{"id":5285,"date":"2023-06-01T11:20:19","date_gmt":"2023-06-01T11:20:19","guid":{"rendered":"https:\/\/www.yardikube.co.uk\/?p=5285"},"modified":"2026-04-02T12:03:45","modified_gmt":"2026-04-02T12:03:45","slug":"why-a-systems-strategy-is-at-the-core-of-driving-profits-and-services","status":"publish","type":"post","link":"https:\/\/www.yardikube.com\/en-gb\/blog\/why-a-systems-strategy-is-at-the-core-of-driving-profits-and-services\/","title":{"rendered":"Why a Systems Strategy is at the Core of Driving Profits and Services"},"content":{"rendered":"\n

Yardi\u2019s Justin Harley joined a panel discussion at this year\u2019s FlexSA Conference 2023, held in London, with Zoe Ellis-Moore from Space to Places<\/a>, Jonny Rosenblatt from Spacemade<\/a> and Chris Boultwood from Workspace<\/a> who moderated the conversion regarding why a system strategy is at the core of driving profits and services within coworking and flexible workspaces.<\/p>\n\n\n

\n
\"FlexSA<\/figure><\/div>\n\n\n

Technology Strategy: Aligning Technology with Business Goals<\/h2>\n\n\n\n

In today’s rapidly evolving business landscape, where the flex sector is booming, the integration of a system strategy becomes paramount to drive profits and deliver exceptional services within coworking and flexible workspaces. Boultwood opened the conversation by asking the panel to discuss technology strategies and what are the challenges found there.<\/p>\n\n\n\n

Rosenblatt responded by highlighting that for flex providers like Spacemade, the focus is on three key elements, \u201chospitality, building a network of spaces and transparency,\u201d which requires effective utilisation of technology. By leveraging technology and utilising a member app for access control to its offices, Spacemade enhanced engagement and communication with its members. Therefore, showcasing technology as an essential business tool rather than a “gimmick”.<\/p>\n\n\n\n

\n

“Hospitality is about engagement, it’s the way in which we interact with our members and the touchpoints in how they interact with us. We identified early on that you want to have as much technological connection with your members as possible. The way we\u2019ve done this is with an app \u2013 which I\u2019m sure most operators have \u2013 but within our business, you can only access our buildings by using the app.”<\/p>\n<\/blockquote>\n\n\n\n

This technology-driven approach facilitated efficient member interaction, fostered communication between tenants and \u201cbuilt a network of spaces that is usable for members,\u201d stated Rosenblatt. Embracing technology as an integral part of the business strategy enhances the overall member experience and strengthens the relationship between the workspace provider and its clients.<\/p>\n\n\n\n

Rosenblatt also noted that the key to expanding and meeting goals is to have a \u201crobust technology infrastructure.\u201d This will not only ensure that members can \u201cexperience frictionless processes\u201d but will also create a superior user experience for landlords. The integration of \u201cconnected systems,\u201d which \u201cpulls all the data from various sources into one dashboard\u201d helps to build a network between spaces and will allow businesses to access \u201creal-time data.\u201d Therefore, enhancing transparency and \u201cgrowth\u201d within a company\u2019s system strategy for coworking and flexible workspaces.<\/p>\n\n\n\n

Technology as a Competitive Edge<\/h2>\n\n\n\n

Following Rosenblatt\u2019s response, Ellis-Moore continued the discussion by highlighting how \u201ctechnology can also be used as a competitive edge\u201d for businesses. In the flexible workspace sector, technology can serve as a powerful differentiator, it can create a \u201cpoint of difference,\u201d stated Ellis-Moore. Flex providers can leverage technology to \u201coffer low-cost, fully automated solutions,\u201d such as \u201cremote security monitoring\u201d and \u201cremote tours.\u201d With these offerings, businesses can enhance operational efficiency while providing competitive prices. Ellis-Moore further noted that while this approach may be quite different from the traditional \u201chigh-end, five-star service model\u201d it also allows businesses to tap into alternative market segments and cater towards diverse customer preferences and requirements.<\/p>\n\n\n

\n
\"Justin<\/figure><\/div>\n\n\n

Harley ended the first half of the discussion by highlighting how \u201ctech is not a tech strategy, it is part of your business strategy.\u201d He states how technology is \u201cfundamental for the tech strategy to be wrapped up in everything a business does.\u201d Harley expands on this by stating that, \u201cIn your boardroom, you need people that understand it, someone who understands how tech is going to fit into the business strategy and make a real difference,\u201d – \u201cwhether that is a point of differentiation,\u201d as Ellis-Moore discussed, or \u201cimproving operational efficiency,\u201d as Rosenblatt debated. The work and the strategy with \u201cbuilding the back office and having the right people such as data analysts or project managers,\u201d that\u2019s when a technology strategy becomes \u201cextraordinary,\u201d notes Harley.<\/p>\n\n\n\n

Evaluating ROI: Automation and AI for Enhanced Efficiency<\/h2>\n\n\n\n

The second half of the discussion focused on key considerations businesses should have when evaluating ROI. Harley responded by urging the audience to \u201clook to automate their routine and humans will manage the exceptions.\u201d He went on to discuss that when evaluating the ROI for system implementations, businesses must focus on \u201cautomating routine tasks to free up human resources for more valuable activities.\u201d He states that automation not only improves operational efficiencies but also \u201cenhances the overall experience for both staff and customers.\u201d<\/p>\n\n\n\n

By leveraging technologies such as artificial intelligence (AI), businesses can optimise operations and allow AI algorithms to handle \u201croutine tasks such as availability and pricing.\u201d He further notes that this enables employees to focus on higher-value activities, therefore \u201cleading to improved productivity and increased ROI.\u201d Boultwood followed Harley\u2019s point and agreed that \u201cthe best implementations support people\u2019s day-to-day roles,\u201d empowering employees to dedicate more time to strategic initiatives and member engagements within coworking and flex spaces.<\/p>\n\n\n\n

Connecting People, Platforms & Processes<\/h2>\n\n\n\n

However, while the whole panel agreed that technology can increase operations, Ellis-Moore specified that before implementing new systems, businesses must ensure that their \u201ccore operations and processes are optimised first,\u201d as Bill Gates once quoted – \u201cAutomation applied to inefficient operations will magnify inefficiencies.\u201d She discussed that, \u201cIt\u2019s easy to see technology as the solution that\u2019s going to solve all the problems,\u201d but without the core and the connection between \u201cpeople, platforms and processes,\u201d businesses will not be able to succeed. Therefore, Ellis-Moore states businesses must evaluate \u201ctheir current technology stack and identify areas for improvement\u201d before implementing new solutions if they wish to align their system strategy with their business strategy.<\/p>\n\n\n

\n
\"Flexible<\/figure><\/div>\n\n\n

Rosenblatt expanded on this point and highlighted that all businesses make the mistake of investing in new tech systems before considering the person who is going to use them. He argued that if the community manager, who is \u201cfundamentally going to be the person that uses this new system,\u201d cannot use it, then flex companies will be \u201cwasting hundreds of thousands of pounds.\u201d Therefore, considering your process and providing comprehensive training to your people first \u2013 before investing in new technology \u2013 is the key to achieving organisational objectives.<\/p>\n\n\n\n

By ensuring that \u201ccommunity managers can effectively utilise technology platforms and systems,\u201d Rosenblatt states, businesses will be able to enhance the overall success of their system strategy – \u201cBut if that\u2019s never going to happen, then companies will waste a lot of money on it.\u201d<\/p>\n\n\n\n

Getting the Basics Right: Importance of Comprehensive Systems Strategy<\/h2>\n\n\n\n

In a fast-paced business landscape, Boultwood notes \u201cbusiness timing is key.\u201d So, with that in mind, he asked the panel, \u201cWhen is the moment to think about implementation?\u201d \u2013 Ellis-Moore responded by stating \u201cToday.\u201d She went on to emphasise that businesses \u201cneed to be thinking about their strategy.\u201d They need to start considering and looking at their \u201cpayment systems, customer relationship management (CRM) tools, marketing platforms and call tracking systems,\u201d if they wish to identify gaps in their processes and improve decision-making when choosing solutions for their coworking and flexible workspaces.<\/p>\n\n\n\n

By gaining these insights, \u201cbusinesses can align their roadmap with technology and make informed decisions\u201d regarding products and solutions. Consequently, creating a frictionless and seamless experience, which Ellis-Moore highlights \u201cis everyone\u2019s goal.\u201d Additionally, she notes that having a well-defined systems strategy will not only \u201cset clear performance goals\u201d but will help to \u201cincrease ROI across all areas of the business” within coworking and flex spaces.<\/p>\n\n\n\n

However, it’s important to recognise that building a comprehensive system doesn’t happen overnight. Rosenblatt\u2019s advice to the audience was \u201cto start with simple steps and focus on getting the fundamentals right before scaling up.\u201d He stresses, \u201cAs the number of sites and operations grow, the challenges will become more complex,\u201d and so finding the right balance between systems will become critical.<\/p>\n\n\n

\n
\"Coworking<\/figure><\/div>\n\n\n

Is Coworking Behind?<\/h2>\n\n\n\n

Finally, in response to Boultwood\u2019s penultimate question, Harley emphasised while the flex industry may offer a high level of service, it is lagging in terms of technology and automation when compared to other sectors. Harley points out that built to rent, for example, showcases \u201chighly automated processes, from lease signing to customer ID verification.\u201d This level of automation not only improves operational efficiency but also enhances the overall customer experience.<\/p>\n\n\n\n

One notable area where the flex industry can learn from BTR (build to rent) sector is \u201cthe utilisation of chatbots and AI,\u201d suggests Harley. He quotes that a lot of Yardi’s clients have discovered that \u201c49% of their enquiries occur outside of regular business hours.\u201d By leveraging AI-powered chatbots, BTR providers are effectively engaging with prospects during non-business hours and are also increasing operational efficiencies as, \u201cAI can talk to a lot of different databases at the same time, which humans can\u2019t do.\u201d Therefore, such technological advancements offer valuable insights for coworking and flex providers and will help to enhance their systems and processes, Harley states.<\/p>\n\n\n\n

Moreover, Ellis-Moore also suggests that the flex industry can draw inspiration not only from real estate businesses but also from other sectors such as hotels. She highlighted that the success of \u201cPremier Inn, for instance, lies in its efficient tech systems and processes that consistently deliver value and meet customer expectations.\u201d Learning from their experience, the flex industry can ensure communication channels are \u201cmanaged more efficiently and effectively\u201d and provide a seamless, satisfactory service experience.<\/p>\n\n\n\n

Therefore, to drive the flex industry forward, it is essential to explore technological advancements and best practises from other sectors. By implementing a systems strategy that integrates automation, AI and efficient processes, the flex industry can enhance profitability and services, as well as position itself as a leader in the market.<\/p>\n\n\n\n

Follow\u00a0Yardi Kube on LinkedIn<\/a>\u00a0for the latest news, customer stories and blog posts.<\/p>\n","protected":false},"excerpt":{"rendered":"

Yardi\u2019s Justin Harley joined a panel discussion at this year\u2019s FlexSA Conference 2023, held in London, with Zoe Ellis-Moore from Space to Places, Jonny Rosenblatt from Spacemade and Chris Boultwood from Workspace who moderated the conversion regarding why a system strategy is at the core of driving profits and services within coworking and flexible workspaces.…<\/p>\n","protected":false},"author":897,"featured_media":5287,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[218],"tags":[],"class_list":["post-5285","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coworking"],"acf":[],"yoast_head":"\nWhy a Systems Strategy is at the Core of Driving Profits & Services<\/title>\n<meta name=\"description\" content=\"Yardi\u2019s Justin Harley joined a panel discussion at FlexSA 2023 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