In the 1990s, business corporations of various types experienced changes that brought about a whole new perspective in managing businesses, redesigning business processes and introducing novel and innovative working practices. In the last decade, one of the major changes, pertains to the way in which an office space is acquired.
There developed a significant need for an office space that affords more flexibility due to the fast-paced sprouting of startup businesses. It was no longer feasible and practical to invest tens of thousands of money to lease or buy an office space, furnish, equip staff and maintain it. There emerged a need for a new type of property product - a serviced office.
Serviced Office Defined
The emergence of a new property, product or sub-market termed as serviced office is brought about by the evolving demands of businesses. A serviced office is a business space to be leased on a short-term basis. The serviced office space is available in varying sizes, has a flexible lease term and shared basic support services. Serviced offices are available from a basic floor space, unfurnished but maintained by the lessor, to a fully furnished and equipped office space. The image of a second-hand floor area housed in a dilapidated building in a remote portion outside of a CBD no longer applies. Serviced office providers now offer fully serviced offices located in prime buildings and strategic locations. Most serviced office providers offer an office work space, including amenities that are standard in a professional office environment.
Is It the Right Serviced Office Provider?
The business environment seems to be steeped with unpredictability in market acceptance of the product or service, sales, retention, and employees. Competition is high which in turn mandates companies to be more flexible to the demands of customers. The changing business environment is putting emphasis on teamwork and a less structured office hierarchy. This event necessitated the need for bigger working space and meeting rooms in different sizes and in various locations. Thus, it became more acceptable and practical to lease a fully-furnished serviced office on a short term basis.
There is now a myriad of serviced office providers in the Philippines. The most sought-after office in the country is around the Makati Central Business District. A start-up and small to medium scale corporations will only throw good money by renting, furnishing and equipping an expensive office space in Makati City. The best recourse is to lease a serviced office as it offers flexibility in terms of floor area lease terms, and is very cost-effective.
A fitting serviced office provider offers a fully furnished and equipped office space. The workspace must be housed in a first class building strategically located in the heart of the CBD. The office furniture and equipment must be first rate and suited to the requirements of the business.
IT and Communication infrastructure must be the fastest and the latest innovations. In this fast-track digital world, a 2-year old desktop with an internet connection of 1 MBPS is a setback. An IP phone must be supported by a global network. All calls are routed to a receptionist then to the proper personnel for the best call management.
Conference and meeting rooms should be large enough to accommodate all employees if need be. The reception area should be unbranded as it is most likely shared with other serviced offices. AV equipment should be included. Receptionist, secretaries and IT personnel should be included in the package.
An additional service bundle that includes facilities management and other administrative services is beneficial. Lease contract should be short-term and flexible to the business requirements. In case the lessee wants to change the floor area of the workspace and its lease term, there should not be any problem.
Service office providers have different packages to offer. There are providers that cater to engineering and architectural firms and there are serviced office providers that cater to publicists, graphic designers, lawyers and doctors. In your search for a serviced office provider, look for one that best supply your requirements.
In the Philippines, Servcorp is one of the top serviced office providers in the Makati CBD area with addresses in Tower One Ayala Triangle and 6750 Ayala Avenue. Initial setup is possible in 24 hours. Minimum contract is one month.