Business & Investment

MIDAS Sharing Tips: Invest in the WFH Revolution with SmartSpace

Until a little over a year ago, working from home was rarely seen. Less than 5% of employees do it on a regular basis, and there seems to be little chance of a fundamental change.

Within weeks of last year’s lockdown, nearly half of the UK workforce (tens of millions) moved from offices to bedrooms, kitchens, garden sheds, or, if lucky, a study.

At first, many people didn’t like it. Then they adapted. According to an independent survey, more than 80% of office workers now want to spend at least part of their week at home.

Space Savings: SmartSpace allows staff to book their desks online when they need to be in the office.

For many companies, this is good news. Hybrid working, as is well known, means that the number of employees in the office at one time is small. If done properly, companies should be able to achieve significant cost savings.

SmartSpace software It helps businesses adapt to this new lifestyle. With a share price of £ 1.45, the company is growing rapidly, and CEO Frank Beechnor has expressed ambition to raise the share price to £ 5 over the next few years, causing prices to rise sharply. Should do.

Beech Noll has a shape.As Chairman of Online Marketing Specialist dotDigital From 2011 to 2019, he oversaw the company’s value surge from £ 15m to over £ 300m. Recommended by Midas at 37p in 2015, DotDigital is gaining momentum and its share price is now £ 2.24.

Beechinor wants to do the same with SmartSpace.

Originally an audiovisual equipment business, the company has moved to a software company under the supervision of Beechnor, which specializes in three areas: desk management, meeting room reservations, and visitor check-in. did.

At the office reception, guests are checked in using their iPad. This is a more hygienic and efficient option than traditional visitor rosters.

In the desk management and meeting room departments, employees can use the phone app to book desks and rooms. Each department is making remarkable progress.

Visitor-managed subsidiaries are the most established and have approximately 5,000 customers worldwide, from small single-office businesses to multinationals such as DHL.

Business was good before the outbreak of Covid-19, but the pandemic gave it new momentum, adding 1,500 new accounts in March-June last year alone, and the number has grown steadily since then. I will.

There is also growing interest in desk managers as companies begin to evaluate how best to handle hybrid work.

Most companies are keen to retain or expand their workforce while reducing the space required.

In London, for example, all desks cost an average of £ 25,000 or more per year in terms of rent and related equipment, so reducing office space can save you a lot of money.

SmartSpace makes this relatively easy, allowing employees to book desks on specific days or times. When your desk is booked, it will appear red online as if you were booking a seat on the plane. Also, if no employee appears, the desk will turn green again.

Companies are working on this with enthusiasm, and some are more ruthless than others. For example, one major bank has an administrator’s office built into the system to prevent it from being idle when there are no spacious workstations around.

Over 80% of office workers want to spend at least part of their week at home.

Over 80% of office workers want to spend at least part of their week at home.

The service in the meeting room is just as efficient, and staff can book facilities from whiteboards to sandwiches online, as well as private rooms.

SmartSpace sells visitor management software directly to customers, but desk and meeting room services are provided through professional agencies, including Softcat. 30.

In December, Beechinor also partnered with the Swedish company Evoko. The group specializes in touch screen panels, with approximately 300,000 touch screen panels installed in conference rooms around the world.

Currently, they are proposing to use SmartSpace technology to upgrade their customers to new and improved panels. This allows companies and their employees to hold meetings, reserve desk space, and arrange to welcome visitors with a single system.

The early signs are encouraging and the deal with Evoko is expected to boost sales significantly over the next few years.

Analysts are optimistic about SmartSpace and predict that annual sales will increase by more than 50% to £ 7m by January 31, 2022, and then £ 10.5m in the next 12 months.

The group is currently in the red, but should turn into the black by the end of next year. After that, the profit will increase sharply.

Midas Verdict: For many companies, hybrid working is a way to move forward in the near future, not just in the coming months. SmartSpace makes switches simple and cost effective. For £ 1.45, the stock is a buy.

Account: Aim / Ticker: SMRT / Contact: smartspaceplc.com or 01638 510 900

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MIDAS Sharing Tips: Invest in the WFH Revolution with SmartSpace

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