Land management software (LMS) is essential for organizations and businesses engaged in extensive acquisition of lands and for managing development and use of said lands. It largely automates the complex legal, financial, operational and regulatory processes involved with such activities. Listed below are the desired features commonly found in a professional LMS used by oil and gas companies, brokerages, and government or records agencies that have massive spatial management needs.
All functions in the LMS can be broadly categorized under either lease acquisition or administration. There are critical components in each of these categories that help automate entire divisions in the organization. The lease module is a good example to illustrate how an LMS works, since this module's functionality spans across both land acquisition and subsequent management.
The initial phase of the transaction before the lease execution involves heavy paperwork, including offer letters, amendments and contracts. The LMS must have the capability to provide the necessary forms and documents for standard leases as well as other types such as receiverships, remainder and third-party leases, etc. Once the transaction is concluded, the system must be programmed to produce LPRs, banker's drafts and payment checks in a timely fashion.
The LMS needs to able to accept scanned documents in all commonly used formats and store it as digital data. It must be able to make mass changes to all stored leases to update specific provisions or nomenclature, if such updates are required on a company-wide level. Lease status tracking and workflow configuration are other desirable features.
The automation will be much more efficient if all the modules are integrated properly. Data that enters the LMS at any place must be made available across the whole system. It will eliminate the need to maintain paper files and move it around manually between isolated divisions. The integration improves the accuracy of the available data, and cuts down on redundant data entry costs. The lack of paper usage also makes the organization more environmentally friendly.
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.
The standard reports must include leaseholds, expirations, rental payments and so on. Report generation must be automated and set for pre-scheduled delivery to specific user groups or individual users. An authorized user must also be able to create and view reports that include data on tracts, ownership and exploration details.
Land management software has recently become a whole lot more productive because of technological advances and innovations. The LMS can now be accessed by company users as a web-based service or application on any device including a smart phone, laptop or tablet. With 24/7 access to the system regardless of location, LMS users are able to make on the spot informed decisions out in the field.
All functions in the LMS can be broadly categorized under either lease acquisition or administration. There are critical components in each of these categories that help automate entire divisions in the organization. The lease module is a good example to illustrate how an LMS works, since this module's functionality spans across both land acquisition and subsequent management.
The initial phase of the transaction before the lease execution involves heavy paperwork, including offer letters, amendments and contracts. The LMS must have the capability to provide the necessary forms and documents for standard leases as well as other types such as receiverships, remainder and third-party leases, etc. Once the transaction is concluded, the system must be programmed to produce LPRs, banker's drafts and payment checks in a timely fashion.
The LMS needs to able to accept scanned documents in all commonly used formats and store it as digital data. It must be able to make mass changes to all stored leases to update specific provisions or nomenclature, if such updates are required on a company-wide level. Lease status tracking and workflow configuration are other desirable features.
The automation will be much more efficient if all the modules are integrated properly. Data that enters the LMS at any place must be made available across the whole system. It will eliminate the need to maintain paper files and move it around manually between isolated divisions. The integration improves the accuracy of the available data, and cuts down on redundant data entry costs. The lack of paper usage also makes the organization more environmentally friendly.
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.
The standard reports must include leaseholds, expirations, rental payments and so on. Report generation must be automated and set for pre-scheduled delivery to specific user groups or individual users. An authorized user must also be able to create and view reports that include data on tracts, ownership and exploration details.
Land management software has recently become a whole lot more productive because of technological advances and innovations. The LMS can now be accessed by company users as a web-based service or application on any device including a smart phone, laptop or tablet. With 24/7 access to the system regardless of location, LMS users are able to make on the spot informed decisions out in the field.
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