Updating version numbers of modules in a multi-module Maven project

I have a multi-module maven project. We intend to version all these modules together. But as of now I am ending up hard-coding version in each of the module pom.xml as below

<parent>
    <artifactId>xyz-application</artifactId>
    <groupId>com.xyz</groupId>
    <version>2.50.0.g</version>
</parent>
<modelVersion>4.0.0</modelVersion>
<groupId>com.xyz</groupId>
<artifactId>xyz-Library</artifactId>
<version>2.50.0.g</version>

and the main parent module has the below configuration

<modelVersion>4.0.0</modelVersion>
<groupId>com.xyz</groupId>
<artifactId>xyz-application</artifactId>
<version>2.50.0.g</version>
<packaging>pom</packaging>