We’re releasing today the seventh edition of FlexIndex!
Over the past month, we had several interesting changes in the KPIs. So let’s take a look at the data for May 2022.
In May 2022, the FlexIndex recovered back to 4.8 fp (flex points), after the Easter holidays seasonality effect. ‘Static Desk Occupancy’ and ‘Revenue per Available Workspace (RevPAD)’ are steadily above.
In June 2022, we could see the FlexIndex reaching 5 fp (flex points) – the 3 booking-related KPIs will continue recovering. “Average Booking Duration per Paid Meeting Space” could surpass the 2019 benchmark (as it does in March 2022) but the other two KPIs most likely will be under baseline. However, desks-related KPIs will compensate for them.
Both ‘Static Desk Occupancy’ and ‘Revenue per Available Workspace (RevPAD)’ are getting really close to the highest pre-pandemic levels.
Let’s break down the 5 FlexIndex components for May 2022.
1. Static Desk Occupancy, the first KPI recovered after the Global Pandemic, closed the month +4.1% over the baseline.
2. Revenue per Available Workspace (RevPAD) kept its positive recovery trend and, as of April 2022, is 3.7% above the 2019 benchmark.
And just for a comparison, here are they put together:
3. The Bookings per Meeting Space KPI dropped compared to March (due to the Easter holidays) and closed April 2022 with a ~16.2% gap to the 2019 benchmark.
4. The second booking KPI — Average Booking Duration per Paid Meeting Space — followed the same pattern as the previous one and is under the 2019 benchmark by ~4.6%.
5. For the final booking KPI — Booking Revenue per Paid Meeting Space — the end of May 2022 saw a ~6.5% finish below the 2019 benchmark.
For comparison, here’s a chart of all 3 Booking KPIs:
And a chart of all 5 FlexIndex components:
We’ll continue monitoring the recovery of the market next month as well.
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This is an overview of the FlexIndex 2022 Q2 status.
Read more about the FlexIndex April 2022 update.
This is our FlexIndex February 2022 update.
Our January 2022 FlexIndex update is here. Check it out!
We just released the second edition of the FlexIndex, updated with data for December 2021.
FlexIndex is a new, unique view of the flex space industry. It was created by our data team.
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Get direct access to one of our lead support specialists and book up to 4 hours of screen-sharing calls per month with them.
We will cover the basic CRM functionalities OfficeRnD supports. We will show you how to create, update and delete companies, members and opportunities. We will show you how to create custom properties to better describe them. We’ll demonstrate how to create memberships for members, change their status and invite them on the members portal.
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We will show you how to create meeting rooms and configure their pricing options, booking and cancellation policies. We will cover how to create booking credits – hourly and value-based. We will demonstrate how to make a booking and how to review its corresponding fee.
We will go over what a contract is, what are its building blocks, and what types of contracts OfficeRnD provides. We will show you how to create contracts, how to sign and how-to terminate them. We will also discuss the lifecycle of each contract.
We will show you the default resource types available in OfficeRnD. We will cover how they can be edited and when should you create custom resource types. We will demonstrate how to assign memberships on the floorplan and how to accommodate floorplan changes.
We will cover how to collaborate with members via the members portal and the mobile app. We will show you how to create posts and events. We will demonstrate how to upload information about benefits and different how-to guides on the members portal. We will also go through integrations that power up collaboration with members.
We will cover the billing reports available in the system. We will show you how to use each one and dive deeper into the data it exposes.
We will cover the occupancy and utilization reports available in the system. We will show you how to use each one and dive deeper into the data it exposes.
Set up the system on your own, following our detailed video guide. We will send you a step-by-step daily email with video tutorials on how to configure OfficeRnD. Once you аre ready, we will put you in contact with an onboarding specialist for up to 2 hours of Q&A sessions, where you can ask questions and verify your setup.
Take advantage of this 6-hour dedicated onboarding process during which our team helps you set OfficeRnD up following best practices. We will start with a short kick-off session to discuss your current processes, timelines, integrations and outline a step-by-step plan to ensure the smooth adoption of the system on your end. Our Onboarding Specialists will make the most effective use of your time together working to empower you to take full advantage of the system capabilities on your own.
This onboarding package is best for multi-location teams with complicated workflows. We will start with a short kick-off session to discuss your current processes, timelines, integrations and outline a step-by-step plan to ensure the smooth adoption of the system on your end. Our Onboarding Specialists will make the most effective use of your time together working to empower you to take full advantage of the system capabilities and reporting tools on your own.
Get familiar with the essentials in the Basic Support Package.
Get familiar with the essentials in the Standard Support Package.
Get familiar with the essentials in the Premium Support Package.
Get direct access to one of our lead support specialists and book up to 4 hours of screen-sharing calls per month with them.
We will cover the basic CRM functionalities OfficeRnD supports. We will show you how to create, update and delete companies, members and opportunities. We will show you how to create custom properties to better describe them. We’ll demonstrate how to create memberships for members, change their status and invite them on the members portal.
We will cover all billing options available in OfficeRnD. We will show you how to create tax rates and revenue accounts, how will they be applied on invoices and what discounting options the system provides. We will demonstrate how to create invoices and manually run the bill run. We will also together review the billing settings in the system and automate the billing operations.
We will show you how to create meeting rooms and configure their pricing options, booking and cancellation policies. We will cover how to create booking credits – hourly and value-based. We will demonstrate how to make a booking and how to review its corresponding fee.
We will go over what a contract is, what are its building blocks, and what types of contracts OfficeRnD provides. We will show you how to create contracts, how to sign and how-to terminate them. We will also discuss the lifecycle of each contract.
We will show you the default resource types available in OfficeRnD. We will cover how they can be edited and when should you create custom resource types. We will demonstrate how to assign memberships on the floorplan and how to accommodate floorplan changes.
We will cover how to collaborate with members via the members portal and the mobile app. We will show you how to create posts and events. We will demonstrate how to upload information about benefits and different how-to guides on the members portal. We will also go through integrations that power up collaboration with members.
We will cover the billing reports available in the system. We will show you how to use each one and dive deeper into the data it exposes.
We will cover the occupancy and utilization reports available in the system. We will show you how to use each one and dive deeper into the data it exposes.
