We’ve come a long way since security was used solely to protect assets and keep unwanted visitors out. Today’s range of security solutions are smarter (thanks to advances in AI), faster (due to automation) and better (by adding value across an organization).
This presents an excellent opportunity for integrators to act as connectors across their customers, finding opportunities to leverage the data and insight delivered by security solutions for those in sales, marketing, operations, HR and building management — as well as security.
Extending the reach of systems beyond core security functions alone raises questions about return on investment, however. How can businesses monitor, understand, and improve their ROI when it comes to security solutions that serve the needs of a wide range of stakeholders? Mapping ROI to the impact of security solutions requires a few considerations, including cost to value, data analysis, and future use.
These are some of the top areas I advise clients to address if they want to gather a true picture of their security ROI, as it is increasingly used to support other organizational functions.
Understanding the Shift in Value
This requires a shift in mindset, from seeing security as a form of protection to a way of understanding more about building use or customer behavior, informing strategies, and making a business more efficient. In other words, there are so many returns that integrators can communicate beyond showing how a video surveillance system, for example, offers ‘high-definition images of potential events.’
Don’t misunderstand this sentiment. Security remains a primary function of a modern-day security system. High-quality images, a secure facility, and consolidated information for control rooms are still vital. Yet, suppose you can expand your return-on-investment discussions beyond security?
In that case, the chances are you’ll have deals close faster and bigger — drawing investment from multiple departments (and budgets) of an organization. This applies to upgrades to existing installations too, when renewal rolls around.
Technology is Changing the Way We Think of ROI
It’s now possible to gather detailed data insights through video and Internet of Things (IoT) sensors that can prove invaluable to marketing, sales, city or building planning departments, and more. AI helps to make sense of the data coming in from cameras, access control systems, sensors and other sources.
Even within security itself, advances in AI mean that cameras are becoming more accurate, reducing false alarms caused by triggers from wildlife or even wind. Operators can validate that an event is truly an emergency before liaising with law enforcement. Video can provide additional information, such as vehicle type or clothing color, to aid with responses and situational awareness.
The ROI associated with the system should therefore not only consider the cost of managing incidents, but the positive impact of personnel freed up to undertake other tasks, and the reduced impact of incidents on operations.
Get stakeholders on board early — and start with the business case
Getting stakeholders at the table early on in a prospecting discussion or when renewal comes up ensures they can see the value of a security system from the start. This might include representatives of departments such as HR, sales, marketing, operations, building management, and more.
Whatever their role, ultimately, everyone wants to be able to do their job more effectively and reach their goals. If your security system helps them achieve that, then investing in new video technology makes perfect sense. It can also help to justify the cost of a larger or more complex system.
AI and the cloud will continue to have a positive impact on the industry and integrators need to be aware of such developments to inform their value discussions. But don’t be tempted to focus solely on the technology available. Starting from your customers’ goals and building a business case based on this is your easiest route to stakeholder approval as it shows your interests and solutions are aligned clearly with their needs.
Think About Future Investments
Long-term, being mindful of your extended stakeholders will improve the buy-in for future investments. You can report back on success metrics that will interest finance, HR, compliance and other decision-makers.
These can include cost efficiencies, making sure high-risk areas have tightly controlled access, providing HR and legal teams with a clear paper trail for audits, improving offboarding (removing access credentials quickly), and informing store layouts based on the business of different routes. The more you can report true metrics, the more opportunity for the system to be used and expand.
Integrators don’t have to achieve all this alone. Partnering with a proactive manufacturer helps you communicate the full range of different benefits that security systems can provide. Speaking together to stakeholders allows you to put together a compelling business case with the right solution that delivers the optimum value for your customers.
Now is the Time to Talk ROI
Having these discussions throughout the year can help when renewal time comes up, but expect conversations to peak around year-end, too. This is when budgets are getting allocated for the coming year and it’s a prime opportunity to discuss the value that your solutions bring to every stakeholder. Because as the technology develops, demonstrating its value to a range of stakeholders beyond security alone will be key. Those integrators who start conversations with individuals across an organization will be the first to gain benefits.
