Security systems integrators know the value of becoming more efficient. Increased margins, reduced truck rolls, and better service for customers are all possibilities aimed at maximizing efficiencies, but there are bumps in the road.
How does a security systems installer tackle customer retention, finding qualified salespeople and technicians, compliance requirements, and rising costs of doing business? And that’s only naming a few.
That’s why nearly 300 executives, supervisors and managers from across the United States and Canada participated in CI‘s sister publication Security Sales and Integration‘s sixth annual Operations & Opportunities Report (OOR) to share profit-making and cost-saving ideas and growth opportunities in their field.
The report pinpoints not only how to effectively manage profits and costs, but also the specifics of implementation. The research also includes new technologies and services with the strongest upside potential, as well as the most thriving vertical markets.
This year’s findings include:
- Video surveillance is associated with the top three project-based revenue sources.
- Health care, government, education and retail are vertical markets on the move.
- Managed/hosted access control, PERS, interactive services and managed network security services are growing recurring revenue areas.
- Not selling maintenance & service contracts or charging enough for services is costing contractors money.
- Pursuing customer satisfaction is perhaps at an all-time high.
- It’s a sellers’ market as company stakeholders expect higher multiples to sell their businesses.