Coworking spaces have become increasingly popular with more millennials who prefer the flexibility associated with the concept. It’s no surprise that coworking spaces have become a viable business venture.
To improve your service as a coworking provider, you may want to consider integrating coworking space management software. This type of tool will make tasks like meeting room booking, membership and visitor management, and billing a breeze for your administrative staff. It can also make it easier for your clients to avail of your services.
Here’s a helpful guide on how to select the best coworking management software.
Decide your price structure
When choosing the best coworking management software for your business, you must ensure the price is within your allocated budget for the tool.
The price of coworking management software varies. In general, though, it will increase depending on the number of its users. Let’s take a look at some plans:
- Nexudus’ price, for instance, increases by $10 for every ten members added to the platform once you reach the $190 mark.
- Optix’s pricing options are more straightforward — a plan for 50 users costs $159 a month, and a plan for 100 users costs $239 monthly. If you have 51 users, you’ll be paying $239.
- Yardi Kube doesn’t publicly display pricing, so you’ll need to schedule a demo with their team.
If you’re a small coworking business with, let’s say, five to six people who will use the software, you can opt for incremental pricing. You can opt for set range prices if you’re a big business. Software providers can even create custom plans for you depending on your needs.
Before you make a final decision, though, make sure you do your research. These software brands usually show their plans on the website. Just click on a plan. That will bring you to an effective landing page that contains all the pricing details and plan features you need to know. We’ll talk more about features later.
If you find the details on their site lacking, send them an email. The good thing about using this strategy is that you can record your interactions with the brand. So, when you need to make a decision, it’s easy to go back to your previous emails with them.
You can use the best email search tool to look for their business email addresses. That will help ensure your email queries actually get to them.
Identify the end-user
In selecting office management software for coworking spaces, you need to decide if the tool you’ll use will be for your members, your administrative staff, or both.
By identifying the end-user, you can save on costs and time. After all, you’ll only end up availing of the tool with the features your identified end-user will need. You’ll also narrow down your list of prospective tools to those that actually have those features.
For instance, if you’ve identified your members as the software’s end-user, you don’t have to look for a tool with a membership management feature. You’d probably only look for software with the booking option and maybe a feature that allows them to look at your coworking agreement.
Determine, too, your end-user preferences. If they use their mobile devices frequently, for instance, you may need to look for software you can use on mobile devices.
Determine if features fit your business needs
You also need to consider your business needs when deciding on your office management software. You may not need a tool with a meeting room management feature, for instance, if you’re managing a 20-square-meter space that you can easily monitor.
If you manage a huge space with multiple wellness spaces and always deal with an influx of visitors, you will need a tool that helps with space availability monitoring, multi-location management, and visitor management.
You may also want to look at each brand’s performance when it comes to customer support. This last one tends to be overlooked but is very important. You’re using a software solution, which means anything can go wrong. In those cases, you want someone to help you resolve any issue with the tool.
Whatever the features you’ll need in a tool, we don’t suggest you hop instantly on the first coworking management solution that meets your requirements. At this stage, come up with a list containing the software solutions that fit your criteria first.
Check for essential integrations with other platforms
Let’s assume you’re looking for a tool your staff can use. Your staff are most likely already using other tools for their day-to-day operations. These may be CRM, accounting and invoicing platforms, among other things. So, when selecting office management software for your coworking space, you need to determine if the tool you’re looking at can be integrated with these tools. After all, you want fully streamlined operations.
Some tools have integrations with accounting tools such as QuickBooks to help you save time on billing. You may also want to look for a tool with integrations with CRM like Hubspot. That will allow you to export contract management and customer data into your CRM software.
I suggest you ask your staff how they go about their work daily, so you have a complete picture of the tools they use in business operations.
Ask for a demo
You should ask for a demo before committing to an annual subscription to software that will be integral to your business. Additionally, some brands like Yardi Kube only disclose their pricing during or after a demo.
Contact each company on your list of prospects and ask them for that demo. These companies will often be more than happy to grant your demo request.
Seeing the coworking software in action will help you visualize whether your identified users will be able to use it. You’ll also be able to assess if it meets your needs.
With demos, you can also determine if the brand, in the first place, is someone you’d like to work with. The sales rep conducting the demo, after all, represents the brand. If they conduct themselves professionally throughout the entire process, you can safely assume that the brand is worth your time. If they don’t, then you can tick them off your list.
Don’t forget to ask questions during the demo. The more questions you ask, the better. You may also apply for a free trial to see how the software will fit into your daily operations. A trial also allows your employees to decide which coworking space management system they like better and get used to the technology.
Coworking spaces are a great alternative to offices. They bring people from different companies together, allowing for essential business connections to be forged.
If you’re already managing a coworking space business or are planning to venture into it, you might consider having a coworking management solution.
You learned the factors you need to consider when choosing the ideal tool for you. Look at the pricing structure. Your selected tool shouldn’t exceed your budget. Identify your end-user, too. You need to determine if your tool users are your staff, members, or both.
Assess the needs of your end-user and look for features they can use. In choosing your tool, look at possible third-party integrations to make your team’s workflow smoother. Finally, create a list of providers that offer the tools with the features you’re looking for and book a demo or trial with them.
Once you’ve considered these elements, you can feel confident in making your final decision. Rest assured that you made the right choice!