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Study Offers More ‘Bright Ideas’ to Raise Profits and Slash Costs

Read the bonus material from SSI's annual Operations & Opportunities Report (OOR).

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August’s Bright Ideas Issue of SSI includes the annual Operations & Opportunities Report (OOR). This original research identifies the most promising security technologies, service offerings and vertical markets, as well as the best ways to reduce costs and boost profits, among other data. Many of the questions asked included an “other” option in which respondents could write in the answer. Since not all of that could be included in print, here now are some bonus “Bright Ideas” to fathom:

If you had to identify a primary way to reduce costs in your business, what would it be?

  • Cut health-care premium support  Reduce health-care expenses and insurance costs 
  • Paperless offices 
  • Provide new electronic security equipment to allow staff to multitask 
  • Drive more higher-margin sales 
  • Improve sales training and internal policies procedures to reduce paperwork 
  • Reduce middle management

If you had to identify a primary way to increase profits in your business, what would it be?

  • Great customer service will be returned a hundredfold 
  • Cold calling and following up on the building permits 
  • Improving process control across the board 
  • Streamline internally for smoother operations 
  • Deliver higher value-add services and solutions 

If you had to identify one type of technology to generate more nonrecurring revenues, what would it be?

  • IP video analytics 
  • e-learning products 
  • Special hazard systems 
  • Electrical systems 
  • Cellphone monitoring and blocking 
  • PSIM [physical security information management] 
  • Standalone access control 
  • Distributed antenna systems 

What is the single greatest drain on your company’s bottom line?

  • Conflict resolution terms and conditions 
  • Equipment costs 
  • Creation cost for a new customer 
  • Poor use of internal resources

What is the single greatest boost to your company’s bottom line?

  • High-profile incidents such as school shootings 

In what ways are security contractors leaving “money on the table?”

  • Low-bidding projects 
  • Not providing great customer service 
  • Misunderstanding the selling situation and not getting higher prices when the opportunity presents itself 
  • Cost to replace faulty equipment

Scott Goldfine

Article Topics
Vertical Markets · General Industry · Installation and Service · Management · Physical-IT Security Convergence · Blogs · Business · Installation · Management · operations · Research · Sales · 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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