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