WeWork to partner with Yardy Systems to develop tools for managing companies

WeWork is trying to strengthen its technology credentials with a new software product that it hopes to sell to employers.

The co-working company will partner with real estate software maker Yardy Systems to develop the WeWork workplace, a tool that allows companies to manage the way their employees and their office space are managed by WeWork. The software, which can be used for tasks such as conference room booking, adjusting flexible desk usage with hybrid staff, and analyzing which spaces are most used, is set to launch this summer, the company plans to announce on Wednesday.

Yardy’s existing equipment assists landlords and asset managers in overseeing their property activities and finances. WeWork’s core business is renting desks and offices, but the company has worked to expand beyond that in recent years – although its co-founder and former CEO, Adam Newman, who oversees WeWork, is not far from his confusing choice. . Expansion of an elementary school and residential co-existence.

Newman introduced WeWork to investors as a technology company, emphasizing the acquisition of conference-room booking software, a digital marketing company and a product that uses smartphone data to track how a team of employees flows across an office. Following WeWork’s failed attempt at an initial public offering in 2019, some of these side businesses were sold to reduce costs.

WeWork has succeeded in its second attempt to reach out to the public. When it ended under current CEO Sandeep Mathrani, WeWork told investors that it was building a three-part business model: renting office space, providing on-demand options such as renting a desk for a day and selling a newly created software service. WeWork Workplace.

The idea is that even employers who do not rent space from WeWork may choose to pay for its software tools, especially given the more complex logistics of a workforce that wants to spend office and other days at home. In January, WeWork stated that its first customer for the product was the pharmaceutical company Organon & Co., which had already leased dozens of locations with WeWork.

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