Bright Ideas: Security Company Managers Must Work Miracles
Grow the business! Generate more sales! Reduce attrition! Deliver better customer service! Raise employee morale! And do it all more cheaply and efficiently. That’s the tall order most security company managers face in today’s economy-challenged landscape. Fortunately, the Operations & Opportunities Report offers clues and shortcuts toward success, including which technologies, services and markets to target.
While the rank and file at installing security contracting businesses may justifiably gripe about recessionary hardships, it’s not likely they would find much peace of mind stepping into the shoes of those presently running and operating those companies. The fact is it has never been more challenging to successfully juggle the onslaught of demands and constraints security firm managers face today. Among other things, they have to maintain employee morale and customer service with fewer resources. That harsh reality but also several encouraging signs and guideposts toward brighter horizons are hallmarks of SSI’s fourth annual Operations & Opportunities Report (OOR).
This unique, original data identifies security integration and dealer companies’ top money-making and cost-saving ideas, leading growth opportunities, and surveys operational metrics. Nearly 250 executives, supervisors and managers from across the nation, representative of all sizes of companies, were asked a host of questions targeting not only the best ways to boost profits and reduce expenses, but also the implications of implementation. Further, respondents were asked to identify the most promising new technologies and service offerings, as well as the most viable vertical markets. Several financial and operational questions were also included.
Among the key changes from a year ago: profit margins are 8 percentage points below projections and down 4 points from a year ago; megapixel IP video is overwhelmingly the fastest growing revenue-generating technology area; commercial offices, health care and education are rising markets; cloud-based and residential services are tracking higher as recurring revenue opportunities; general business overhead is cited as an increasing drain on the bottom line; monitoring/RMR zipped to the top as the leading boost to the bottom line; and company owners are selling for higher multiples.
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