As the economy has made its shift from ownership towards renting, coworking business makes it easier to get a professional workspace at a fraction of the cost compared to owning office space. The number of coworking spaces across the world is projected to cross 20,000 and reach 25,968 by 2020. While running a coworking space business is lucrative, managing and operating it can be a hassle. So how to manage the key operations effectively? It is time to leverage the benefits of coworking software to streamline your coworking space’s business operations. The coworking software makes it easier for users to find the shared office spaces at the location of their choice and gives businesses the flexibility to scale up or down as per business requirements.
Why coworking management software?
Coworking tasks like keeping track of membership packages, payments, needs both time and money. The automation of coworking management responsibilities is critical in saving time and money. As coworking spaces are becoming more popular, businesses have started building software to help coworking spaces thrive and craft the best experience for their members and visitors. Before you get any coworking software to manage your business, you need to understand the specific needs of your business to identify the most effective software given your budget. Office space software features a simple user interface which makes it easy for anyone to use it effortlessly. You need not possess any technical expertise to learn the process of the system. Coworking space management software allows members to enjoy a whole new experience. It allows them to sign up for membership packages and schedule bookings with just a button click.
Benefits of using shared office space software
Coworking software is the foundation to operate a coworking space business effortlessly and efficiently. Coworking software controls and brings together the unknown variables to operate your business in a profitable way. Here are some of the benefits of coworking space software and how it creates a framework to channelize coworking space management in the right direction.
Save valuable time and effort
Instead of blindly adopting the strategies of your competitors, identify the real reasons why your business needs office space software. Start assessing how much time your team dedicates on managing your coworking space business. If you have multiple coworking space properties, managing all tasks without confusion can be a daunting task. Managing membership plans, bookings, and other services can take your staff’s valuable time if the processes are carried out manually. Coworking software helps to manage everything instantly to organize your business and manage your time and efforts in a better way. Additionally, if you are away from the office, you still can have control over your coworking space remotely using the software.
Manage coworking space bookings
Are you running your business operations manually? Or if you are currently using any system, are they designed for coworking management? If not, you probably might be missing out on a lot of cutting edge features.
It’s time to finally ditch the complicated third party management tools to manage your coworking space business. Use coworking space software specifically designed for managing shared office spaces. It features office space and meeting room booking management tools that help in managing all bookings from the single dashboard. It also helps members to make bookings with a few simple taps and even pre-book rooms in advance.
Consistency of processes
Using coworking space software as the beginning point for coworking space business processes breeds consistency. From member check-in to mailing booking confirmations, processes through a centralized platform are standardized. This brings in perfection to the coworking space management. Consistent processes also make the training for your workforce easier.
A comprehensive view of reservations
A comprehensive calendar view of reservations not only gives you a clear understanding of the reservations, but it also helps to avoid double bookings. If you have multiple coworking spaces to rent out, creating a calendar view that displays the availability of spaces will help to improve efficiency.
Benefits of coworking software include the availability of centralized resources which helps with the consolidated task management. No matter what your resource needs and coworking space requirement, they would be easily addressed with the right coworking space management software. Dealing with booking requests, reservations, planning resources, etc. is central to the management software. The right software will offer the necessary tools to manage a coworking space business efficiently.
Easy payment collection
Generally, in a coworking space business, both bookings and payment processing is done manually. Imagine the stress it would create if you have a growing number of users. Even with the best management tools, there are chances of errors. However, with a coworking space software, bookings and payment collection is directly integrated with the system which makes managing the activities easier. Invoices are directly integrated which makes the whole process easy and simple.
One of the major obstacles in managing the coworking space business is handling demands in real-time. While most coworking businesses sell subscriptions, your business must be able to accommodate on spot requests as well which adds to the logistical challenges. Shared space software helps to get a real-time picture of what coworking spaces are open and where. It can also give insights on how long office spaces are booked and what reservations are on the upcoming schedule.
System of records
Even if coworking space members input their information to book shared office space, there is a certain level of anonymity in it. You are not actually familiar with the people and won’t be able to know them better. However, if they book through your shared space software, it creates a system of record of users that might be helpful in understanding your customers.
Through a system of record, you can see members who book your coworking space often. These insights are powerful when it comes to optimizing the business and understanding customer behavior.
Launch your own mobile application
As the first impression matters, one of the most exciting features of the coworking space management software is your very own branded mobile application. Your members will be able to download your app directly app store, this improves efficiency for both businesses and members alike. Members will be able to book meeting rooms, upload payment methods, enjoy the in-app chat, and much more.
By understanding your coworking spaces, you can strategize your price the best way. Knowing how often your spaces are used, who is using and why, allow you to set price plans that are beneficial for business growth. More than maximizing what you charge for workspaces, good management data can also throw light on where you are over-allocated. Receiving data about pricing informs operational strategy which helps in managing your business finance the best way.
Coworking space software not only helps in maximizing revenue but also in driving forward to expand your user base and your business. Generating leads is as important as ensuring your members can easily find and secure coworking space bookings directly from your website. Coworking space management software brings order to a business model that is often prone to chaos and adds certainty to the unpredictability of a conventional workforce.