How Workbar Leveraged OfficeRnD and Stripe for Enhanced Operations and Growth

 

 

 

 

workbar coworking space
  • location icon
    No of sites 12
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    United States Greater Boston Area

About WorkBar

 

Workbar, a leading Massachusetts-based coworking space with 12 locations throughout the Greater Boston Area, is a community-first organization. Workbar prides itself on connecting members with each other and providing a diverse and inspirational environment for workers to connect and grow together. Operations is at the core of their business model and they have recently transitioned from a homegrown tech stack, to adopting OfficeRnD Flex and Stripe to transform their payment solutions completely.

Overview

Efficient payment processing and management systems are important for smooth flex operations, but Workbar struggled to maintain efficient operational workflows. OfficeRnD’s CEO, Miro Miroslavov sat down with CEO of Workbar, Sarah Travers, to discuss where Workbar was before OfficeRnD and Stripe, where they are now, and everything in between.

  • OfficeRnD Flex and Stripe help us run really efficiently, make data-driven decisions, and manage our risks effectively.

    sara-travers
    Sarah Travers
    CEO, WorkBar

The challenge

 

CEO of Workbar, Sarah Travers, emphasized the importance of streamlined operations and robust payment systems in the Workbar business model. However, the organization still faced challenges in operating a diverse range of payment methods, maintaining efficient operational workflows, and managing risk assessments.

 

The solution

 

The integration between OfficeRnD and Stripe provided Workbar with a comprehensive solution for managing coworking spaces and processing payments. Sarah highlights the importance of payments for operators:

Payments represent the most crucial aspect of a business. It’s cash flow. It’s profitability. It’s growth. I think about payments in a couple of different ways from the customer’s perspective. The payment methods must be obviously low-cost and frictionless. If someone wants to pay me, I want to make it easy for them to do that.

Sarah made a point to mention how the customer’s experience with the actual checkout page can make or break a sale. Based on the functionality and level of ease or difficulty with the checkout process, customers often stop and think, “Do I really need this space? Do I want to spend this money? Do I want to spend this money with this company?”

Workbar

Creating an experience where something so transactional feels easy and effortless, automatically puts customers in a positive mindset and lets them know their needs are being considered.

How Workbar is benefitting from the OfficeRnD/Stripe integration today:

  • Efficient Payment Processing: The integration of Stripe in OfficeRnD streamlined Workbar’s payment processes, reducing the friction in transactions and enhancing customer experience.
  • Data-Driven Decision Making: Workbar leveraged the data integration capabilities of OfficeRnD and Stripe for operational and financial analysis. Travers highlighted, “There are so many interesting integrations between these two companies that really help Workbar make some really good decisions.”
  • Cost Reduction: Moving from credit card payments to ACH transfers significantly reduced the payment processing costs, positively impacting Workbar’s bottom line.
  • Support for Diverse Payment Methods: The integration provided a platform to explore various payment methods, including mobile payment applications, which are increasingly relevant in the consumer-facing business of coworking spaces.
  • Managing High Transactional Risk: Stripe’s innovative solutions like instant debits and financial connections helped Workbar manage the risks associated with their transactional business model.

This move enhanced Workbar’s ability to manage cash flow, profitability, and growth more effectively. Travers encapsulates the value of this integration saying, “We wouldn’t be able to do our business without the two software. OfficeRnD Flex and Stripe help us run really efficiently, make data-driven decisions, and manage our risks effectively.”

Conclusion

The collaboration between OfficeRnD and Stripe has been instrumental in transforming how Workbar handles its payment solutions. Sarah Travers’ experience reflects the tangible benefits of this integration in enhancing operational efficiency, reducing costs, and providing data-driven insights. As the coworking space industry evolves, such innovative solutions will be crucial in maintaining competitiveness and profitability.

  • We wouldn't be able to do our business without OfficeRnD Flex and its integration with Stripe.

    sara-travers
    Sarah Travers
    CEO, WorkBar
  • There are so many interesting integrations between OfficeRnD and Stripe that immensely help Workbar make some good decisions.

    sara-travers
    Sarah Travers
    CEO, WorkBar

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    No of sites 12
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    United States Greater Boston Area
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