Yes, it is possible to customize settings and alerts for TP-Link cameras through the management software. The software allows users to adjust various parameters such as motion detection sensitivity, recording schedules, and notification preferences. Alerts can be set up to be triggered by specific events, such as motion detection or sound detection. Additionally, users can customize the alert settings to receive notifications via email or smartphone app. Overall, the management software provides a high level of flexibility and customization options for users to tailor their TP-Link camera settings to their specific needs.