Operations & Opportunities Report: Best Ways to Cut Costs, Generate More Revenues
SSI‘s Operations & Opportunities Report highlights the most fertile technologies, services and markets for security dealers and integrators to sprout new business.
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While free-flowing communication is inherently an essential component of both interpersonal relationships and business success, in today’s world it has become a double-edged sword. We now have more means to send and receive communications and exponentially more information sources than ever before. As busy people juggling the demands of personal and work life, this ever-growing bombardment of “noise” is swelling to deafening levels, making it hard not to get overwhelmed. The tragic consequence is truly vital information can be missed – and opportunities lost.
As a security professional, there is no more critical information to pull from the din than SSI‘s annual Operations & Opportunities Report (OOR).
The OOR’s unique, original research pinpoints security integration, dealer and monitoring companies’ top money-making and cost-saving ideas, leading growth opportunities, and 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: reducing costs by handling more service calls remotely, dispatching more efficiently and minimizing inventory; increasing profits by cutting callbacks, improving collections and selling more to existing customers; generating more project-based revenues by pursuing the health-care, government and critical infrastructure markets, and concentrating on video surveillance and cloud-based solutions; and generating more recurring revenue via maintenance/service agreements, cloud-based services and managed/hosted access control.
One of the OOR’s most uplifting results this year is that company valuations have climbed significantly. On top of that, profit margins are up. Continue reading ahead for scores more of keen market intelligence – literally a wealth of data and analysis to help map out your year-end and 2017 plans. Then feel free to resume tuning out the information overload.
Check out this image gallery for results that shed light on reducing costs, increasing profits, as well as generating nonrecurring and recurring revenues. For the complete article and results, check out the August issue.
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