The White Paper released by Essensys on June 26, 2023, discusses how software and technology facilitate building owners in providing flexible working spaces. It explains the concept of co-working spaces, where employees from different companies share workspace. The paper acknowledges the influence of the COVID-19 pandemic on accelerating trends like digitalization, flexibility, and sustainability in the real estate industry, continuing to shape future strategies. It notes the increasing adoption of flexible workspace due to economic pressures faced by both startups and larger companies, prompting a reevaluation of fixed costs such as office spaces to enhance savings or redirect investments into crucial business areas. This shift has implications for the wider office industry, posing challenges in maintaining occupancy rates and devising compelling offerings amid growing competition. The paper illustrates these insights with case studies demonstrating the costs and benefits associated with embracing flexible workspace models.

Keywords: Access Controls, Employee Productivity, Fire/Life Safety, Internet of Things (IoT), Property Management, Flex Space