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In a competitive global economy, time, money and effort are the three important elements in a growing business. Serviced offices, which are flexible, cost-effective and convenient are the best alternative to traditional offices and provide a means to optimise all three elements according to the choice of the business.

Serviced offices are often regarded as a mainstream occupancy since they constitute a fast-rising component of commercial office space, growing at a global annual rate of 73%.

What is a service office?

Office space providers are responsible for the upkeep of the office space as well as the provision of a variety of business services such as reception and telephone answering services, secretarial assistance, conference and meeting rooms, high-speed internet connection, and so on. One of the products that they offer is a serviced office.

A serviced office is an inspiring option that gives businesses the flexibility they need to respond to rapidly changing market conditions. A serviced office is a fully equipped and furnished office space in a professional business setting that is available for immediate occupancy. The company’s brand identity is not compromised at all and the company’s employees can have a separate entry and exit within the coworking area. Serviced offices are commonly found in the commercial centres of major cities worldwide.

The fundamental distinction between serviced offices and traditional offices is how they are used. A serviced office lease is typically short-term and can last as little as one month; whereas a traditional office lasts for 3-5 years and includes initial capital for all the office equipment.

Benefits of Serviced Offices

Cost-Effective

The main advantage of using a serviced office is that it saves money. Savings of up to 75% on monthly expenditures can be gained by eliminating the initial set-up costs and hidden charges prevalent in traditional leases. Furthermore, amenities such as break-out spaces, conference rooms, and video conferencing systems are offered to enterprises at no additional cost, resulting in significant savings and lower upfront expenditures.

Flexibility

Another significant advantage of serviced offices over traditional offices is they are typically offered for one month to one year and have renewal agreements. Such a short-term lease agreement is beneficial in particular to start-ups usually with unstable cash flow, or even large-scale companies looking to expand and “test the waters” in new markets. Office space and layout can be customised, and office size is readily scalable, allowing businesses to upsize, and downsize to fit their latest business requirements.

Efficiency

Best-in-class amenities, such as the pantry, conference and meeting rooms, are available for use at the serviced office centre and are charged on a “pay-per-use” basis. It is significantly more efficient than owning the meeting room and office facilities which are only used for a few hours per week, yet corporations are charged with rents and utilities even if it is empty for most of the time as compared to typical office space.

A highly trained service crew is also on hand to provide all the essential office services needed to keep the business functioning, such as reception, IT assistance, secretarial support, cleaning, and security. Businesses not only save money on overhead, but they also save critical management time dealing with worker recruiting and retention concerns.

Reduced Risk

Businesses that use serviced offices are not required to keep the considerable amount of fixed assets involved with owning an office, allowing them to easily adjust the size of their office based on the rate of business development. With the serviced office provider centrally managing the IT infrastructure, telecommunications system, office equipment, and day-to-day administrative operations, all operational risks are significantly minimised. This kind of mobility might mean the difference between success and failure.

Increased Productivity

Now that you know your building operator will handle the cleaning, furnishing, and background work, you and your crew can devote all your attention to the new project you’re working on! Besides that, a vibrant and engaged community that encourages interpersonal interaction as much as hybrid work culture is most suited to a serviced office’s business needs.

Professional Business Assistance

Office facilities in a serviced office centre sometimes provide a plethora of professional business services that firms may arrange upon request. Company creation, accounting and tax advice, secretarial help, HR counselling, translation, travel arrangements, and other services may be provided. Companies may benefit from a fully supported workplace environment, which allows them to focus on what is important: developing their business.

In Conclusion:

You may hire a serviced office anywhere in the world to assist you to enter a local market with minimal risk. You won’t have to buy or rent a large office space, outfit it, pay for equipment, or set up Wi-Fi and cable. Alternatively, you may simply contact a reputable serviced office in the region, reserve a space for your employees, and have them move in the very next day for as long as your company requires.

As you can see, there are several undeniable advantages of hiring a serviced office in Bangalore. Get access to one! iKeva is a reliable workspace provider that offers serviced offices across three major cities, namely Hyderabad, Bangalore and Mumbai. Drop by any of our centers and book your space amidst a thriving community.