Value for Money No. 1 Pain Point for Security Decision-Makers, Report Says
This and other results are part of Stanley Security’s 2020 trends report, which includes survey data from decision-makers across North America and Europe.
INDIANAPOLIS — Less than half (47%) of decision-makers in the United States said they would recommend their current security provider to a friend or colleague, according to a new survey commissioned by Stanley Security.
When asked when choosing a security provider what do they place their highest value on, the majority of decision-makers participating in the survey answered “response time.”
These and other results are part of the newly released “2020 Industry Trends Report,” which includes survey data from decision-makers across North America and Europe, plus monitoring data from more than 400,000 Stanley Security customers and insights from leaders across the organization.
Findings from the survey define the major trends that may impact security consumers in the coming year, according to the company.
“We’re entering a new era of security in 2020 — one that is defined by change, disruption and innovation,” states Matthew Kushner, president of Stanley Security. “This report offers a deeper look into the demands, expectations and pain points of security professionals, as well as the emerging trends that we expect will change the way businesses view and manage their security.”
New service models, Cloud technology, network security, machine learning and more are among the trends featured in the report. Among the findings in the survey are the top five pain points for security decision-makers and the top five factors they consider when choosing a security provider.
According to the report:
- Value for money is the number one pain point for security decision-makers
- 61% of national accounts subscribe to PIN management services. Businesses are becoming increasingly concerned about the accuracy and integrity of passcodes within their security operations and are asking their service providers to help identify employee interactions with their alarm systems.
- 15% of traditional alarm systems are audio- or video-verified and more businesses are seeking alarm verification solutions
- Alarm activity is increasing over time as it is becoming increasingly difficult for large retailers to make sense of alarm events (12% increase in alarm events from 2016-2019 among retail customers with more than 100 store locations). Therefore, new services are emerging to help retailers process this increase in alarm activity.
The report also cites the global industry average Net Promoter Score (NPS), a metric used to capture consumers’ overall satisfaction and perception of a brand.
According to the report, the global industry average NPS is 26%, with scores across 12 countries ranging from as low as 4% to as high as 47%. The scores are based on survey data from 480 security decision-makers at enterprise businesses — defined as businesses with more than 250 employees — across North America and Europe.
“The report also highlights one of the biggest challenges in the security industry: Across the globe, businesses are largely passive about their security providers,” Kushner explains. “As we move into this new era, we’re going to see more businesses treating security as a holistic solution, and one that aligns with their overall organizational strategy.”
A copy of the full report is available to download here. Registration is required.
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