How Security Companies Can Cut Costs Without Sacrificing Quality

How to Save on Operational Costs While Maintaining High-Level Security Standards

For security companies, providing top-tier services while controlling costs can be a tough balancing act. Rising operational expenses, client demands, and the competitive landscape all challenge security firms to offer efficient, effective solutions without breaking the bank. In this post, we explore strategies to reduce operational costs while maintaining or even improving the level of service. We’ll also discuss how adding live video monitoring to your service offerings can boost your recurring monthly revenue (RMR).

1. Consider Remote Monitoring as a Complement to On-Site Guards

Many security firms rely heavily on physical security guards to protect sites. However, augmenting guard services with remote live monitoring can provide enhanced coverage while reducing labor expenses. For example, a full-time security guard in Canada can cost between $15 and $20 per hour (about?$2,600-$3,500 per month per guard). In contrast, a live monitoring service typically costs around?$1,000-$2,500 per month for 24/7 coverage. By combining guard services with live monitoring, you can decrease the number of on-site guards needed and still maintain comprehensive security.

Example Calculation: If a company employs five guards at $3,000 each per month, the total monthly expense is $15,000. Reducing this to two guards and adding live monitoring for $2,000 results in a new total of $8,000, saving?$7,000?monthly.

2. Prevent Costly False Alarms

False alarms lead to wasted resources, including emergency response fees and potential fines. In Canada, false alarm response fees can range from $50 to $500 per incident, depending on the municipality. By utilizing video verification services, companies can verify the legitimacy of alarms before dispatching authorities, reducing unnecessary emergency response costs.

3. Scale Services Based on Client Risk Levels

Security requirements can vary significantly depending on the type of site and its risk level. By offering flexible security packages tailored to the client’s needs, companies can optimize resource deployment and manage costs more effectively. For instance, a low-risk site may require remote monitoring during off-hours only, while a high-risk site may benefit from a hybrid approach combining live monitoring and scheduled Virtual Guard Tours.

4. Partner with a Specialized Monitoring Provider to Expand Service Offerings

Partnering with a company like SafeWatch allows security firms to add live monitoring services without investing in the necessary infrastructure and personnel. SafeWatch’s Channel Partnership Program enables firms to seamlessly integrate services like live video monitoring, Alarm Video Verification, Remote Concierge, and Virtual Guard Tours. The partnership can boost RMR by offering new services that clients are willing to pay for.

Example Cost-Savings:

Without a partnership, setting up a 24/7 monitoring station could cost over $200,000 in initial setup and licensing fees, plus $50,000-$100,000 in annual staff wages. By partnering with a company like SafeWatch, security firms can avoid these costs while offering clients the same advanced services.

5. Use Technology to Proactively Deter Crime

Advanced monitoring technology allows for real-time detection of suspicious behavior, enabling early intervention. For example, combining live video monitoring with perimeter detection can reduce the need for emergency guard call-outs, which can cost $100-$200 per incident. Additionally, proactive crime deterrence minimizes the potential for costly damages, thefts, and business disruptions.

Real-World Impact of Adding Live Monitoring to Your Service Offerings

Here’s an example of how a security firm can save by incorporating live monitoring into its service lineup:

Current Setup:

• Number of Guards:?5 guards
• Cost per Guard per Month:?$2,600 – $3,500?(based on $15 – $20 per hour)
• Total Monthly Guard Cost:?$13,000 – $17,500

With Live Monitoring Added:

• Number of Guards:?2 guards
• Live Monitoring Cost per Month:?$1,000 – $2,500
• Total Monthly Cost:?$7,200 – $12,500?(including guards and monitoring)

Monthly Savings:

• Savings:?Up to?$10,300 – $10,300?per month, depending on the costs of guards and monitoring services.

In addition to cost savings, the firm can earn extra RMR (recurring monthly revenue)? by selling the monitoring services to clients, creating a new revenue stream while enhancing security.

Managing costs while delivering high-quality security services is achievable with the right strategies. Remote monitoring, proactive crime deterrence, and flexible service models can all help security companies meet their financial and operational objectives. Partnering with specialized providers like SafeWatch ensures you stay competitive in the industry while enhancing your service offerings.

For more information about our Channel Partnership Program,?contact us?today!

Ready to Make the Switch?

Adding live monitoring to your portfolio isn’t just about cutting costs; it’s about providing a more effective, reliable, and proactive security solution. If you’re interested in expanding your service offerings and boosting RMR while keeping costs down, SafeWatch’s Channel Partnership Program can help you achieve these goals.

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