The Rise of Flex Space Demand for Enterprises (Trends and Benefits)

Business Innovations

02 August 2021

The Rise of Flex Space Demand for Enterprises (Trends and Benefits)

  • Posted by Awfis Editorial

Introduction

The world is still devising ways to maneuver this unprecedented COVID-19 pandemic. Enterprises are grappling with the restrictions posed by nationwide lockdowns. However, in times of crisis, innovation molds the market and paves a way for businesses to move forward. Flex space is an example of an innovative organizational system that has altered the market dynamics in the real estate sector. Enterprises are now opting for hybrid models in office spaces to simultaneously ensure cost-effectiveness and efficiency. In its new report, CB Richard Ellis (CBRE) South Asia Pvt. Ltd revealed that India’s flexible office space market is expected to grow by 10–15% year-on-year over the next three years. Let us look at some of the reasons that account for the rising demand for flex spaces and their associated benefits for enterprises.

1. Cost reduction

The economic crater is yet to fill up, which is pushing enterprises to cut back on their finances. In this turmoil, flex spaces are turning out to be their knights in shining armor. Cost-effectiveness and affordability make flex spaces greatly beneficial during these unprecedented times. It is relatively cheaper and convenient for enterprises since they can collaborate and share the rental expenditure. This helps them manage their expenses and divert more resources into other aspects of their business to stay afloat. Cost-effectiveness is very significant among the startups and SMEs that are identifying ways to sort out their expenditure at this point. Since enterprises cannot afford hefty rentals and long-term leases of single office spaces, flex office spaces prove useful due to their low rental costs and higher return on investment.

2. Customization, specialization, and nichification

Flex spaces offer enterprises the liberty to organize and plan their work. The rising demand for flexible office spaces is due to the customization, specialization, and nichification of office spaces according to the demands of the enterprises. Now, enterprises have the liberty to work in a decentralized way from any part of the country due to work-from-home options. According to Naveen Nandwani, Managing Director, Commercial Advisory and Transactions at Savills India, “A hybrid model with a concept of work from anywhere has taken over, were employees are either working from their home or flexible office spaces.” Software as a Service (SaaS) companies such as ClickUp and Asana are offering virtual office management tools that keep track of the work progress in the firm and boost productivity in employees. The freedom of managing a decentralized office model was unimaginable a few years back. However, it is now possible with the help of flex spaces.

3. Flexible lease program

The flexible lease program is a significant advantage as it allows businesses to account for uncertain times. With single office spaces, the companies usually must execute rigid seven- to fifteen-year lease agreements, which make it difficult for companies to stay afloat. However, with flex spaces, the lease deeds are relatively welcoming for the companies since they can extend from a few months to as many years as the enterprise may deem fit. They also allow the enterprises to leverage their warehouse or office spaces when they need to expand or curb their operations.

According to Andrew Kupiec, the Chief Executive Officer of Hana, “The beauty of flex space solutions is how they’re tied to the line of sight you have and not any longer. If your business needs change and you find yourself in need of more space or less space, you have the flexibility to meet those needs accordingly.”

4. Ensure employee convenience and productivity

Flex spaces are supporting enterprises to manage employee convenience to ensure a better work environment. The work-from-home culture has burned out most employees. To tackle fatigue, using hybrid working models and investing in flex spaces is the way forward. Many enterprises are reaping the benefits of investing in flexible workspaces.

Accenture, a global consulting firm, has seen a surge in productivity after shifting to a flex space office model. Dan Johnson, Global Director of Workplace Innovation, Accenture, said, “Our flex work arrangement is one of the reasons people stay at Accenture and it has turned out to be very valuable and beneficial for us.”

Further, Mick Hollison, Vice President, Integrated Marketing and Strategy, Citrix, added, “Organizations are investing in flex space to create enticing workplaces that foster collaboration, innovation and creativity, resulting in a stronger organization with high-caliber people performing at their best.”

5. Offers safety compliances

In a bid to resolve the issue of on-site working problems due to the pandemic, flexible office spaces are adopting remote monitoring services to ensure adherence to safety protocols within the office premises. This increasingly effective trend is leading enterprises to opt for flex space. The remote monitoring services regulate and supervise every aspect of the office space with the help of artificial intelligence (AI) and deep-tech learning. AI startups such as Wobot are collaborating with flex space offices to ensure that all the standard operating procedures (SOPs) and safety compliances are followed.

Conclusion

“Enterprises are coming up with ideas and are substituting their present working model with a remote-first model. The reason is simple. They advocate the fact that a full-time remote workforce is not conducive for all employees in the long run. Every company understands the importance of a dedicated space for their employees to meet and work since productivity and in-person exchange of ideas are undeniably the key elements for a company’s growth,” says Georgia Collins, Executive Vice President of Client Solutions, Hana.

Flex spaces are filling this gap by going a step further and giving the organizations an option to adopt remote-first policies and transform their standing with the current market trends. They even go as far as to offer a network of workspaces inside and outside urban centers for employees to use. Moving forward with this idea, an enterprise adopting the right flex space can devise a unique hybrid working model for their employees to choose the workspace location that works best for them and is conducive to collaborative working.

5 Apps to Increase Productivity at Work

Business Innovations

25 August 2021

5 Apps to Increase Productivity at Work

  • Posted by awfis

Life has become much easier with the advent of technology. With access to latest technology, work has become less strenuous. The biggest contribution to technology has been the invention of smartphones. They have not only made communication easy, but also play core to organize our lives. The hundreds of ‘add on apps’ have made life stress-free and have definitely helped increase productivity, in every possible way.

App

Here are some applications that we feel will help you outperform at work.

  1. WandurList:

As the name suggests WandurList is an app that helps you in maintaining a number of lists. It is a clean application which enables you to make multiple lists under various folders. It is available for Android, iOS and web users, but what makes it stand out is that WandurList enables you to access the lists from anywhere and from any device. The lists that you make are saved in the cloud, thus letting you share the lists with the other users. So the next time you are out of your office and need to assign work or access previous work, WandurList will be your go to app.
wunderlist.com

  1. Shoeboxed:

Tired of keeping track of your expense receipts before submitting for tax reduction every month? We have a perfect solution for you. Use shoebox and say goodbye to the strenuous process of filling out forms. Shoeboxed is perfect for people who are up and about in the name of the business. Shoebox can access either via android, iOS mobiles or also via the web. Scan the bills and Shoebox sorts out and collates the receipts for you and also generates an expense report.  By the end of the month all you will have to do is send it out to your accounts team.
shoeboxed.com

  1. Speek:

Conference calling is an important aspect of how work happens in the business world. With growing business environment one needs to connect to people from various parts of the world and that’s where Speek steps in. It is an application that enables you to have a con-call by eliminating the process of dialling the numbers and the pin codes. Speek gives you a personal link which has to be shared with the people you want to have the conference call with and all they have to do is click the link to join in via their laptop, smartphone or the computer. So want to make a conference call? It’s just a link away now!
speek.com

  1. Keeper:

Have a lot of passwords of various platforms to keep track of? Tired of sending email to the IT to retrieve your passwords? This application takes that burden of remembering passwords off your shoulders. You have one master password that has all the passwords stored in it. If any hack is attempted all the passwords are automatically erased to maintain secrecy. This application can be accessed via a phone, laptop or a computer with the android, IOS software or by using the web.
keepersecurity.com

  1. Prezi:

Need to make flawless presentations that capture your client’s attention? We have a unique cloud based presentation application – Prezi. This app lets you put down all the information on one canvas and mark it out instead of making separate slides. It uses Adobe Flash Technology to animate the presentation. The application is easy to use and is also compatible for Windows, chrome, iOS and the Web.
prezi.com

Try the apps out and see the increased productivity that these applications bring about in your work life!

Join our business centre in Bengaluru, or our co-working space in Delhi.

Freelancers Work Better in Office Spaces than Coffee Shops

Business Innovations

25 August 2021

Freelancers Work Better in Office Spaces than Coffee Shops

  • Posted by awfis

You would have seen freelancers and solopreneurs working intensely at coffee shops, buying a cup of coffee accompanied with something to bite on now and then, more to keep the table occupied rather than ordering by choice! But working out of a coffee shop comes with a set of challenges. Being in such a relaxed, casual ambience for work, you are not really motivated enough and you can only rely on self-motivation to keep you going.

Thankfully, this is something that can be resolved by working at collaborative office spaces. Leased workspaces and desks that you can find on a reliable collaborative working website like https://www.awfis.com/inspiration/wp-content/uploads/2016/06/shutterstock_3835072871.jpg.com will also give you access to all amenities that you need when you work in an office, like free Wi-Fi and unlimited tea and coffee to keep you fueled up.

Freelancers in office spaces

Freelancers are looking for offices spaces with a positive atmosphere to conduct their work. More often than not, freelancers have a lonely job. They are at their laptops doing their work. However, at home, they have several distractions to keep them away from their desk. Coffee shops do not make the best talking environments for productive business meetings as a plethora of distractions come your way. No such worries exist in a collaborative working space where you are paying rent to be at your desk for work.

Let’s talk about the motivation factor now. Because you are in a roomful of people working on their desks, you are motivated to be a part of that workforce. You can make some great professional friends. As a freelancer, you cannot deny that working alongside others is a much better feeling that being a lone wolf, especially on days when things are a bit rusty. The general working ambience keeps you afloat, something that you find in plenty of plug & play rented office spaces.

If you have not considered working in a collaborative working environment, now is a good time to do that. All your criteria will be met and your business will commence in a cheerful and inspiring environment. After all, your venture deserves only the best.

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For Young Entrepreneurs in India, Awfis is the New Office

Business Innovations

25 August 2021

For Young Entrepreneurs in India, Awfis is the New Office

  • Posted by awfis

As they say, all you need to succeed is a big idea!
However, in the fiercely competitive world, you have to be careful about how you use that big idea. When you start off, you have multiple challenges on your side, including the really daunting one of arranging for start-up capital. You will be surprised to know the number of Unicorns which started off on a shoestring budget.

Things have changed since. You no longer need to set up a big office space and buy all the furniture necessary to set off your own company. Welcome to a new way of working out of an office: Awfis! At Awfis, you will get exactly what you need for your start-up or your work as an entrepreneur: a highly productive space to conduct your business.

Awfis is your new Office

Collaborative working has been around for a while now, but it is only now that it is starting to catch up here in India. At the forefront of this change is Awfis. We have Pro-Working centres where you can work in your own leased offices, along with your own team of professionals. For those who are playing it out as a lone wolf now, this is a better opportunity to make your mark!

There are many reasons why Awfis is the new office today. For example, the meeting rooms which we have in the leading cities of the country are all located in premium destinations. The centrality of the location makes it easier for you to commute and network with people for meetings and discussions. Clients and customers will not shy away from visiting your office premises because it is far away. Your business is in a better position, location wise.

Additionally, you are working alongside professionals who can turn out to be excellent future business contacts for you. Who knows, you may get the next big project from the person seated right next to you in the collaborative working ambiance! Also you may not have to hunt around for a professional in a desired field because the person may be working in the next cabin. Collaborative pro-working spaces are an excellent choice for business networking.

Awfis ensures that you get the best technological and infrastructural support when you work in our Co-Working centres. You will appreciate the environment and that will certainly inspire you to work even harder, the wind beneath the sails that you need when you are starting off.