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Is disruption coming to the security industry?
Yes. In short, the costs are growing faster than the value.
This imbalance creates a pressurized bubble where traditional players differentiate by price rather than value or innovation. It turns into a hamster wheel of sorts, with companies cutting costs in a rat race to bottom-of-the-barrel price points.
How does automation fit into all of this?
Automation is a triple threat. Automated security solutions are bubbling to the top of the market and are cheaper, smarter, and better than traditional technology.
Cost + Performance + Value = Differentiation
The clearest benefit to automation is reduced cost. Labor and liability costs have risen significantly over the past several decades, which contributes to the rising cost of security services.
Security is a labor-intensive industry. For most security businesses, payroll accounts for nearly 70% of costs. Automated patrols and monitoring can cut costs by more than half.
Automation tools streamline monotonous duties (patrols, access control, camera monitoring, etc.) while allowing their human counterparts to focus on risk management strategy, first response, and event management.
What sort of patrol automation technology is out there?
Dividing tasks between people and machines based on competitive advantage makes for a faster response times, stronger event management, better strategies and implementation.
While there is a valid argument that automation will take thousands of jobs away, this also marks an important point in our society's history. Technology is able to work for us.
Essentially, machines augment tasks that are known to have a high attrition rate; which leaves room for humans to do what machines cannot: strategize, create, and connect with other humans.
Better performance at a lower cost begets value. Creating value for all stakeholders (not just customers) is critical for any business's longevity.
Incorporating new technology into a traditional industry isn't a small task, but the rewards are apparent.
Customers benefit from cost savings and improved performance. Workers benefit from technology that is conducive to productivity. Decision makers benefit from lower employee turnover, engaged team members, and happy customers.
The demographics of [operators] are also changing... there’s a new wave of younger, tech-savvy operators now sitting beside them. Whether Gen-Xers or Millennials, these operators have essentially grown up with technology in the palms of their hands... Their biggest challenge often stems from the frustration of working with what they might perceive to be outdated technology.
Organizations are taking a closer look at how more automated solutions can help streamline workflows, reduce operator fatigue and keep younger operators engaged and motivated.
What it all boils down to: Differentiation
It's not enough for security providers to offer the lowest price. Customers want to see innovation, attention to detail, and personalized solutions. Automation technology delivers exceptional experiences for customers, team members, and decision makers.
Firms with a triple threat (cost, performance, and value) will stand the test of time. Automated technology is here, and it's just getting started.