The workplace landscape began changing dramatically during and after the pandemic. As well as remote and hybrid models, coworking spaces are becoming more popular where freelancers and other workers want to utilize office space without the cost of renting a permanent space.
In fact, out of over 19,000 coworking spaces globally,some 6,200 of those are in the US and are being used by about 865,000 workers. That means that operating a coworking space can be a lucrative business if approached correctly.
However, operators need to have a good idea of how their spaces will be needed - and when - and have a way of analyzing their data so they know they’re achieving optimum use of different areas.
In some cases, online data analysis training can help. Can workspace management software also aid you? We look at what it means for the modern business adapting to hybrid working.
Space management software helps with the process of managing the physical space of your workplace. It involves a number of data-driven steps that may include identification and gathering of relevant data, enterprise big data certification, data analysis, and forecasting of future needs and work patterns.
Then you need to formulate a strategy that lets you make the best use of the space you have.
Efficient space management isn’t just a case of assigning desk space to your members or tracking your daily occupancy rates. It has to be driven by the data you have and be agile enough to meet any changes in situations.
That way, you have the ability to adapt to changes in demands on your time and your workers’ time and be ready for any challenge. One way to add flexibility and scalability to your company is to use a cloud data warehouse.
While there are multiple benefits you can gain from using space management software, these are the main ones:
Better use of space: you can identify areas where the use of your workplace space can be optimized. This could include using underutilized spaces, such as meeting rooms or rearranging the workspace to encourage better workflows when you have teams using your space for better collaboration.
This can also lead to cost savings. Each workstation in your workplace can cost around $18,000 per year. If you’ve unused or underused space, optimizing the use of space could save you a significant amount of your budget every year.
If you manage your space well and provide needed resources, people are more likely to continue using that space. Having a solid base of regular coworkers can be an important part of running a successful coworking space. Efficient management of your space is key to keeping your members happy and continuing to use your service.
Ideally, you want a pool of regular members who use your service regularly and long-term. Using your space management software to ensure those regular members are well catered for can mean they remain loyal to your space.
Good space management software can let you see who’s working where and when. This can be a huge boon when it comes to planning, as you can see the status of which members are using which spaces and how long they’ve contracted with you to use any space. This means you can discuss contract renewals well ahead of expiry.
It also provides real-time metrics and data: a good solution provides you with the data virtualization you need to see if any strategy changes are working well, from the percentage of space used to operational costs by space. This allows you to identify any deficiencies quickly and make needed changes.
Even from a health and safety perspective, you need an accurate picture of who’s in the building/office. Space management software can track how long people spend in the office, which can be important when you work on hourly rates for your space.
There can be many reasons why your members have visitors. These can be partner agencies or employers. There’s also the question of workspace security to consider. Space management software helps you manage who’s visiting your shared office, and with digital registration, you can ensure that all visitors have a legitimate reason for being there.
Conference rooms and other shared amenities can be in great demand, especially in larger spaces. Efficient workspace management software ensures that people can see when such spaces are available and when they’re booked. It can also identify the resources available in these spaces, such as video projectors, microphones, and so on.
Meeting room display on andcards
If you’re working with limited space, you need an overview of space occupancy. A good space management solution lets you see who’s occupying what space. It can also allow for spaces to be booked/scheduled so you can know who will be in the spaces when and can plan ahead for bookings.
Meeting room booking system at MY WORKSPACE
Good workspace management platform will integrate with management tools and access control systems you already use to allow for a greater degree of control over your workspace. For example, integrating with a tool such as Google Calendar lets you and members see what workspaces and conference rooms are available when so they can book if needed.
If you’re operating a coworking space, space management system can help you identify your most regular customers and assign perks. Perks can range from discounts on booking working spaces or meeting rooms to discounts on food and drink (if available). You could also partner with external businesses, such as cafes, to offer discount coupons.
You need to know the financial aspects of your coworking space. Of course, you may face lean periods as well as busy ones, so accurate reporting on a weekly or monthly basis is essential. Being able to see occupancy rates and how they relate to revenue can help you make informed business decisions, such as increasing available space or technical resources.
As with any new strategy or change to your business, such as digital transformation, there are things you’re going to look for in space management software that may be your priorities. Here are four of the main things to look for:
When you run coworking spaces, you’ll be dealing with lots of data regarding occupancy, times used, scheduling, and so on. With a good space management solution, you should be looking for one that offers all the information connected with your facility gathered together on one dashboard.
You don’t want to be jumping between different tools and apps to get an accurate overview of your facility’s performance as well as important aspects such as room or space availability. Of course, every business may approach data differently and will employ different architecture, such as Apache Kudu architecture.
It doesn’t matter what sort of tool you’re considering for your business; affordability is something you’ll always consider. You’re not going to spend a large percentage of your budget on an expensive email tracker if there’s no ROI or if it does more than you need it to. The same holds true for workspace management software; look for one that suits your budget and needs.
If you’re running a coworking facility without a workspace management platform, you’re likely using several tools for different functions. For example, you may be using Google Calendar to schedule the use of different spaces. Once you choose your new software, you’ll want it to integrate with as many existing tools and software as possible.
Perhaps you’re using WordPress plugins to collect data when people make bookings through your site. If so, you want to be able to link the different systems up so data is presented on your dashboard and can be easily generated into reports.
When you choose to buy any sort of solution for your business, from CRM to inventory management software, you want to be sure it meets your needs. It’s no different with workspace management app. Different solutions will offer different capabilities and integrations, so be sure to look at what your needs are and what each solution offers.
For example, you want to make the best use of the space you have. That means you’ll need AutoCad drawings of your location’s layout so the software can analyze essential factors, such as the layout of all spaces and how many square meters you have in total. Or you may want to automate all time-consuming routines related to hub management and take good care of members’ comfort. These cases require different solutions.
Of course, you want to generate a good level of revenue from your coworking space and maximize the use of space. That can mean identifying underutilized spaces, such as meeting rooms or rearranging the workspace to encourage better workflows and team collaboration. Good workspace management software can help ensure you’re using every square meter.
You also need to know how well things work, which means real-time metrics and data; a good software solution provides you with the data virtualization you need to see if any strategy changes are working well, from the percentage of space used to operational costs by space. This allows you to identify any deficiencies quickly and make needed changes.
For every problem, there’s a solution. So, make a list of the issues you are looking to resolve and jump on a free one-on-one call with andcards product expert to see if this workspace management software is an ideal solution for your use case.