How does managing a coworking space differ from a traditional commercial space?
Running a coworking space is operationally more complex than managing traditional commercial real estate. Coworking spaces have a much higher density than traditional space, resulting in a higher volume of tenants (referred to as “members”) to bill, support and manage. Members expect the space to deliver a turnkey solution, including furnished offices and internet and voice services on-demand. In most traditional spaces, you are solely responsible for delivering office space without the services and amenities. Members of your coworking space will also expect you to foster a community that drives collaboration and connections.
Yardi Kube’s coworking platform eliminates the operational complexities of running and managing a successful workspace, from automating billing to fostering community.
Why is sourcing integrated coworking technology better than managing it in-house?
Historically, coworking operators have approached workspace management and delivery of services by hiring multiple outside vendors or dedicating a team of in-house engineers and programmers.
In the case of hiring multiple vendors, you often end up with disparate systems that don’t connect well, with limited automation. The result is a highly inefficient method in which simple tasks such as onboarding a new member can take hours instead of seconds. In addition, managing multiple vendors will require a large amount of time and can be cost-prohibitive in that it may require you to hire an in-house IT specialist.
If you’re considering building an in-house solution, it’s important to realise that staff and programmers may become burdened with keeping pace with the day-to-day tasks.They may not have the time to focus on building a solution that will improve the process by increasing efficiency. Because technology is constantly evolving and in order to remain competitive, you may even need a research and development team to help your business maintain its competitiveness in the market.
Regardless of whether you are hiring multiple vendors or attempting to build an in-house solution, the result will be high running costs and limited scalability. Yardi Kube is a scalable coworking space management software platform that allows non-technical admin-level staff to manage the entire customer lifecycle, from onboarding and billing to voice and data delivery on-demand.
Why is automation key to successful workspace management?
Coworking management software that lacks automation and self-service results in inefficiency. Your time will be consumed with day-to-day operations, leaving no time to focus on building the business. Simple tasks such as increasing internet performance or providing automated door access for guests can take much more time than necessary, ultimately resulting in unhappy members.
Yardi Kube removes the operational burden from running a shared workspace and allows you to focus on what’s important: your members and your locations.
How do you prevent revenue leakage in your coworking space?
In the case in which you have disparate systems that don’t speak to one another, you may not bill the member for all appropriate charges. For example, if your meeting room is not fully automated including door access, you may find that members are being under-billed for their meeting room usage.
Another example would be if your phone system is not tied directly to your billing platform, you will likely have instances in which certain voice billing data is not imported correctly, resulting in under-billing for your voice services.
Yardi Kube delivers a complete coworking management platform that ensures that all of your services are accurately billed every month to each of your members.
What should you look for in a coworking industry partner to ensure your success?
As a commercial real-estate owner, choosing the right partner is critical to your success. The platform should deliver a complete turnkey solution. It should include management software as well as all the hardware and infrastructure needed along with onsite support for both your members and your staff.
Yardi Kube provides an all-inclusive solution that allows you to quickly transform your traditional space into shared space.
How does community play a role in the success of your coworking space?
In order to attract new coworking members and retain existing ones, you will need to provide a medium for your members to connect and collaborate. Most members today are seeking a space that, in addition to facilitating their work, will help them network. Whether this is done through message boards, interactive opportunities, networking or any other means, Yardi Kube delivers a platform that drives community and collaboration in your space.
Who do I contact if I have a general question or issue at my location?
The Yardi Medusa Helpdesk are always there to help; they can be contacted by either logging in with your Yardi PIN into client central and creating a new Case or by calling them on 01786 230830 – select option 1 to speak to them directly.
What kind of reliability and redundancy does the Yardi Medusa solution offer me?
The Yardi Medusa solution has been formed with reliability and redundancy at its core. The solution offers full reliance at all key areas within the network, be it for core equipment such as the server and network switches, internet circuits, or even power.
I often have multiple different users at my location who do not know each other, what kind of security does the Yardi Medusa solution offer me?
The Yardi Medusa solution is fully secure and does not allow users to speak to each other in a shared space – unless you want them to that is! The Yardi Medusa solution allows you to control how long each account has access for and even down to an individual accounts speed to the internet.
I want to order a Yardi Medusa solution for my Coworking / Business Centre location – how long will it take until I am up and running?
There are a number of moving parts to take into about, but generally after an order is placed you can be up and running in the matter of a couple of weeks!
I have my own IT department and I worried how they will fit in with the Yardi Medusa solution?
There is no need to worry, the Yardi Medusa solution is designed for everyone in mind. The interface has several different configuration settings located within it which allows a centre to control as much or as little of the ‘IT tasks’ as they wish.
I have a large location with a lot of different clients, how many clients can the Yardi Medusa solution handle?
The Yardi Medusa solution has been around for decades in one form or another. The number of how many different clients has rose year upon year with it now easily offering over 100+!
I currently have 3 different internet circuits coming into my location from 3 different suppliers, is there anything I can do to tidy these up and make everything simpler?
Yes! The Yardi Medusa solution allows multiple different internet circuits to be added into it to manage but there is also sometimes a better way. Through Yardi Medusa we can offer a full redundant internet circuit at competitive prices, these can also be spread over different suppliers to offer full redundancy.
I currently offer my own wireless solution; will this work with the Yardi Medusa solution?
Yes, other wireless solutions will work on the Yardi Medusa solution but will be unsupported. Instead, we offer our own Grade A wireless solution which is world renown and can offer your centre a fast-reliable wireless connection. For further information please contact Yardi Medusa sales who can gladly assist.
I have just taken over a new building, where do I start? What services does Yardi Medusa offer?
At Yardi Medusa we pride ourselves in being with you every step of the way. Each solution made by us is tailor made so it is an exact match for what is required each time. Services range from full comms room kit outs to flood patching multi-story buildings. For further information please contact Yardi Medusa sales who can gladly assist.
I am worried about buying hardware which may quickly become out of date and costly to replace?
No need to worry, the Yardi Medusa contract takes that all into account and every 3 years the hardware is replaced with the latest version so you never need to think about becoming obsolete!