Coworking Technology Glossary of Terms

To say that coworking technology has evolved over the last decade or so would be a huge understatement. Fairly basic functionalities have developed into dynamic, automated services. Nice-to-have features that only a handful of coworking spaces could access have become must-haves for coworking operators around the world.

With much development still afoot, keeping track of the jargon can be difficult. That’s why we’ve put together a coworking technology glossary - to define, in simple terms, what it all means. Of course, we’ll edit and add to this as new terms come to the fore!

Access Control

A door access control system enables you to determine who can use your coworking spaces’ resources and when. For instance, you might grant full-time coworking members 24/7 access to all the areas in your coworking space (aside from private offices), while hot desk members or visitors get restricted access.

AI (Artificial Intelligence)

Artificial Intelligence is the technology that enables machines to simulate certain aspects of human intelligence. Through algorithms, it can learn information, problem-solve and make decisions based on the information it receives.

Algorithm

An algorithm is a set of instructions that are used to solve problems or perform tasks.

Think of it like a recipe: you need to perform it in the correct order to get an accurate result. In coworking, an algorithm could be used to inform the scheduling of meeting rooms based on usage patterns and booking requests.

Analytics

Analytics is the process of analysing and identifying meaningful patterns and insights in data. It can be leveraged to make intelligent and informed decisions about your coworking space. For example, you can use analytics to identify which days are the most - and least - popular with your hot desk-ers and create special deals.

Advanced Analytics

Advanced analytics leverage large datasets to make predictions and reveal hidden patterns. It’s used by businesses to garner deeper insights for strategic decision-making.

API (Application Programming Interface)

An API (Application Programming Interface) is what enables one software system to ‘speak’ with another one. It allows for the seamless exchange of data.

At Nexudus, we utilise API technology in our integrations so you can manage the different aspects of your coworking space from one easy-to-navigate platform.

Automation

Automation is the use of technology to perform actions that require little or no human involvement. In a coworking space, for example, you can use your CRM to automate the sending of invoices to members. The aim of automation is to save time and boost efficiency, allowing busy coworking managers to focus on more meaningful work.

Climate Control

A climate control system in a building can be used to determine the temperature, air quality and humidity of the space, with the aim of improving comfort and avoiding energy wastage. Smart sensors can be added to rooms and parts of the building to control the heating, ventilation and HVAC (air conditioning) systems.

Cloud

‘The Cloud’ is a collection of remote servers that can be accessed using the internet. If you have a Cloud-based system, you can store data and access services without needing lots of hardware. Nexudus is an example of a Cloud-based software system.

Communication Interface

Taking the form of an electronic circuit, a communication interface is the technology (hardware or software) that allows two or more systems or devices to share information and interact.

CRM (Customer Relationship Management)

A CRM is the hub through which an organisation can manage operations and communications. As a coworking operator, you can use your CRM to manage memberships, payments, meeting room bookings, visitor management, events, newsletters, access control, printing - and a whole host of other tasks.

Customisation

In coworking technology, customisation allows you to tailor your product or service to meet your user requirements and preferences.

A ‘white label’ system is an example of technology that can be customised. With our white label CRM, for instance, you can add your own branding to the interface to ensure brand consistency throughout the member experience.

Dashboard

A dashboard is a single-view screen that contains the key data and information pertaining to your software system. It gives you an indication and overview of how your coworking space is operating and even performing.

From the dashboard, you can navigate to further features and insights.

Data Point

A data point is simply one unit of information within a wider dataset.

Digital Whiteboard

A digital whiteboard is a must-have in any modern meeting room! It is an interactive whiteboard that has digital features, enabling meeting participants to write and annotate, and change or move objects on the screen using touch.

Event Management

Event management in coworking software refers to features that facilitate scheduling, booking and managing events. Event management tools enable you to create the event itself, manage the attendees, book rooms and take payments.

Inventory Management

Inventory management in coworking software refers to the organisation of desks, meeting rooms and other amenities, with the view of improving efficiency, availability and usage. A good coworking CRM should enable remote inventory management.

Mobile App Integration

Mobile app integration lets software function on mobile devices as well as on desktop. It’s crucial these days in allowing busy and sometimes transient members to manage their bookings, receive notifications and make payments on the go.

Optimisation

Optimisation is a word often used in content that relates to technology. To optimise technology is to make changes so that it can reach maximum performance and efficiency. At Nexudus, our technology is constantly evolving through optimisation.

Predictive Maintenance

Predictive maintenance uses AI, machine learning and data analytics to predict when a piece of equipment or machinery might malfunction. By alerting you to the potential problem, you can arrange for it to be fixed before it breaks down completely.

Remote Access

Remote access is when a program can be accessed from anywhere using the internet. It means you and your team can work on projects collaboratively wherever you are in the world, and it is particularly vital for dispersed teams.

Resource Scheduling

Resource scheduling shows the real-time availability of resources, making it quick and easy for members to book them. Calendar integration is another function of resource scheduling - one that syncs bookings with shared calendars to circumvent conflicts.

SaaS (Software as a Service)

SaaS (Software as a Service) is a cloud-based service where software systems are accessed via the internet.

Instead of paying a large one-off fee, SaaS services tend to be charged on a subscription basis, and you don’t need to install or maintain hardware. Nexudus is an example of Software as a Service.

Scalability

Scalability is a system’s capacity to manage increases in workload. A coworking CRM that is scalable will allow you to add more resources, members and locations as your coworking business grows, without you having to make big changes.

Security

Security measures are crucial when it comes to protecting your systems, networks and data. They will help to safeguard your organisation from unauthorised access, cyber attacks and data breaches. A breach can seriously damage your reputation and finances.

Smart Building

A smart building employs smart technology and sensors to manage aspects of a building such as lighting, heating and HVAC.

Sensors can identify the occupancy of a room and configure these functions accordingly. Like many of the digital tools listed here, the aim is comfort, sustainability and an enhanced member experience.

Smart Sensor

A smart sensor is a device with computing capabilities and the ability to connect to IoT technology. It detects, measures and transmits data relating to its environment.

Videoconferencing

Videoconferencing facilitates remote communication between two or more people who are based in different geographical locations. Videoconferencing platforms and meeting room technology supports remote (or hybrid) teams and virtual meetings.

Visitor Management

Visitor management software allows coworking operators to manage the flow of visitors into their space. This software can be used for visitor check-ins and check-outs, to print badges and notify the hosting members of the arrival.