Office Hub, an Australia-based workspace marketplace company, has developed a new cloud-based technology called Abacus. It combines artificial intelligence (AI) and automation to allow tenants to bid and negotiate rental agreements with workspace firms.
The software allows operators to provide personalized rental quotes in about 8 minutes on average.
So far, Regus, WeWork, Servcorp and Hub Australia are some of the more prominent coworking companies to implement Abacus into their operations.
Flexible workspaces have readily adopted prop tech, but real estate agents have been slow to incorporate it into their services. The real estate industry is also largely untrusted by many due to a lack of transparency and openness during transactions. Abacus works to omit those concerns.
“The efficiency, transparency and cost-effectiveness of technologies that help you find flexible space make far more sense than employing a real estate agent and securing a commercial lease,” said Grant Philipp, CEO & Founder at Office Hub.