Four panelists representing integrators, alarm companies, end users and industry strategists discussed the emergence of Web-based monitoring, the arrival of new business models and the impact of the down economy at the opening-day “State of the Industry” keynote at ISC West in Las Vegas.
“In this economy, our sector is doing well,” said panel member Richard Chace, CEO and executive director of the Security Industry Association (SIA). “That’s based on a lot of inventory refresh and spending by [governmental] agencies.”
A capacity crowd filled the Venetian Showroom at the Venetian Hotel for the 45-minute panel session moderated by Sandy Jones, president of Sandra Jones & Co., who introduced a range of compelling topics and issues affecting the industry.
Other panelists included Lynn Mattice, chairman, board of advisors, Security Executive Council; Bill Bozeman, president and CEO, PSA Security Network; and Ed Bonifas, vice president, Alarm Detection Systems, and president, Central Station Alarm Association (CSAA).
Jones led an enthralling discussion that ranged from big picture topics to specific business challenges for integrators and end users alike.
Bozeman admonished installing security contractors to embrace new managed services business models and not continue living “job to job.” Shrinking margins on equipment sales should push companies to seek out new recurring revenue such as managed access control and video monitoring, he said.
Broader economic indicators also continue to influence the industry outlook, which will cast central stations in an important role providing “virtual” services, Bonifas said.
End users were represented by Mattice, who urged integrators to understand their unique needs, provide guidance on meeting regulatory requirements, and offer a business plan showing return on investment (ROI).
Panelists said the industry will face a tougher road ahead as it adjusts to a jobless recovery that has brought a “new world of security.”