliver the right reports to each user as required, and without any human intervention. Users with the necessary authorizations should also be able to generate custom reports to include tract and ownership data, along with exploration information.
One of the key innovations that has made land management software a lot more useful these days is web-based applications that are device independent. LMS packages can be accessed on the Internet from anywhere by a user with a laptop, tablet or smart phone using a secure connection and a log-in ID. With 24/7 access to the system and instant availability of information even out on the field, the LMS has a huge amount of potential to improve productivity and enable informed decision making without delays.