What does it take for a security business to grow in today’s environment of increased competition and staffing shortages? Brivo gets a lot of questions from security integrators about how to build a successful security business.
Most integrators have gotten the message that product and installation revenues alone are not sufficient to support a healthy organization in the long term. It’s also clear that the value of your business can be exponentially increased if you derive significant revenue from recurring sources. As a result, many integrators are searching for avenues to increase RMR.
While many security dealers on the SDM 100 Report describe 2018 as an “average” year, the numbers show 5 percent growth in RMR and some peculiar market forces at work that may be shifting generalist dealers to become specialists.
PSA TEC had plenty of advice to offer security integrators on how to set up their business for managed services success. Here are some of the best tips and tricks gleaned from the various seminars on the topic.
‘Tis the season for many retailers to start seeing a spike in profits — why should your company be any different? Whether you’re in the red or safely in the black, who doesn’t want to think about adding to their bottom line? Here are a few ways you can get a jumpstart on earnings and maybe even begin the new year with some new profit-adding tactics.
Attrition is the measurement of customer dissatisfaction, which, for the most part, is company-caused. However, some attrition of recurring monthly revenue (RMR) in recent years can be related to the effects of the recession on the security channel. Overall, in 2011 — the latest year for which data are available in the annual Attrition Measurement Study — the industry experienced mixed results depending on the size of a company and its location.
In past years, the end of a calendar year signaled “acquisitions season.” As the year ends and companies endeavor to take advantage of much needed tax breaks, the industry typically is flooded with news of mergers and acquisitions (M&A). In recent recession years, this seemed an indication of the security industry’s resilience and ability to thrive while other industries faltered. However, 2011 seemed quieter than others and we set out to find out why, while the industry continues to do well, merger and acquisition activity is down.
As the cover asserts,security systems integration work is in demand from all corners of the market, giving 2019 Top Systems Integrators boundless opportunities in traditional systems as well as on fast-growing hosted/managed security solutions.
Also in June, insight on how to choose a thermal camera, "Rethinking Keypads for Better Access Control", and much more.