Must-Have 2019 Tech

For the coworking space

By Luis Estrada on Jan 18, 2019 in Coworking, News, Technology

While the coworking industry continues to expand, its important to keep up with the best new technology. Let’s take a look at some of the most latest critical tech components for coworking spaces.

CRM

Every coworking space should absolutely have a CRM in place. It is truly one of the most integral components to a modern thriving workspace. Not only does it assist in lead tracking, but a CRM will improve your relationships with your current and prospective members.

A CRM will streamline lead entry, customer life cycle tracking, vendor relationship management, and many other operational tasks. It drives efficiency and will enhance productivity, and directly leads to greater profitability.

The technology-driven corporate world we live in today demands a CRM. According to a study by Gartner, CRM will be the single largest revenue area of spending in enterprise software by the year 2021.

Not only is the CRM going to be a core tool for sales and marketing, but it will also benefit customer service. Since your members are reaching out via social media, phone, chat, email, and any other method they can find, it’s important to consolidate all their interactions in one place. The uses of a robust CRM are virtually limitless for all aspects of a successful coworking space.

Automated Billing

Whether you operate one space or multiple locations, automated billing is a vital component for success.

Consider the time you’re spending balancing and reconciling your books. Consider the outsourced cost if you hire a bookkeeper. With the market becoming more competitive,  shared space supply is increasing, and organized operators can run more efficiently. In many cases, operators streamlining their business with automated billing (among other tech solutions) can offer the same product at a more competitive cost.

Standout softwares combine an accounting package with merchant services. Yardi KUBE has a full general ledger suite and accounting package. It will also feature merchant services, offer a vendor procurement solution, and e-broker component.

Learn more about additional technology for coworking businesses on the Yardi KUBE blog.