Technology adoption has soared to new levels since 2020. A year that forced companies to do more business online. With many office workers switching to remote working, they needed access to everything from their home office. Companies that may or may not have previously conducted business online, had no choice but to do more business digitally.
For example, many people shopped at the brick-and-mortar stores prior to 2020. After the pandemic hit, they started ordering more online and taking fewer trips to the store. Automotive dealerships also had to pivot. While many post their inventory online, they had to find creative approaches for selling vehicles. A few dealerships offered home delivery, or their employees would drive to the customers’ homes for test drives.
The Growth Remote Video Surveillance
With fewer people working on commercial properties, current clients asked for more remote video surveillance. At the same time, an influx of first-time video surveillance customers added security cameras. It’s a smart move considering vacant commercial properties are at risk for crimes. These companies wanted to ensure their empty properties and all of their assets remained safe.
Some businesses limited the number of employees on site. Adding or increasing security cameras helped ensure these employees stayed safe. A few companies wanted to reduce or eliminate security guards to minimize the number of people on the commercial property.
The construction industry is the most unique vertical for video surveillance. They need a solution that’s flexible and scalable. Construction sites are continuously changing. Sometimes they don’t have a hardwired or strong internet connection especially those in remote locations. They may experience problems with power. Fortunately, there are video surveillance solutions that can work with these challenging conditions.
One such mobile surveillance security solution can be mounted on almost any flat surface or pole. It can also work on the roof of a site management trailer. This system can be deployed quickly.
Companies realize that remote video surveillance helps reduce risk. Previously, they’d use video surveillance for off-hours monitoring when no one is on the property. Now, they’re switching to 24/7 monitoring as they discover video surveillance can study patterns to optimize resources. Many companies are dealing with a staffing shortage. Remote video surveillance closes that gap while helping marketing, logistics, and operations.
Remote video surveillance can do a lot more than act as a proactive security tool. Here are five benefits that help ensure a fast return on security investment
(ROSI).
1. Helps Deter Crime
Regardless of industry, every business needs to be concerned about crime. Apartment property managers, for instance, have a responsibility to take reasonable steps to protect their residents. It may also be required by law depending on the state.
Here’s one example. California’s Ann M. v Pacific Plaza Shopping Center, 6 Cal. 4th 666 says that a landlord “owes a duty of care to its tenants to take reasonable steps to secure the common areas under its control.” Moreover, property managers must do occasional inspections of their apartment property for potentially unsafe conditions and remedy them.
Residential buildings and most commercial real estate properties also deal with car theft and burglary. One San Antonio property experienced 25 incidents of car vandalism in six months and 20 smash-and-grabs in one night!
Construction sites are at high risk for the theft of heavy equipment, HVAC, copper, cargo, and more. According to the National Equipment Register, equipment theft costs between $300 million to $1 billion. This estimate doesn’t include theft of building materials or tools, or damage to premises or equipment during a theft.
Retail is affected especially with 92 percent reporting they have been victims of organized retail crime (ORC). It costs retailers $777k for every $1 billion of sales. Not only that, the National Retail Federation’s Organized Retail Crime (ORC) study reveals that inventory shrinkage has reached an all-time high.
Fraud is a problem that affects both in-store and online sales. More than one-quarter of fraud occurs in online-only sales and almost 20 percent occurs in multichannel sales. Because of this, recording video surveillance is one of the top five loss prevention systems used in retail. The year 2020 has seen a four-point increase from 2019.
2. Helps Prevent Internal Theft
Commercial properties, apartment buildings, and shopping centers face different challenges. Yet they all have one thing in common: employee theft and internal threats. It’s not just the employees stealing. Security guards are also involved in some of the internal thefts.
An eye-opening Hiscox study mentioned on CNBC reports employee theft costs an average of $1.13 million for U.S. businesses. The FBI reports thieves have stolen more than $450 million worth of office equipment with a recovery rate of only a scant 5 percent.
Internal theft is a growing problem because employees and security guards know things about the security system. They know where everything is located and its weakest points. It’s not that your employees aren’t good people. Desperation can force them to steal to help put food on the table when they’re struggling financially.
Desperate times call for desperate measures. They think the best option to get what they need and get away with it is by stealing from their workplace.
The U.S. Chamber of Commerce finds that 75 percent of employees have stolen from their company at least once as mentioned in a Forbes story. Kroll’s global fraud and risk report states more than 80 percent of executives say they’ve had at least one incidence of fraud. In more than half of the fraud cases, the perpetrators turn out to be employees, former employees, and third parties like security guards.
Remote video surveillance helps solve this problem. A trained monitoring operator watches the cameras in an off-site facility in another city or state. The advantage of this is that they’re not likely to be an internal threat like security guards.
The sad truth is that companies need to keep an eye on everyone including employees. Adding video cameras doesn’t mean you don’t trust your employees. Rather, reframe it by telling your employees that the cameras will help prevent external theft and improve productivity. When outsiders and employees see the cameras, they’re less likely to steal.
3. Helps Decrease Liability
Just because your business has liability insurance doesn’t mean you don’t have to worry about it. The insurance company may not approve of your claim. Even when they do, you may not receive payment for a long time. Every day you wait on the payment is another day that negatively affects your business as you need the money for repairs or a replacement.
Property managers have a responsibility to keep the property safe for everyone including visitors, vendors, residents, and employees. Any accidents or injuries that happen on your property can become a liability. Someone doing something illegal on your property can successfully win a liability claim.
Falls and other preventable injuries cost companies and the government $696 billion every year as reported by the National Safety Council. This shows the importance of taking steps to limit liability.
Video surveillance help decrease liability. For one, it records everything the cameras see to give you the proof you need to show your property did what you were supposed to do. The recordings will help with liability claims.
Some companies have seen the price drop on their insurance premiums. Using a video surveillance system helps reduce the risk of your company becoming a victim of a crime or liability claim. This can lower premiums.
4. Helps Improve Processes
Video surveillance makes a great tool for improving processes and procedures. The bird’s eye views from the video surveillance will help find opportunities to improve operational efficiency and identify safety risks.
Video recordings do more than provide evidence of crime, liability, and fraud. Many companies use video clips as a training tool. You’ll have footage to show how to do things the right way.
Having video cameras around the property makes it possible for the trained monitoring operator to find bottlenecks and make improvements. Video helps spot better ways to organize the property. Companies have changed things to shorten walking distances, keeping foot and vehicle traffic separate, and preventing duplication.
5. Could Result in a Faster ROI
The cost of hiring security guards could be cost-prohibitive. Besides, security guards come with other problems. First, the cost multiplies with every security guard hired. Secondly, they can only monitor what they see. Because of this, you’d need multiple guards to provide decent coverage of the property.
Security guards can’t do some of the things you might think they do. What they can and can’t do depends on the laws, training, and licensing requirements in your state.
“One of the most misunderstood and abused shopping center practices is how to legally handle persons that have trespassed,” writes Chris E. McGoey. In most states, security guards are not allowed to detain and process a trespasser.
Video surveillance can cost up to 60 percent less than security guards. This allows you to retain more of your profits. The combination of video analytics and human intelligence can see and monitor more of the property than security guards.
You can integrate remote video surveillance with other security technologies like an access control system. With an integrated security system, you’ll need fewer people to manage it and that provides additional cost savings.
The Value of Remote Video Surveillance
Alarm systems and other security technologies are reactive. Remote video surveillance is proactive. If an intruder approaches the property, analytics and human intelligence working together can identify suspicious activity before the person reaches the property.
As soon as the problem comes up, the trained monitoring operator can issue a warning over the speaker. If that doesn’t stop the trespasser, then the next call is to the police. While the police rush to the scene, the monitoring operator follows the intruder until the cops arrive.
Video surveillance technology is constantly evolving. It’s getting less expensive, more effective, and more efficient. Experienced security companies have the resources to make it happen. Innovative security technologies solve many problems including those resulting from the pandemic.
It’s easy to adapt and scale up or down as needed while boosting the marketability of your business. Read this case study to discover how video surveillance helped lower crime and save money. To get a customized security solution that fits your requirements and budget, contact us.
