People from a variety of industries, professions, firms, and projects are able to share a property for the sake of conducting business or other professional endeavours, which differentiates the co-working industry from typical office spaces. The principle behind
After the release of covid, business organisations have shown a greater openness to the concept of coworking. Because they want to provide their employees with a cutting-edge and all-encompassing place to work, a growing number of companies are looking for commercial property to use as office space.
Mr. Harsh Binani, co-founder of Smartworks, India’s leading platform for managed and flexible office space, recently presented his thoughts on how the co-working and property technology industries may work together more effectively. Harsh Binani is convinced that Proptech is doing more than just assisting the coworking business in maintaining its own existence. The expansion of the commercial real estate market is facilitated by the development of a robust environment and ecosystem brought about by proptech.
In point of fact, Proptech is making a significant contribution to the beneficial growth of the coworking business as a whole. Proptech is an abbreviation for “property technology,” which refers to the practise of integrating technology into real estate in order to minimise human labour and maximise efficiency. Since the decline of covid-19, there has been a large increase in the total demand for tech-enabled commercial space that may be utilised for offices and other business purposes.
Elements which Strengthen that Proptech is Helping the Co-Working Industry to Sustain and Grow–
Proptech, which is often referred to as property technology, refers to all of the technological tools and ideas that are placed and put into practise at commercial properties in order to maximise efficiency and improve the quality of the user experience. Additionally, Harsh Binani was quoted as saying, “Proptech is playing a very essential role since the pandemic has began because it has become vital for the companies to maintain employee safety in the workplace.” A successful combination of the Proptech and Coworking industries requires specific components to provide a solid foundation. These components include: These aspects can also be considered advantages of the situation.
1. Building and Optimizing Office Spaces:
When it comes to creating the general layout and structure of the building, Proptech plays a significant role in the process. The construction of new office space and the optimization of existing office space enables businesses to improve the efficiency of their processes and make optimal use of the office space they have available. This allows for the elimination of unnecessary clutter and increased output from employees. It is a fact that without technical advances, it is challenging for any industry to maintain its current level of activity and grow.
2. Asset Utilization:
There is no doubt that proptech is assisting in the rapid development and improvement of the coworking business. To put it another way, asset utilisation refers to the process of actually making use of the various machines, tools, and other types of physical resources that are located within a managed office space. Because of this, firms are able to cut down on the waste of any resource. Utilization of assets and exercise of control over such assets is one of the most important parts of the coworking industry’s ability to continue and expand.
3. Property Management:
Businesses are able to better manage and govern their property when technology is integrated with the assets and resources they use. Property management provides the personnel in charge of security with the means to forestall any mishaps that could have repercussions not only for the company but also for its employees. Harsh Binani believes that efficient property management is one of the most important factors that determine the success of an organisation in terms of its day-to-day operations.
4. Digital Engagement and Touchless Solutions:
Coworking is an innovative concept for the workplace in which individuals representing a wide range of cultures, companies, faiths, and other backgrounds share office space together with all of its facilities. The incorporation of proptech into the coworking industry has shown to be a fruitful strategy. Concepts such as touchless solutions and digital engagement assist businesses provide a superior customer experience because today’s younger generation is more comfortable and involved with technology than previous generations were.
5. Visitor and Access Management System:
The administration of both visitors and access controls are among the most essential components for the continued operation of any commercial enterprise. In the past, it was difficult to keep track of and monitor the movements of both the workers and the guests in the building. It is currently less difficult than it has ever been. The corporate visitor management system gives security officers the ability to grant or reject entry, track the movement of guests, and thwart any suspicious activities that might occur on the premises of the company. On the other hand, an access management system will prevent employees from entering any part of the building that falls under the supervision of senior management.
6. Eliminate Paperwork and Reduce Costs:
In the past, the shared office space required a significant amount of paper and ink for its activities and access procedures for the workers. Because of advancements in Proptech, it is now much simpler for management to cut down on paperwork in order to preserve natural areas and conserve resources. The cost of providing all of the services is distributed evenly among the people using the coworking space, making it a cost-effective strategy for reducing expenses.
7. Detailed Insights
Insights or reports that are particularly detailed are quite valuable to companies as they seek to identify areas in need of development and devise novel strategies to overcome these challenges. Numerous large corporations employ various tools that provide extensive information in order to improve their planning and correct previous errors. The companies are able to be aware of key factors, including those listed below, thanks to the detailed information.
• The times when staff and guests are required to check in and check out of the facility.
• The typical number of hours worked per week by the staff
• The In-Person Utilization of Available Resources
• The need for additional sources of support (workstations, chairs, laptops, and so on)
• The regularity of the guests’ visits
8. Data and Employee Security:
The safety of your company’s data as well as the wellbeing of its workforce should be the primary considerations of any company or company organisation. In the event that any of these are violated, the company may be subject to severe backlash and a precipitous decline. Businesses are able to protect their data and staff from any outsider by employing Proptech in their coworking spaces and mandating its use. Companies are able to track down any suspicious activity taking place within their office space with the use of concepts like as the enterprisevisitor management system and the access control system.
9. IoT Enabled Workspaces:
The Internet of Things (IoT) has seen substantial popularity growth in recent years, particularly in the business, educational, and hospitality sectors. The term “Internet of Things” refers to the process of connecting technology with physical assets and resources in the workplace, such as computers, tablets, and other office machinery. Harsh Binani mentioned that the continual use of IoT will bring about a significant and favourable transition in the coworking business in a recent interview that he gave.
Because of this, the statement that “Proptech is assisting coworking to sustain” is strengthened in a number of different ways by the aspects listed above. Proptech is changing the working environments in order to provide an entirely new and comprehensive working experience for the workforce. Proptech also makes it possible for businesses to include other profitable ideas, such as hot desking and the reservation of meeting rooms.
Therefore, if you are also looking for commercial space for offices, you should make sure that they are fully furnished and filled with technological equipment. In this way, you will have a greater chance of enticing employees to work for you.