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How to Manage your Security Budget as we Face an Unsecured Future

Most CFOs and corporate CEOs are taking a close look at their security spending at this time.

While bottom line profits and expenses fluctuate under lockdowns and Covid-strained economies, security spending has become an imperative as new threats and criminal tactics arise.

When facing companywide budget cuts, security expenses should be considered an indispensable factor for the longevity of your business, however this does not mean security services can’t get a necessary overhaul and some planned infrastructural updates to offer a better return on your investment.

Most businesses and residential owners understand how important it is to maintain a safe physical environment and the benefits of managing staff activities to reduce the risk of personal injury and property loss.

Understanding how to adjust security protocols under the current social and economic constraints, however, is just as imperative. Outdated security systems, poor service, and a lack of insight into future risk scenarios can dramatically affect the security of your business and your people.

“The visitor book and pen must go,” says Premier Security’s Sales Manager Jamie Bell, “the new normal in perimeter and access security protection is paperless and contactless. Our Identiscan handheld device is a seamless security check by guarding staff which includes a series of Covid-safety questions for arriving visitors to a business or residential estate.

“There is also inputs for temperature as the device has a thermometer and simultaneously scans the temperature of arriving visitors. The Identiscan device is a constantly evolving ‘no touch interaction’ scanner and as our newest product online comes with new levels of efficiency being introduced all the time.”

While we are seeing some sectors seeing a dramatic increase in the need for new security protocols especially the healthcare, retail and transportation industries, other industries are seeing the need to divert security protocols away from traditional areas and swivel to new areas of industry and ways of operating.

Use our 12 steps in risk analysis check points below to assess the best way to manage your security budget into 2021.

12 Steps in Risk Analysis

1 Examine your return on investment of your current security spend and collaborate with Premier Security management on how this can be reorganised for a better and more streamlined return.

2 Consider shaving costs by leaning down or eliminating security personnel hours or outdated equipment which can be replaced with 24/7 advanced technology security services.

3 Analyse costly security incidents of the past which could have been better planned – this could mean increasing responsive security management and data collection systems for more accurate reporting.

4 Consider how your security budget could benefit from live monitoring and secure data management in the long term.

5 Establish new 2020 security goals and document the assets you need to protect most within the current environmental circumstances. This means having a new perspective when considering how your security goals can be best managed, protected and serviced.

6 Identify the different income and expenses related to these services and how they can be streamlined and integrated with the latest guarding protocols and security management tech strategies.

7 Consider the costs of planned purchases or replacement strategies and consider the additional costs of supporting and training new staff and updating systems

9 When designing a new security budget, consider additional protocols such as data protection and regulatory compliance. Your security budget should not only focus on prevention strategies but also strategies for boosting revenue and gaining new business through enhanced productivity or greater trust, protection, and security integrity for your customers using your products and services.

10 Commit to hiring only the most effective security management services which hire and train professionally trained staff and use the most effective tech solutions available

11 Ask for documentation that analyses how much time and manpower is being dedicated to each security service and how inefficiencies can be eliminated or replaced. This might mean asking your security management team how you can better handle seasonal expenses and high and low annual trading fluctuations.

12 Invest time in researching the most effective security strategy which balances the need for man (security staff) or machine (latest tech strategies). This could mean investing more time in training your staff in security awareness and rewarding employees who demonstrate compliance and the timeous reporting of incidents.

Always keep top of mind that your end goal is to reduce your exposure to risk. This means being vigilant about new and evolving threats as we move into 2021. Through awareness and regular upgrading of your security systems and procedures you are better armed to counteract and prevent them. Part of your risk analysis and security strategy must include relevant procedures that keep you connected to current trends through training and software and hardware upgrades.

Keep up to date with the future of your security needs with Premier Security. Call for an adjusted quote now

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