Flex is the new norm for office space. The market has grown consistently over the years and thus far shows no signs of slowing down. Commercial real estate stakeholders and landlords are inching their way into the market, be it with their own proposition or by partnering with an established operator. Regardless of their avenue, getting the operation right from day one is critical. Technology is both an enabler of flex-space growth as it is a determining factor for its success.
For those landlords looking to flex-up, here’s a quick look at how leveraging technology can contribute to a successful flexible workspace operation. Get the full eBook here.
Safeguarding your business for a dynamic market
Flexibility and control are two components of technology that can position you for success. In an environment that is built to be flexible and agile, it is essential to deliver services on-demand and friction-free to meet varying tenant expectations. What most don’t realize about technology, however, is that the way network infrastructure and connectivity are sourced determines the level of flexibility and control over the IT, tech and infrastructure services extended to your tenants.
Unified data for informed decision making
Differentiating a CRE portfolio with a flex-space proposition adds new data dimensions for tracking. Meeting room usage, space consumption, movement around the space, and bandwidth usage are just a few insights that smart technology can capture across a single flexible workspace. For multiple locations, capturing and analyzing multiple data sets is no easy feat. The value of a single tech platform lays in the ability to unify and analyze large sets of data. With this information, you can better understand member behavior to customize propositions based existing service and space consumption. If flex-space isn’t your core business model, having reliable tech and software platforms that do the heavy lifting for you is critical.
Connectivity is King
Historically, CRE has been all about the product; the real estate. As flex becomes the new office norm, landlords have had to shift their focus from product to service. What this means is that you now have to ensure that all of the services within the workspace are top-notch for tenants. Connectivity – wired and wireless – is king in a flexible workspace. With multiple tenants sharing a single network and connecting multiple devices it’s easy for a poor internet connection or shoddy Wi-Fi signal to ruin someone’s day or worse, expose security vulnerabilities.
Utilizing VLANs to segregate traffic for individual tenants and implementing a resilient connection can prevent network strain, member meltdowns and potential hits to your brand’s reputation. These are just a few things, though. Read more about the importance of connectivity here.
Tech security is a critical differentiator
As tenants move to flex-space, they trust in the workspace provider to deliver all the essential services that they need – that’s you! Small and medium sized businesses tend to lack IT departments or knowledgeable staff to advise on crucial elements such as tech security. Whereas enterprise tenants have IT departments with strict tech and security policies to comply with. These can be deal-breakers when it comes to choosing a flexible workspace environment. Security in a flex-space is vital, especially given recent high-profile breaches. They can stain your brand and cause serious, costly damage to your tenants’ businesses and yours.
Discover all the security considerations for flex-spaces here.