Finding and retaining qualified technicians is one of the industry’s top challenges. Business growth is good, but not having the right number of technical staff to meet increased demand creates many challenges for security professionals, such as: long delays for installations, poor service responses, less-than-ideal customer experiences, and a stressed staff.

Running your business as if you are selling it tomorrow is great advice, but what does it actually mean? Key performance indicators are metrics that should be tied directly to your organization’s overall financial health, mission, and objectives. These measurable indicators help you evaluate the effectiveness of your company’s strategy and operations, identify weaknesses — and they provide a clearer picture of how you’re performing against goals. They can also measure the customer’s journey, help you raise capital for acquisitions or provide guidance on valuation when you decide to sell.

The installation, transmission of signals, and servicing of electronic fire alarm systems are critical processes that are governed under the Authority Having Jurisdiction (AHJ) on a national, state, and local level. As codes, technology and practices transform, it is imperative that dealers and integrators keep up with these changes, avoiding loss of profit — and more importantly, loss of property or even life.

Doors are the access control’s window of opportunity for security dealers and integrators. As end users grow their physical sites, so do access control requirements, from additional credentials to securing new doors, driving top line revenues and bottom-line profits. Scalability, ease of operation, and cost effectiveness are important considerations to both integrator and end user alike. Most importantly, cloud-based access control systems provide a repeatable RMR generator.

Many employees are taking a new approach before committing to a new job. They would rather forgo the traditional workday for a more fluid schedule. Candidates will seek companies that promote work/life balance, allowing a flexible schedule that provides them with the ability to take care of personal responsibilities. Managers will need to shift their attention away from the clock and measure employee success by output.

The pandemic exposed many vulnerabilities, causing worldwide shortages and installation challenges for security companies. These equipment shortages caused revenues to be lower than anticipated — and major changes in the ordering and inventory processes. Whether there is a supply chain challenge or not, security companies need a proactive plan for ordering and inventory.

Mergers and acquisitions are inherently complicated. The easy part is signing on the dotted line, while extracting value is a far more complex question. Having a well-documented pre and post M&A plan will increase the success of the acquisition. Conversely, if there is no defined workflow that properly manages the process and expectations, failure will raise its ugly head.

Significant recurring revenue streams are generated from monitoring, inspections, and maintenance service contracts. With newer codes, updated technology, and cellular signal transmission, RMR gains even more traction as these new opportunities are adopted. 

Proptech (property technology) is taking multifamily (apartments/condos) to a new level. Proptech provides a more thoughtful future for building owners, managers, and residents. Essentially, it’s changing the customer experience as it relates to security, comfort, and convenience, while providing owners and managers with a more streamlined operation and hyper-personalized resident experience.