The Hybrid Workplace Software Market Explodes With A Frenzy Of Innovation
26, April 2022
The Hybrid Workplace Software Market Explodes With A Frenzy Of InnovationVerdantix has released its Smart Innovators: Hybrid Workplace Software report, following a three-month research process. This Smart Innovators report covers over 50 software vendors and benchmarks each provider across 15 dimensions. The research process included product demonstrations and strategy briefings taken from vendors, to showcase how they have adapted or changed their offering in light of new customer requirements from the spread of hybrid working. What are the key takeaways for customers looking to invest in a hybrid workplace software solution?
Firstly, the new complexity of hybrid working has strained paper-based processes and legacy workplace software implementations. Customers now demand more comprehensive workflows for space access and permission rights, a greater number of integrations into their existing tech stacks, more interactive digital maps for occupants to engage with and more readily available information about office amenities to aid occupant decision making. All of this has created a need for existing software offerings to adapt and facilitated an opening in the market for new entrants to launch hybrid-first workplace management platforms.
The report defines the new category of hybrid workplace software, which is an evolution of previous software products aimed at optimizing space and workplace management process. Prior to the pandemic, space and workplace management software aimed to optimize office resource management processes, often by helping to monitor on-site occupancy and minimize workplace frictions such as ambiguous space usage etiquette, primarily leveraging around five functionalities. In 2022, the range of corporate processes that can be supported is much wider, including at least two of the following: agile, collaborative and remove work. Hybrid workplace software can include as many as 15 distinct functionalities to achieve these ends.
Thirdly, vendor heritages cut across categories including integrated workplace management systems (IWMS)/connected portfolio intelligence platforms (CPIP), workplace software specialists, space occupancy analytics specialists, workplace experience portals and apps, flex space specialists and hybrid-first start-ups. Verdantix research has previously highlighted how many different options buyers had to pick from in this busy, competitive market. This latest publication only goes to show how this will only continue to be the case. The entrenched role of hybrid working is opening up multiple opportunities for corporate real estate and facility managers to reimagine their processes and functional role in their businesses.
To learn more about this new, exciting market, including what standout software solutions offer to differentiate themselves from the rest, sign up for our upcoming webinar, taking place on Thursday 05 May 2022, Who Are The Smart Innovators In The Emerging Hybrid Workplace Software Market?