How Protech is Helping the Coworking Industry to Sustain?

 

Unlike traditional office spaces, the co-working industry allows people from different backgrounds, professions, companies, and projects to share a property for commercial or professional purposes. The concept of

coworking has been more openly embraced the idea by business organizations post-covid. Many businesses are now looking forcommercial space for offices as they want to create an advanced and holistic work environment for the employees.

Mr. Harsh Binani, the co-founder of Smartworks, India’s largest platform for managed and flexible office space has shared his views on collaboration between Proptech and Co-Working industry. Harsh Binani truly believes that Proptech is not only helping the coworking industry to sustain itself.Proptech is creating a powerful environment and ecosystem that is helping the commercial real estate sector to grow.

Indeed, Proptech is creating a positive difference in the overall development of the coworking industry. In simple words, Proptech means integrating technology with the property to minimize human efforts to maximize productivity. There’s been a significant incline in the overall demand for tech-enabledcommercial space for offices and business purposes since the decline of covid-19.

 

Elements which Strengthen that Proptech is Helping the Co-Working Industry to Sustain and Grow– 

Proptech, also known as property technology, is all the tech tools and concepts that are installed and implemented at commercial properties to optimize the process for enhanced user experience. Harsh Binani also said that “Proptech is playing a very crucial role since the pandemic has begun because it has become vital for the companies to ensure employee safety in the workplace.” There are certain elements that create a base for a successful merger of the Proptech and Coworking industry. These elements can also be taken as benefits.

 

1. Building and Optimizing Office Spaces:

Proptech plays an important role in designing the overall layout and structure of the building. Building and optimizing the office space allows businesses to streamline the processes and manage the available office space adequately in order to reduce clutter and maximize the productivity of the workforce. It is true that without technological advancements, it is difficult for any sector to sustain and grow.

2. Asset Utilization:

Proptech is surely helping the coworking industry to advance and upgrade aggressively. In simple words, asset utilization means the actual use of the machines, tools, and other physical resources in a managed office space. This allows businesses to reduce the wastage of any resource. Asset utilization and control is one of the major aspects of the coworking industry to sustain and grow.

3. Property Management:

Integrating technology with assets and tools allows businesses to manage and control their property. Property management allows the security officials to prevent any mishappening that might affect the business and the workforce as well. According to Harsh Binani,property management is one of the crucial elements for companies to ensure the smooth running of operations.

4. Digital Engagement and Touchless Solutions:

Coworking is an advanced work environment concept where people from diverse cultures, companies, religions, and backgrounds share the office spaces including all the amenities. Introducing Proptech in the coworking sector has been a beneficial move. The modern generation is more friendly and engaged with technology and hence concepts like touchless solutions and digital engagement help companies to offer better user experience.

5. Visitor and Access Management System:

Visitor and access control management are the most imperative aspects for any business organization to sustain. Earlier it was not easy to track and monitor the movements of the employees as well as the visitors. Today, it has become easier than ever. The enterprise visitor management system allows security officials to grant or deny access to track the movement of the guests to prevent any suspicious activity within the office premises. Whereas, Access management system restricts the employees to access any area that comes under top management jurisdiction.

6. Eliminate Paperwork and Reduce Costs:

Earlier, the coworking space used to utilize a lot of paper and ink for access and activities to the workforce. Today with Proptech, it has become convenient for the management to reduce the paperwork to protect nature and save resources. Coworking space is a cost-effective method to minimize the cost because the cost of all the amenities is shared among the people.

7. Detailed Insights

Detailed insights or reports are very important for businesses to highlight the areas of improvement and implement new ways to outplay them. Many big enterprises use detailed insights tools to rectify mistakes and create better plans to succeed. Detailed insights allow the companies to be aware of certain factors like:

Check-in and Check-out times of the employees as well as the visitors.
Average working hours of the employees
Actual Utilization of resources
Need for other resources (workstations, chairs, laptops, and so on)
Frequency of the visitors

8. Data and Employee Security:

The security of your data as well as the employees are the major concerns for any business organization. Breach of any of these, the company may face serious backlash and rapid downfall. Enforcing Proptech in the coworking space allows businesses to protect their data and employees from any outsider. Concepts like the enterprisevisitor management system and access control system help the companies to trace any suspicious activity within the office space.

9. IoT Enabled Workspaces:

IoT has gained significant popularity in recent times in the corporate, education, and hospitality sectors. IoT stands for Internet of Things which works on integrating technology with office assets and resources like tabs, machines, and computing devices. In his recent interview, Harsh Binani also stated that continuous implementation of IoT will cause a major positive shift in the coworking industry.

Therefore, these are some of the elements that strengthen the statement “Proptech is helping coworking to sustain. Proptech is transforming the workspaces to offer a whole new and holistic work environment to the workforce. Proptech also allows companies to integrate other productive concepts like hot desking and meeting room booking.

So, if you’re also looking for commercial space for offices, make sure that they are fully furnished and packed with tech equipmentbecause then you will have a higher chance of attracting the workforce.