Coworking Softwares: Everything that you need to know

 

Why do you need Coworking Software?

Coworking spaces are made to create a community where individuals, both freelancers, and employees of small and big organizations can coexist with each other in an environment where they can share and impart knowledge with each other.

Resources are required to create and maintain a coworking space.

The resources are time and capital. A good amount of capital is required to build a coworking space but it is much more difficult to maintain a coworking space. Maintaining a coworking space needs both time and money.

Automation of many coworking management responsibilities is required to save both time and money. Coworking tasks such as keeping track of memberships, payments, newsletters, and door access require manpower, which in time utilizes both time and money. Coworking spaces want to use coworking software that will help optimize time and cost management.

As coworking has become more popular, tech companies have started building software to help coworking spaces thrive and create the best experience for their members and visitors.

Benefits  of Coworking Software

Space Management

The primary purpose of coworking software is to provide insight.

This means presenting available workspace from a top-down view.

How many single workspaces are in the facility? Group spaces? Conference rooms? Knowing the static variables helps you plan for the unknown.

Coworking software helps you make definitive conclusions about your space. By reviewing data, you can see if there is too much focus on one type of space over another.

Such insights help optimize controllable variables.

Consistency of processes

Using coworking software as the starting point for coworking space management processes breeds consistency.

From guest check-in to emailing reservation confirmations, processes through a central platform are standardized and automated. This brings even more order to workspace management.

Consistent processes also make training easier. Coworking management staff are all on the same page when processes are uniform and standardized.

System of record

There’s a certain anonymity to coworking users, even when they give you their information to reserve a spot.

You don’t actually know this person, who they are, what they’re like, why they’re using your space, etc.

Booking them through coworking software creates a system of record that may be valuable in getting to know your customers.

Through a system of record, you can see that Jim reserves a coworking space twice weekly. Kevin books a conference room once a month. Pam reserved a full-day space once and hasn’t been back since.

These insights are powerful.

They help optimize the business, whether through re-marketing efforts or feedback-driven initiatives.

Historical usage data

With daily, weekly, monthly, and quarterly snapshots of space usage, workspace management software make it easy to execute on different strategies.

Coworking space owners can target micro and macro data points to fine-tune their businesses and bring even more stability to how they purpose space.

For example, average space utilization is down 34% on Mondays, while 44% of conference room spaces go unused on Fridays. The last week of the month has the highest number of space reservations. Simple data points like these identify opportunities for maximizing space utilization and revenue.

Cost optimization

There’s pricing power in knowing the demand for your coworking spaces.

Having a collective understanding of your space, how often it’s used, who’s using it, and why allows you to set prices that are advantageous for growth.

Space management software highlights the variables you need to exercise pricing power.

More than maximizing what you charge for workspaces, good management data can also shine a light on where you’re losing money, wasting effort, or over-allocating.

Reviewing financial data informs operational strategy, which feeds back into better financials.

Centralized resources

Coworking software adds the much-needed benefit of consolidated task management to workspace oversight.

No matter what patrons, staff, or space needs there are, they’re easily addressed with the right management software.

Handling customer requests and reservations or examining data and planning resources is central to the software. The right platform will provide the necessary tools to manage a coworking business.

It consolidates the number of people or time and effort it takes to do so.

 

Before you buy coworking software for your coworking space, you need to know what your coworking space needs and what will be most effective, given your budget.

Coworking software has evolved largely over the past seven years. It has been increasingly difficult to choose the best coworking software for a coworking space, owing to a large number of available options.

Criteria for choosing Coworking Software

How long has the coworking software been around

With the development of the latest software platforms, the tendency to hop on the latest technology can be tempting.

However, these newer platforms come with problems of their own as they continue to improve, fix bugs and develop systems over time.

Software that has been around for a long time often brings the best rewards and value to your space.

User Reviews

The best way to learn about different software fast is to either search online for reviews or gather feedback from coworking space managers and users.

Coworking software showing reviews

 

Space operators who already have feedback from the rest of the space are suitable people to approach to find out more about a product.

Scalability of Coworking software should be tested

As the number of members in your coworking space increases, the same software should be available for use.

When the number of locations increases, the software should be flexible enough, allowing fluidity between members travelling from one location to another.

A Decent Dashboard Overview

A good login page is critical to a space management platform. This should not be ignored. Member login should consist of invoice history, book conference rooms, upcoming events, additional products available. Members should also be able to connect with other members through a chat board or a directory. The more concise and functional the member login page, the better.

Dashboard of coworking software

The criteria on which we shortlisted these five coworking software were Access Control, Flexibility, Tech support, Custom Features, Data Analysis,  Communication, and Mobile Friendliness.

Nexudus

Nexdus spacesNexudus is a complete coworking space management system for memberships, payments, events, newsletters and much more. It even includes a powerful CRM (which it calls an MRM = member relationships management) to help you keep track of contacts and leads.

Nexudus has become a reference in the coworking and flexible workspace industry since it started way back in 2012. Nexudus is featured as the most comprehensive management platform to run your space. It also provides mission-critical tools and technology to power your coworking space business.

 

                          ProsCons
1.  More sleek and modern than the previous CRM system.A few features are still in development / not present.
2. The user-friendly app and amazing tech support.No printer integration – however, development is underway.
3. Value – great price points for plans.

 UX – user-friendly back + front end.

Certain features aren’t available yet/ not customizable.
4. Has completely streamlined coworking space bookings and allowed us to be hands-off.The software is In-app only which can be a restriction for some.

Optix

 

optix

 

Optix created by ShareDesk, is a mobile-first coworking management software. ShareDesk is the creator of the ShareDesk Marketplace. The Optix platform consists of two tools: a web platform for managers and a white-label mobile app for members.

Booking management, invoicing, member-to-member messaging and support are some of the features that Optix offers.

Optix, after optionally integrating with the ShareDesk Marketplace, allows spaces to advertise, fill their desks and do all of their management in one portal.

                          ProsCons
1.  More sleek and modern than the previous CRM system.A few features are still in development / not present.
2. The user-friendly app and amazing tech support.No printer integration – however, development is underway.
3. Value – great price points for plans.
UX – user-friendly back + front end.
The software is In-app only which can be a restriction for some.

 

Coworkify

Coworkify

If you want a complete coworking management software that emphasizes on simplicity, then Coworkify is the thing for you. It provides tools for booking, invoicing, membership, sales, and marketing.

ProsCons
1. Security is essential when credit card information and personal data is being stored online, and Coworkify takes it seriously. All information is encrypted, and the software is hosted by the secure Amazon Web Services (AWS).It does not include room scheduling, vendor management, and work order management.
2. The payment flexibility of Coworkify makes it easy for its members to use the software. Members can choose to pay via credit card, cheque, or cash. 
3. Coworkify has created a platform that is so simple to use that you can be completely set up and ready to go in just 15 minutes.

 

Yardi Kube

 

Yardi Cube

 

Yardi Kube is a self-contained solution for coworking that goes just beyond managing the tenants. Yardi Kube offers services such as door access, WiFi, billing, and CRM. It’s also integrated with a marketplace to help you fill your desks and rooms.

ProsCons
1. The Member Portal is extremely community-based, which allows all its members to communicate and collaborate on new ideas and projects through the platform.1. It is a little difficult to export reports into a PDF.
2. It takes the stress out of managing a coworking space. Owners and managers can seamlessly integrate the platform with merchants and billing applications to help make the process much easier.
3. Yardi Kube has flexible price points for its users that can be customized based on the user’s needs.

Cobot

 

Cobot

 

Cobot was created by an organization running their own coworking space to automate dull, everyday tasks and help fellow coworking spaces run effortlessly.

Besides performing tasks such as automated billing, invoicing, room booking and software integrations, Cobot is multilingual, fully mobile-optimized, and supports coworking spaces all around the world.

Cobot provides the support that is free and personal from an international team with experience growing happy & healthy coworking communities.

 

ProsCons
1. It offers a 30-day free trial, so you can test out the features and decide if it is right for you.
2. Cobot helps to manage multiple spaces and control member access on one interface. 
3. The booking calendar updated in real-time, so members always know what resources like conference rooms, lockers, and more are in use or are free to use. 

Future of Coworking Software in a COVID-19 World

As the world battles the coronavirus pandemic, healthy and safe buildings are becoming the new norm.

To adapt to the new normal, more and more coworking spaces should adopt a no-touch visitor coworking software.

Greetly is a modern coworking software that implements “no-touch” visitor check-in.

Visitors will be able to initiate and complete the check-in process using their own smartphones without having to download any apps or touch any third-party screens. This way coworkers can enter the coworking space hands-free and be even more secure from spreading the virus.

Traditional coworking software run off tablet computers in a kiosk, which causes potential risk as visitors are required to touch the kiosk which may have been used by someone carrying coronavirus or another illness.

In addition, cleaning a kiosk is not entirely practical and cannot be guaranteed after each and every use.

The welcome screen of the Greetly app will soon display a QR code (and a URL, both unique to the specific workplace) to initiate the sign-in process.

Greetly will make sure visitors are on location before allowing them to begin the check-in process. Visitors will then be able to complete the entire check-in process, including finding and selecting their host, entering the required information about themselves, taking a photo and/or eSigning legal documents.

When the process is complete, hosts will be notified.

If you want to know more about coworking software or coworking in general, visit us at www.workstreet.in.

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