How Can Security Systems Maximize ROI?

Previously, security platforms were often seen as a cost center, without consideration for a return on investment (ROI). However, more and more organizations are turning to their physical security systems for insights that extend beyond enhancing security. They are using data from their systems to optimize operations and shape the entire enterprise providing an ROI through overall organizational improvements. The actionable insights offer advantages across multiple departments, facilities, marketing, maintenance, etc. In turn, this elevates security technology from a departmental cost to an enterprise-wide investment. Security departments are now active and central contributors to their organizations' digital transformation efforts and strategic planning. 

For many years, organizations have viewed physical security systems as a necessary business expense. The return on investment (ROI) has been challenging to determine, particularly when considering their role as deterrents, their use in providing evidence for potential prosecutions or asset recoveries, or in refuting fraudulent slip-and-fall claims, for example. Today's advanced cameras enhance the efficiency of security departments by automating responses and highlighting truly significant events. They not only ensure security but also provide insights into operational strengths and weaknesses, as well as customer interactions with in-store products offering invaluable data for sales and marketing strategies. The latest analytics enable AI-based security cameras to perform double duty by maintaining a watchful eye while simultaneously notifying staff of diminishing inventory levels all via edge-processing. For video physical security systems, it is perhaps time to think of these devices as smart sensors capable of harvesting valuable cross-department data as opposed to simply “cameras”. 

Security systems offer multiple avenues to boost ROI. By automating and integrating various functions, organizations can streamline operations. For instance, video-verified alarms substantially decrease false alarms, minimizing potential fees from law enforcement. Another strategy is to automate responses to events, such as initiating pre-programmed voice warnings or activating lights when loitering and other unwanted behavior is detected after hours. This proactive approach can deter theft, vandalism, or fraud without requiring human oversight. However, if an issue continues, it's vital for the system to have escalation protocols where trained professionals get involved. That next layer can be provided by virtual guard services, an economical yet effective method to combine video and audio surveillance with live voice-down capabilities ensuring comprehensive situational awareness of events on-site. Security cameras equipped with AI and analytics tools can also provide actionable insights into business operations. For retailers, this can mean tracking customer movements to optimize store layouts or monitoring inventory levels. 

Security systems can maximize return on investment when the camera system owner can be sure they will have the evidence they expect to have if a security incident occurs. This includes selecting the right partner to understand your location’s specific needs so they can select the right security cameras. It also includes creating a plan to monitor that the camera system is actually working; that all the cameras, NVRs, and servers are “live” on the network, recording, and that the view from each camera is clear and free of obstructions and that none of the views are tilted. A program like this offers peace of mind that the camera system is working and the evidence will be there when it is needed. 

Video Management Systems (VMS) offer more than just security; they can significantly enhance return on investment (ROI) when utilized fully. By extending the use of the VMS, organizations can minimize risk and liability, enable remote monitoring and management, ensure regular maintenance, and confirm regulatory compliance. These systems can provide video evidence in case of incidents, reducing legal and insurance expenses. In the post-COVID era, the blend of personnel and technology has been instrumental in cost reduction for VMS management and maintenance. Remote operation allows administrators to work from any location, thus cutting down travel expenses. Coupled with various analytics and technologies, a VMS helps identify necessary updates or component failures, saving service costs. Finally, a VMS can be used to ensure regulatory compliance, thereby avoiding potential fines or legal actions.

The entire concept of ROI is so much more than money savings (although that's a big part of the equation). mlt requires taking a holistic approach to establishing goals that align with business goals and objectives. To create value, security leaders must understand the target; what is their mission within the organization, and what should their focus be? With that clearly understood, they can more readily target areas of opportunity where investment can create an impactful return. Security leaders must take into account resources saved by streamlining processes, time spent context switching for operators within a security operations center, and how the security program is measured for effectiveness. As security leaders start to expand focus to include initiatives that improve the organizations's bottom line, security will begin to have more visibility within the organization, providing more value for other departments and stakeholders, and ultimately, gain additional budget in the process. The greater value security can bring toward achieving ROI, the better poised security leaders will be to have a seat at the table.