Welcome to our first State of Sync!
Initially, we planned on writing an annual stakeholder memo to highlight how fast CRE tech and solutions are becoming adopted, integrated, and kept in sync.
However, an annual memo would make it hard to share just how fast things are changing.
So we’ve decided to start with making these stakeholder memos quarterly, and then take it from there.
Below we look into some numbers and updates from across the syncing infrastructure and ecosystem being leveraged by data-driven CRE professions, platforms, and operators to improve their flex space yields and competitiveness.
Ecosystem Syncing Activity.
Let’s start with some internal numbers.
We recently announced surpassing 2 million sync events. This quarter saw the total number of sync events surpass 4 million.
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The number of times data was processed and synced across the ecosystem continues to grow, with over 300k more sync events processed in Q2 than in the last quarter.
This also represents a 1,526% increase in the number of events per quarter when compared to Q3 last year.
The continued growth in this area is even more interesting when evaluated against the backdrop of the system-wide platform optimizations implemented this quarter.
By optimizing the system to improve the speed and scalability of real-time syncing for multi-location operators, we actually lowered the average number of sync events per location over time (see Platform Updates below for more info on this).
Looking forward, we’ll continue optimizing but do still expect the number of sync events to continue to grow as more spaces and integrations are welcomed into the Syncaroo ecosystem.
Background Trend: Shift towards modular stacks.
Across the global office CRE sector (a $3.2T market in the US alone) the rate at which modular proptech is being adopted is skyrocketing.
As innovation (and investments) pour into solutions for specific challenges, many industry professionals are seeking out the best tool(s) for specific day-to-day challenges that their office space(s) or portfolio face.
This shift away from purely-monolithic solutions continues to drive up demand for seamless integrations across operating stacks for office-providing businesses of all sizes.
How do we know? Talking about connecting systems (and what’s working and what is not) is the agenda for a LOT of our calls and meetings are about each month.
Office operators want time-saving integrations to improve both yields and their member experience. Landlords and office portfolio managers (still) want better integrations and data efficiencies across their chosen tech. And proptech companies want to be included in as many modular tech stacks as possible by being quickly and easily connected with an ever-growing list of other platforms and services.
Adding, testing, and improving integrations between platforms continued to be a major focus for this quarter.
Web3-enabled Flow has completed QA testing of their integration and are launching their live-data syncing into the Private Beta this week.
This is the first example of data flowing between two platforms on the marketing layer of the Ops Stack to give operators a whole new toolset for building creative auto-updating websites or externally-hosted partnership pages.
Our WordPress plugins are also being upgraded to bring the latest Syncaroo functionality to workspaces, alliances, and others running on the open-source platform powering 43.2% of all websites.
On the topic of Coworking Alliances, keep an eye out for announcements about local pilot campaigns with these community-connecting organizations.
During the quarter we’ve also met, discussed, scoped, or started developing integrations with 18+ new platforms across the US, UK, Europe, LATAM, and APAC that we are looking forward to sharing more info about on our Integrations & Automations roadmap soon.
A growing number of requests for integrations were received directly from operators, as well as from platforms quoting that their partner spaces “want to connect with Syncaroo”.
We appreciate this continued and increasingly-vocal support from both our early customers and integration partners.
This quarter we introduced the first version of our Sign Up With Syncaroo buttons into the private beta. This functionality helps busy workspace operators by making it over 12x faster to evaluate, register, and populate listings on new platforms.
By helping operators very quickly find, pick, setup, and sync with new platforms, they may grow their reach and revenues with no or very negligible additional overheard per listing.
Not only does this improve the sustainability of flex and other flex-like office offerings, but also greatly reduces the chance of data becoming outdated and a whole series of negative booking experiences.
Learn about the platform.
A summary of the terms & conditions.
A summary of the fees of participating or using this platform.
Who uses this platform, and how/why.
Where is this platform seeing high or growing utilization?
Over the coming quarters, you can expect to see more Syncaroo-connected platforms leveraging these buttons, as well as a prettier interface alongside some other under-the-hood enhancements as we invest heavily in making it even easier for workspace operators to discover and engage with new opportunities, platforms, and teams.
A lot of focus has gone into better supporting the developers building on and integrating with, our data-syncing infrastructure.
As mentioned, our powerful Sign up with Syncaroo button and related API was introduced and made available to both integrated and integrating platforms. These little buttons revolutionize how busy operators can assess, sign up, and auto-populate listings in just a few clicks.
Our developer documentation for marketplaces and booking platforms was touched up, with updates made to our developer tools to aid with testing during the development and QA phases.
Moving forward you’ll see even more love being poured into our documentation, developer support, and the Sign Up with Syncaroo user experience.
At the core of Syncaroo is our own proprietary syncing platform, which was also optimized and upgraded this quarter.
During the quarter the platform received a tonne of optimizations to improve scalability and reduce the number of sync events without adversely affecting any real-time synchronizations.
These changes delivered the biggest boost to syncing speed for operators with 8+ locations, however, the scalability upgrade does benefit workspace operators of all sizes.
Improvements were also made to our language-learning algorithm as we continue to onboard and support more spaces based outside of English-speaking markets.
Our own registration and activation flow received a lot of love from our development team, enhancing the usability for first-timers and returning Syncaroo customers.
Keep an eye out for the streamlined control panel of exactly what resources each connected platform can see, sync and book.
So there you have it, our first-ever quarterly stakeholder review.
Thanks for reading along, integrating, supporting and/or leveraging Syncaroo to improve your business processes.
Got questions? Interested in getting involved with how Syncaroo is implementing global data-syncing infrastructure for the CRE industry? Reach out here and let’s chat.