www.managedITmag.co.uk 5 NEWS continued... workspace, 57% of landlords said it was to align with current market trends. Other reasons are to keep pace with competitors (54%), to enhance the value of their property (43%), to maximise revenue from empty or underutilised space (40%) and to futureproof assets (35%). www.infinitspace.com … Office building operators missing out on quick wins Traditional office building operators are struggling to adapt to the changing demands of tenants, with 99% of asset managers saying it is harder to make money from commercial buildings post-pandemic and 18% working hard to maintain occupancy rates, claims a new report from workplace access, experience and analytics platform Accessia. Adapt To Survive: The Coworking Revolution, based on a survey of 200 UK asset managers, shows that many property managers are struggling to adapt to the rapidly changing needs of SMEs caused by hybrid working and economic challenges. While the report finds that 44% of building operators would like to offer leases of five or more years, a significant portion of SMEs would prefer shorter, more flexible leases of around one to two years. In response, 33% of operators are now considering offering flexible contracts as a means of earning extra revenue. Accessia warns that as they transition towards a flex space model many operators are doing so with their eyes closed, pointing out that 84% are failing to gather data on things like meeting room usage to understand how their spaces are being used. Mark Loney, CEO of Accessia, said: “Tenant churn, low occupancy rates, rising costs, falling revenue and sustainability targets are all formidable challenges for building operators. The rise of the flex space model has compounded their problems, making the fight for tenants more competitive than ever. “Operators are being forced to adopt a flexible approach themselves just to compete, but the concept is still in its infancy and the path from struggling traditional office building to profitable coworking-style flex space is not well trodden.” He added: “To make this transition a success, operators need to use everything they have to optimise their offerings. As a workplace access, experience and analytics platform, we at Accessia know what kind of data is available to building operators and just how valuable it can be for informed decision-making. It’s a little alarming, then, that 84% are leaving these insights on the table by not collecting or analysing such data. At best, they’re missing quick wins to boost revenue. At worst, they’re stumbling towards a flex-space model with their eyes closed, which is a big mistake in what is an unbelievably competitive market.” www.accessia.com … iplicit outflanks the opposition The Tank Museum in Bovington, Dorset – recently named England’s top visitor attraction by global insight agency BVA BRDC – has chosen iplicit’s award-winning cloud accounting software to run its finances. The registered charity, which tells the story of the tank from the mud of the Somme to the deserts of Iraq, Millwall FC makes new signing to boost performance Millwall FC is aiming to streamline its financial operations after appointing Eureka Solutions as the club’s Official Business Management Software Supplier. Headquartered near Glasgow, Eureka Solutions is an expert in business software solutions such as Oracle NetSuite, Sage, iplicit and its own system integration platform Besyncly. Its broad client base already includes Luton Town, Derby County and Heart of Midlothian football clubs, Juddmonte and the R&A, as well as the St Andrews Links Trust, which earlier this year reported record earnings of £43.8m. Eureka Solutions will implement Oracle NetSuite ERP to transform Millwall’s ability to track and manage every aspect of its financial performance, including revenue streams such as season ticket sales, hospitality packages, catering and sponsorship, which in many organisations are still managed in separate systems. Emma Parker, Chief Finance Officer at the Championship club, said: “A lot of our analysis is done on spreadsheets because we haven’t had a proper system in place, which makes reporting very clunky. We also spend far too much time producing reports that become outdated by the time of presentation due to the fast-paced industry we are in. I wanted an end-to-end system that could take care of invoice processing, expense processing and real-time reporting, and NetSuite will be able to do this.” She added: “I report regularly to our board of directors on the financial status of the club. Rather than creating a presentation using six‑week‑old data, I will be able to provide a dashboard showing the things they need to know, such as how many shirts or beers we sold at the weekend. The ability to provide up-to-date financials on key elements of the club will let us direct resources to areas that most need attention.”
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