If you're like most small and medium-size coworking business owners, you probably don't have a tech department. You may not even know what tech is or how to work with it. But while tech doesn't look like much today, it can be a big moneymaker in the future. This article will show you five signs that your current tech might be past its prime and why upgrading is a good idea. So here we go.
In the past, computer technology was self-service and heavy on print/copy jobs for staff. It's a very different world now where almost everything is digital. Every element of customer interaction can occur over the Internet or through mobile devices if that makes sense.
First and most important, coworking is a business model that includes different individuals, working independently or collaboratively in a flexible workspace. Workspace technology is a broad term that can include all electronic devices used by your entire workspace. Using technology for business and productivity will play a massive role in the future of your space.
The user of coworking space technology may either be a freelance worker or a telecommuter. Generally, businesses and companies provide their employees with the equipment, space, and services to work in a coworking space.
In this era of digitalization, using technology at a coworking space will help you to streamline your business processes and procedures, collect data, communicate with clients and employees, and hence, scale your business. So, if you don’t have the latest technology integrated with your collaborative business, then it might be a time for an upgrade.
Looking at the current state of your coworking space technology will help you understand whether it is time to buy or lease new equipment. A cutting-edge system three years ago may be outmoded today and would cost more than its value in repairs if something breaks down regularly.
On the other hand, many flexible workspaces create and follow business plans that include transformation into an automation/intelligent workplace that tracks all critical company data, including sales, inventory levels, and pending orders. Systemising and automating your business landscape with the aid of technology will help you to enhance its efficiency while cutting down costs.
Technology is a crucial factor in creating top-performing coworking space and enhancing the administrator’s productivity. However, in the absence of upgraded technology, your business growth might likely be hindered. Without automated procedures and upgraded technology like cloud-based security and storage, your business procedures likely get disorganized and hence it may become difficult for you to handle growth in your business.
Once you face the issue of hindered business growth, get ready to upscale your coworking space technology. Collaborative and updated technology, like automated billing and booking systems can help your managers free 50% of their time spent on routines and focus on what’s really important - your members. Once workspace managers have all the amenities they need, they can perform better and increase the efficiency of the overall work activities.
In the fast-moving world, each second your business does not function up to its optimum mark, you lose some prospective customers, clients, and growth opportunities. In such situations, facing amplified downtime due to slow and unreliable technology can be detrimental to the productivity of your business.
So get ready to blame your technology and upgrade it as soon as you face downtime in your current technology. Excessive downtime does not only lead to loss of clients but can even bring a bad reputation for your business. For example, if you're running an SEO company and you're facing excessive downtime every day, do you think you can reach your set target? Once you upgrade your coworking space technology, you can see how the managers can now perform their jobs more effectively and quickly.
When you see how most of your business expenses are consumed by your electricity bill then it is time to upgrade your technology. Generally, older devices and unreliable technology consume more energy and electricity as compared to the newer models. So not only are they less efficient, but can also enhance your recurring costs.
The only solution to this issue is to upgrade your devices like computers and other automated devices. Though it may be an augmented investment, you are likely to save money on your recurring costs.
This will not only ensure that your business stays ahead but also lets you stay competitive. Businesses that can't keep up with these changes risk losing customers, so it's worth the investment.
Another sign to enhance your current coworking space technology is when you face lower productivity in your business due to no specific reason. In the absence of upgraded technology and devices, your managers cannot function and communicate to their optimum levels, and hence, this adversely affects their efficiency.
On the other hand, once you resolve this issue through upgraded technology, such as a self-service platform for members, both customers and administrators will find themselves in a comfortable and flexible coworking space, where every product is available in a tap. Such coworking spaces will help members to be focused and managers to perform better due to no barriers in collaboration and communication.
Security risks are ever-increasing with the increase in technology. The same technology that helps you to effectively juggle a plethora of your business errands can leak your sensitive data due to breaches. As employees continue to use technology at work, including laptops, smartphones, tablets, etc., there is an increased risk of these devices being hacked or stolen by others to change or steal data on them.
So if you have faced any security breach that leaked your confidential data, then outdated technology may be to blame for this. To reduce the adverse impact of such technology, it is crucial to upgrade it as soon as possible. Investing in the best security software and technology will help you to build the trust of your clients and employees and hence maintain a good brand reputation.
You are in the midst of a technology upgrade, but are you ready? As your business grows, your need for more power and speed increases. Whether you are looking to increase performance or upgrade security, there is no better time than now to invest in new equipment.
There are many ways to improve the way you work, from better lighting and space design to more powerful servers and faster networks. The goal of this blog post is to help you make the best choice for your business when it comes to coworking space technology.