The explosion of availability of information on the Internet requires that libraries evolve into value-added information providers, rather than mere curators of collections. Modern libraries need to stay relevant to a diverse, technologically savvy patron base and to facilitate and add value to the research community, while facing significant resource constraints. To face these challenges, libraries need to embrace digital technologies and library management systems (LMS) in order to work smart and achieve more with less. While LMS systems have been around for decades, libraries can explore the new frontier by embracing open source solutions, like open source software (OSS) library systems, which are free to acquire. They need to collaborate with computer experts and become technologically savvy to harness the full power of OSS solutions to meet the specific needs of the library and patron base. This article provides an overview of the availability, benefits, and drawbacks of various LMS systems and OSS variants, drawing from experiences in the present Indian context.