Benefits of Next-Gen Revenue Management and Automation in Coworking
By
Greg Carpentier
·
1 minute read
As the coworking industry continues to grow, providers face new challenges related to revenue management and automation. Managing inventory, leases, and pricing can be complex and time-consuming, leading to inefficiencies and missed revenue opportunities. That's why the next generation of revenue management and automation tools is gaining popularity in the coworking industry.
These tools provide valuable insights into office layouts beyond headcount size, tracking key information such as office location, windowed vs. non-windowed, square footage of the offices, and conference room size square footage. By combining this data with lease start and expiration dates, deal financials, and occupancy information in real-time; providers can gain a better understanding of the performance and trends of each coworking location.
In addition to providing insights, next-generation revenue management and automation tools can offer pro forma and budgeting tools. This allows providers to apply budgets across an entire organization and track their real-time performance. No more surprises. With AI algorithms analyzing data and adjusting pricing in real-time, pricing recommendations are continuously optimized for maximum revenue while maintaining occupancy rates.
At Floorwire, we specialize in providing next-generation revenue management and automation tools designed explicitly for the coworking industry. Our platform allows coworking managers to understand their office layouts at each location beyond just headcount size. By tracking critical information and combining it with real-time data, we offer daily visual dashboards into the performance and trends of coworking locations.
Our platform also offers transparent and AI-driven daily price recommendations on inventory from a central source of truth. By automating pricing decisions, our tools help providers increase revenue, reduce inefficiencies, and improve the overall customer experience. With a primary source of truth for inventory, pricing, and performance data, providers can make informed decisions about allocating resources and making strategic investments.
Overall, the benefits of next-generation revenue management and automation tools in coworking cannot be overstated. By embracing these tools, providers can stay ahead of the competition, optimize revenue potential, and provide an exceptional customer experience.
At Floorwire we proudly offer the industry's leading revenue management and automation platform. Contact us today to learn how we can help your coworking business succeed.