Elevating the Coworking Experience
For the end user, it’s all about ease. For the operator, it’s about efficiency.
While the return-to-office tug-of-war slows down, the coworking sector is entering steady, predictable growth territory. This makes it an ideal time for fine-tuning tech tools—from coffee service to lead generation.
Coworking stands out in one big way as far as office goes: Operators interact with a huge volume of members/customers. In other sectors of commercial real estate, brokers most often act as buffers or filters. This, in turn, affects how tech comes into play.
“You must have a CRM system to track prospects, and ultimately customers, all the way through the process,” said Tim Slaughter, founder & CEO of coworking operator CADDO Office Reimagined, which has nine locations around the Dallas-Fort Worth area.
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“These technologies are opening up their APIs and talking to one another to allow a seamless journey from prospect to customer and back again. It’s a lot more like a consumer rather than real estate process. (Customers) expect that ease of use.”
CADDO’s wireless display capability, using native Microsoft and Apple casting technology, at its Lakewood, Texas, location. Image courtesy of CADDO Office Reimagined 
CADDO operates nine locations around Dallas-Fort Worth, including this on in McKinney, Texas. Image courtesy of CADDO Office Reimagined 
Check-in tablet on the front desk at CADDO’s Prosper, Texas, location. Image courtesy of CADDO Office Reimagined
The coworking tech stack
As coworking locations and saleable units multiply, so does complexity: More contracts, signatories, move-out notices and Wi-Fi agreements … basically more of everything into the system—and the need for greater operating efficiency, observed Will Sandford, director of coworking for Yardi, whose Kube coworking software provides a workspace management platform.
“We see value in the single stack,” noted Sandford. “The leads generated end up in the same system as the contracts.” This makes it easier to convert a lead to a member and then to activate the member.
THRIVE | Coworking uses an integrated tech stack with tools such as OfficeRnD for member management, Salesforce.com for CRM and Uniti AI for lead conversion and follow-up.
Chris Smith, the company’s CRO, views technology as an essential tool for both managing spaces and scaling operations.
The mentioned platforms assist THRIVE in streamlining membership and booking processes, as well as in pipeline management. It helps management scrutinize each facet of operations, from customer satisfaction to marketing performance. “These integrations drive productivity and responsiveness, allowing us to manage and scale with precision and adaptability,” Smith said.
READ ALSO: Are Coworking Networks the Future of Office?
THRIVE refers to property managers as “community managers.” After all, they are the heart and soul of member engagement and experience. They’re backed by technology that centralizes membership, billing and event management; manages sales forecasts; and converts leads with proactive follow-up.
Sometimes, even boosting the basics can help. “We (also) offer … a digital coffee and beverage machine that provides coffee-shop-quality drinks including lattes, chai tea and matcha, all managed remotely,” Smith added.
Booking space
Coworking locations typically comprise an array of space categories available for booking, pointed out Israel Ortiz, senior director of product strategy and innovation at software firm Accruent. These may include shared-work areas, conference rooms and lounges, among others, all requiring technology to support desk and room booking, workplace settings and environmental controls. Integrated workplace management solutions can improve member experience via tailored recommendations.
Coworking operators also rely on space-usage insights and optimization analytics, using sensors and IoT for real-time data, assisted by software such as Accruent Space Intelligence. “This setup aids in managing HVAC, lighting, maintenance and other facility needs,” Ortiz added.
Coworking members prioritize ease and speed in booking space, especially when on the go, Smith reasoned. His company relies on tech platforms to help end users see availability, book space and even configure room preferences. Integrated access control systems such as OpenPath and Kisi let members access booked spaces without security issues or friction.
From lead to paying member
It doesn’t matter if you’re booking a meeting room, access to a facility or a private office. It can be one desk for one day or a large team for a month, or even a year. In all cases, leads should be able to access space on demand through self-service e-commerce, recommended Sandford.
“We want to make sure each customer’s journey is as tech-enabled as possible, to make sure it is transacted as efficiently as possible, so we’re reducing the cost of customer acquisition by product,” he added.
READ ALSO: Flex Office Is Becoming Synonymous With Office
Tech can also fill an important role in connecting pools of customers to one another.
Customers traveling to markets where they don’t have access to a coworking location can find solutions through their original supplier.
“That is something traditionally facilitated by brokers, but brokers have not shown success in matching small liquid demand with available supply. It must be done through technology,” Sandford pointed out.
OpenPath allows access control for member Emma Protis to enter the build-ing. Image courtesy of Mikaela Wahl 
Check in at the iPads for new members to take a tour. Image courtesy of Mikaela Wahl 
Member Emma Protis uses Calendly to see availability to book a meeting room or request a tour. Image courtesy of Mikaela Wahl 
1. OfficeRnD lets members configure room preferences for the Lodge Room. Image courtesy of Mikaela Wahl
Coming soon
Tech tools emerging today will show advancements for years to come, noted Cache Merrill, founder of support services firm Zibtek. These include the use of predictive analysis to forecast customer demands; enhancement of VR and AR to allow remote viewing of spaces so customers can virtually “walk” locations before signing contracts; use of blockchain to expedite lease agreements; and evolution of sustainability tech.
Dynamic pricing tech is also on the horizon, Smith mentioned. New players, such as Flexspace, founded by Priceline and Uber vets, are helping this type of expertise permeate the world of coworking.
“This cross-industry innovation is exciting because it hints at a future where coworking pricing adapts more fluidly to meet real-time demand, similar to the ride-sharing and travel sectors,” said Smith. “THRIVE is exploring how these advancements could impact our strategy.”
While concurring, Slaughter also pointed out that more sharing could help all. “I’d like to see the industry gain access to better data and be more open … to sharing pricing information. The consumer wants that ease of pricing and transparency, and having those things could grow the pie for everyone.”
