Budgeting for a Security System – Can Your Business Afford to Skimp?

Do you think locking your doors at the end of the day is enough to protect your assets? Financial business planning requires an in depth review of current practices and a forecast on what measures can be taken to achieve future business success. This should include assessing security practices and allocating a budget to install new or maintain and upgrade current systems.

 When organizations are looking to tighten spending security is often an area that is targeted. Simply reducing security costs without considering the level of risk can leave a business unprotected.

 Every business (small or large) should continually review its level of risk to determine what security measures are required to best protect its people, assets and continued profitability.

 You should consider how these common security risks can impact your business:

  • Burglary and armed robbery
  • Theft of high value assets
  • Threats to employee safety
  • Workplace violence or harassment
  • Loss of intellectual property
  • Drugs in the workplace
  • Sabotage
  • Vandalism
  • Interruptions to business operations

If one or more of these risk factors keeps you awake at night, it’s time to review security systems and revise your budgets to accommodate.   CCTV visual surveillance, access control, alarm monitoring and virtual guards are just some of the strategic security measures that can be cost effectively linked to better manage business operations.

When it comes time to justify a security budget, it is as simple as identifying the financial impact of insufficient security systems on the business. While the initial investment in improved security may be a large outlay in the short term, effective security measures can help to identify and target security issues early and reduce the costs of security incidents in the long term.

To assist with planning your business’ security requirements, consulting a security specialist is a good start.

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