WeWork Continues Its Partnerships Strategy with New Booking Software

WeWork announced its new space management software, WeWork Workplace. Built in partnership with Yardi, the new software “provides companies with a universal platform that enables inventory management across office spaces, enhanced employee experiences and space optimization through insights and analytics.”

This is another in WeWork’s use of partnerships to expand its reach. Other companies working with the flex space provider have included Cushman & Wakefield, Upflex, and JLL. But those have been marketing and investment relationships. 

WeWork Workplace lets users book space across all a user’s own offices, WeWork’s spaces, or both. A mobile app provides interactive floor maps and team bookings. Other features include visitor management, company announcements, and calendar integration. Analytics show usage across all spaces—across all asset types—with trendlines over time. Companies can create user groups and spatial zones and then navigate capacity and overflow management.

“WeWork Workplace marries space, asset and people management capabilities, removing guesswork from designing a strategic work model by providing actionable data to inform decision making in real time,” the company explains. “As a result, the software aims to help employers reduce real estate costs, while empowering employees to more purposefully engage with the spaces they choose and create more meaningful physical connections.”

Scott Morey, WeWork’s president of technology and innovation, pointed to a combination of “our advantages in scale, speed and access to flexible spaces, with Yardi’s industry-leading software and tech capabilities.” 

That makes it sound as though Yardi might have provided a custom solution for WeWork, rather than technical joint development. Yardi offers bespoke development as well as “customizable solutions like mobile apps and websites for your properties.”

WeWork initially announced the Yardi partnership in April. “The partnership will merge Yardi’s industry-leading property management and enterprise resource planning software and tech capabilities with WeWork Workplace’s booking capabilities to create a universal platform designed to enable companies to optimize space across their portfolio and manage hybrid work models,” WeWork explained in its May earnings release.

Bringing in a technology partner for a custom offering is an interesting approach. Many corporations try to develop their own software rather than buying something commercially available. But running development teams is a business in itself and budget- and schedule-breaking results are common.

By working with Yardi, WeWork relies on a specialized developer of property management software that has likely experienced and overcome all the problems it would otherwise have faced on its own. That allows WeWork to focus on the actual management processes and activities.