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Amazing Data to Keep Your Security Business on Track

Discover the solutions, services and markets your company should zero in on courtesy of SSI’s 2014 Operations & Opportunities Report.

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Whether it’s prospecting and serving customers, reducing truck rolls, or increasing margins, installing and monitoring security systems companies are evermore dialed in to maximizing efficiencies as a mandated path to realizing higher profitability. There’s a rainbow and pot of gold at the end of that road but the trip is riddled with challenging potholes. They include customer retention, finding qualified salespeople and technicians, intensified competitive pressures, compliance requirements, rising costs of doing business, and adapting to and developing effective pricing models for a whirlwind of technological advancement. Like a highly sophisticated GPS navigation tool, SSI’s sixth annual Operations & Opportunities Report (OOR) reveals crucial data points to successfully navigate this potentially treacherous terrain.

This unique, original research pinpoints security integration, dealer and monitoring companies’ top money-making and cost-saving ideas, leading growth opportunities, and surveys operational metrics. Nearly 300 executives, supervisors and managers from across the United States and Canada, representative of all sizes of operators, were queried about a wide range of topics aimed to not only ascertain how to most effectively grow profits and cut costs, but also the specifics of implementation. Respondents were additionally asked to identify new technologies and services with the strongest upside potential, as well as the most thriving vertical markets. Several financial and operational questions were also posed.

Some of the most compelling findings include: video surveillance is associated with the top three project-based revenue sources; health care, government, education and retail are vertical markets on the move; managed/hosted access control, PERS, interactive services and managed network security services are growing recurring revenue areas; not selling maintenance & service contracts or charging enough for services is costing contractors money; pursuing customer satisfaction is perhaps at an all-time high; and it’s a sellers’ market as company stakeholders expect higher multiples to sell their businesses.

Check out our slideshow for so much more — literally a wealth of data and analysis. Note all changes from the prior year are referred to as percentage points rather than percent as the latter would actually be a larger figure because it would reflect the percentage of change rather than purely points. Also, especially significant shifts are highlighted in bold face type. Use the OOR to gauge if your business is on the right course to close out this year or get a jump on 2015.

Article Topics
Business Management · Research · Media · Slideshow · Operations & Opportunities Report OOR · All Topics

About the Author
Scott Goldfine
Scott joined SECURITY SALES & INTEGRATION in October 1998 and has distinguished himself by producing award-winning, exemplary work. His editorial achievements have included blockbuster articles featuring major industry executives, such as Tyco Electronic Products Group Managing Director Gerry Head; Protection One President/CEO Richard Ginsburg; former Brink’s Home Security President/CEO Peter Michel; GE Interlogix President/CEO Ken Boyda; Bosch Security Systems President/CEO Peter Ribinski; and former SecurityLink President/CEO Jim Covert. Scott, who is an NTS Certified alarm technician, has become a respected and in-demand speaker at security industry events, including presentations at the Central Station Alarm Association (CSAA) Annual Meeting; California Alarm Association (CAA) Summer and Winter Conferences; PSA Security Network Conference; International Security Conference and Exhibition (ISC); and Security Industry Association (SIA) Forum. Scott often acts as an ambassador to mainstream media and is a participant in several industry associations. His previous experience as a cable-TV technician/installer and running his own audio company -- along with a lifelong fascination with electronics and computers -- prepared Scott well for his current position. Since graduating in 1986 with honors from California State University, Northridge with a degree in Radio-Television- Film, his professional endeavors have encompassed magazines, radio, TV, film, records, teletext, books, the Internet and more. In 2005, Scott captured the prestigious Western Publisher Maggie Award for Best Interview/Profile Trade for "9/11 Hero Tells Tale of Loses, Lessons," his October 2004 interview with former FDNY Commander Richard Picciotto, the last man to escape the Ground Zero destruction alive.
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