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Today, weβre releasing our fourth monthly FlexIndex update, with data for February 2022. This edition is pretty exciting, as weβre seeing a strong recovery across the board. Plus, one of the KPIs has finally reached (and even surpassed) the 2019 benchmark!
Letβs jump in and see how the flex space industry performed over the last month.
After the slow start in January, the FlexIndex reached one of its highest levels since the COVID-19 pandemic started. Februaryβs score of 4.3 fp (flex points) is comparable to October and November, which had scores of 4.2 fp and 4.4 fp, respectively.
All five FlexIndex KPIs are recovering well, with βStatic Desk Occupancyβ becoming the first one to reach the 2019 benchmark since the pandemic started. Hopefully, this trend will continue during the upcoming months and will positively affect the rest of the FlexIndex components.
Hereβs a breakdown of the 5 FlexIndex components in February 2022:
1. Static Desk Occupancyβs positive trend accelerated and this KPI became the first one to reach and even surpass the 2019 benchmark! Currently, Static Desk Occupancy sits at 1.7% above the benchmark.
*Please note that our data comes exclusively from active OfficeRnD clients at the moment of the index calculation. This could lead to minor discrepancies between the monthly FlexIndex updates but the data trends and conclusions remain the same.
2. Revenue per Available Workspace (RevPAW) continued its sharp recovery (which started back in March 2021), finishing the month only 3.1% below the 2019 benchmark.
3. After the seasonal decline in December, βBookings per Meeting Spaceβ has been steadily trending upward. As of February 2022, this KPI is 28.5% below the 2019 level.
4. The second booking KPI β βAverage Booking Duration per Paid Meeting Spaceβ β didnβt recover from the holiday slump right away, reaching lower levels in January compared to December. However, this KPI performed much better in February, as it had a sharp rally, finishing the month 17.4% below the 2019 benchmark.
5. Similar to the previous component, βBooking Revenue per Paid Meeting Spaceβ had a disappointing start to the year, being almost 40% below the benchmark in January. Fortunately, this KPI also rallied, finishing February 26.8% under the 2019 benchmark.
For comparison, hereβs a chart of all 3 Booking KPIs:
And a chart of all 5 FlexIndex components:
As you can see, all 5 components are trending upward as of February 2022. This is a promising sign for the industry, especially since the expected post-holiday recovery didnβt materialize in January. We hope this trend continues over the next months, with even more KPIs reaching the 2019 benchmark.
Next month, we will compile everything we learned about the industry over Q1 2022 in a new downloadable FlexIndex report. You can sign up here to receive the report via email and follow us on social media to stay up to date with the latest FlexIndex updates.
The data we use to calculate the FlexIndex and its KPIs comes exclusively from active OfficeRnD clients at the moment of the index calculation, who are not subject to a special exemption. We donβt keep data from our former clients and their historical data isnβt reflected in the index.
However, note that the 2019 benchmark is locked, so it includes companies, which are no longer active as of today. This can lead to some small inconsistencies between the different FlexIndex editions.
Also, for some of the KPIs, the data is normalized to exclude outliers and demonstrate the real trends. In addition, our platform does have the flexibility for new customers to upload their own historical data. This could lead to minor deviations (up to 5%) in the historical trends of the FlexIndex.
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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 Π°re 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.
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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. Weβll 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 β 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 Π°re 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. Weβll 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 β 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.
Plan Overview | |||
What's included? | 100 members 1 location | 200 members 2 locations | tailor-made plan to match your business needs |
Additional members | Add-on ![]() | Add-on ![]() | |
Additional locations | Add-on ![]() | ||
Members limit | 200 members | 500 members | custom |
Locations limit | 1 location | 4 locations | custom |
Contracts and memberships | |||
Membership management | β | β | β |
Full-range contract types | β | β | β |
Customizable contract templates | β | β | β |
Contract lifecycle management | β | β | β |
Configurable stepped deals | β | β | β |
Contract approval workflow | β | β | β |
Billing and payments | |||
Custom recurring and one-off plans | β | β | β |
Automatic billing and invoicing | β | β | β |
Payment gateway integrations | β | β | β |
Deep integration with Xero and Quickbooks | β | β | β |
Meeting room bookings | |||
Meeting room inventory and pricing management | β | β | β |
Allocate hourly or monetary credits to memberships | β | β | β |
Set rules for meeting room bookings and cancelations | β | β | β |
Public meeting room booking portal | β | β | β |
Member apps | |||
Members mobile app | β | β | β |
Member portal | β | β | β |
Branded apps + push notifications ![]() | Add-on | Add-on | β |
Rooms tablet app | β | β | β |
Reception tablet app![]() | Add-on | β | β |
Reporting and analytics | |||
Revenue report | β | β | β |
Occupancy report | β | β | β |
Invoices and ballance | β | β | β |
Space growth | β | β | β |
Check-ins | β | β | β |
Analytics Core NEW | β | β | β |
Lead and member management | |||
Member and company accounts | β | β | β |
Leads and opportunities | β | β | β |
Guest management | β | β | β |
Issue tracking | β | β | β |
Occupancy and resources | |||
Interactive floor plans | β | β | β |
Visual resource management | β | β | β |
Occupancy dashboards | β | β | β |
Utilization reports | β | β | β |
Custom resources | β | β | β |
Integrations | |||
Accounting | |||
Xero | β | β | β |
QuickBooks | β | β | β |
Payment | |||
Stripe | β | β | β |
GoCardless | β | β | β |
Paypal | β | β | β |
Authorize.net | Add-on | β | β |
Braintree | β | β | |
Forte | β | β | |
Placepay | β | β | |
Ezidebit | β | β | |
Omise | β | β | |
Bottomline | β | β | |
WorldPay | β | β | |
CardConnect | β | β | |
PayDock | β | β | |
Door Access | |||
Salto KS | β | β | β |
Salto ProAccess ![]() | Add-on | Add-on | β |
KISI | β | β | β |
Brivo | β | β | β |
Printing | |||
ezeep | β | β | β |
WiFi Network / Check-in | |||
Medusa WiFi | β | β | β |
MikroTik | β | β | β |
Aruba | β | β | β |
Iron Wifi | β | β | β |
Cisco Meraki | β | β | β |
CRM | |||
HubSpot CRM | β | β | β |
Capsule | β | β | β |
Rialto | β | β | β |
Collaboration & Community | |||
Slack | β | β | β |
Google Calendar | β | β | β |
Zapier | β | β | β |
Included.co | β | β | β |
Electronic Signatures | |||
HelloSign | β | β | β |
*additional charges per eSignature | *additional charges per eSignature | *additional charges per eSignature | |
Security & Extensibility | |||
Single sign-on (SSO) ![]() | Add-on | β | |
Webhooks ![]() | Add-on | β | |
API access ![]() | β | ||
Test environment ![]() | Add-on | β | |
Customer Success & Support | |||
Standard | β | β | |
Ultimate | Add-on | Add-on | β |
Dedicated Customer Success Manager | β |
During Your Onboarding Period | |||
Dedicated Onboarding Specialist | β | β | |
Onboarding Calls and/or Training Sessions | 2 hours | 3 hours/month | 5 hours/month |
After Your Onboarding Period | |||
Access to Documentation Portal and Resources | β | β | β |
Email & Chat Support ![]() | β | β | β |
Priority Case Handling | β | β | |
Dedicated Support Specialist | β | ||
Phone Support NEW![]() | β | ||
Dedicated Q&A Support Sessions | 2 hours/month | 4 hours/month | |
Document & Template Customization ![]() | Add-on ![]() | 1 doc/month | 2 docs/month |
Support Response Time | |||
Critical | 4h | 2h | 1h |
Restricted Operations | 24h | 12h | 8h |
Normal Severity | 24h | 20h | 10h |