Security is paramount to a business – there is no way around it. Without a proper security plan, a company is vulnerable to substantial losses, or in extreme cases, bankruptcy. According to data from the FBI and the US Department of Justice reported by The Zebra, 34% of burglaries that happen every year affect businesses.
To protect against these risks, all businesses need commercial security services. But proper coverage is not apples-to-apples. Every company is different and has a unique set of challenges. As a result, simply knowing where to start with commercial security systems can be the most challenging part of the process.
In this post, we’ll explain how to budget for proper security services, the factors to consider, and the next steps. Let’s get going.
What is Security Service Budget?
The security budget is the funds to protect your business against losses and liabilities. Every business needs to consider how much money should be allocated towards security, both in terms of systems and personnel needed to protect their assets.
When budgeting for commercial security systems, there are many factors to consider, which we’ll look at in the next section.
Determine What is Essential in Commercial Security Services
The best way to start planning a budget for commercial security services is with an overview. Every company has certain components that are absolutely essential to running the business. This may include:
- Equipment (computers, tools, machines, vehicles, etc.)
- Intellectual Property (patents, trademarks, inventions, rights, software, confidential information, etc.)
- Data (customer details, financial information, sales data, inventory data, etc.
Examine your operation from all angles and create an exhaustive list of everything that keeps you in business. You and your commercial security services provider will need to understand this down to a tee to determine a budget and level of coverage.
Map Out Commercial Security Risk Factors in Detail
All businesses have their own risk factors – that’s why customized commercial security systems are crucial in providing adequate protection. You’ll need to work with an expert to understand how costly a breach would be in terms of:
- Financial Losses: Business disruption due to vandalism, break-ins, or system failure can cause major financial losses. You need to assess potential damages and the cost of an incident in order to evaluate the benefits of investing in commercial security solutions.
- Legal Repercussions: Depending on the type of information stolen, a breach can lead to legal issues that might require costly settlements or even fines.
- Fines: Some breaches can result in hefty fines, especially if sensitive data is compromised or there are violations of privacy laws.
- Lost Brand Reputation: Businesses can suffer long-term damage to their reputation if customers and the public lose trust due to a security incident.
Keep in mind, that not all risk factors for a business are physical. For example, keeping burglars away from the business-critical property is simple with the right commercial security systems in place. On the other hand, cyber threats are a completely different ballgame – and one that’s evolving by the day.
Companies need to understand the value of their data and the repercussions of a cyber breach. For example, protecting healthcare data is mandated by HIPAA compliance. Failing to have proper computer network security can result in a major fine – in addition to a compromised relationship with patients.
Potential losses should be measured against the commercial security services budget. Take your time with this. If you aren’t sure what your risk factors are, turn to an expert – this is one of the most important steps in protecting your company.
Leave No Stone Unturned
Blind spots and gray areas have no place in commercial security services. Instead, you need to consider every potential entryway and vulnerability. For starters, this would involve doors, windows, holes in the IT infrastructure, and so on.
Now, protecting entryways may seem clear on the surface, but it takes an expert eye and planning to make sure everything is covered properly. This process might involve the strategic placement of commercial security solutions, such as cameras, access control clearance level policies, and more.
You’ll need to work closely with a commercial security service expert to cover all your bases. It’s important to remember that not all security threats are external. Studies have found that about 25% of business security incidents involve insiders.
A professional commercial security service provider will help you create access control systems, clearance level protocols, and everything else to safeguard against internal and external threats.
Start with the Basics and Work Your Way Up
Planning out a commercial security systems budget should start at the top with the barebones components. This would include high-quality locks, anti-virus software, and remote access control for sensitive areas (like data centers). Covering the basics first will do a lot to deter break-ins and minimize risks.
Once these are factored into the budget, you can consider other components like a security service camera setup, monitoring systems, biometric readers, etc. These systems may not be necessary for smaller companies, but they should be considered alongside the company’s growth plan. As the operation gets bigger, the risk factors will increase – and so will the commercial security system budget.
Talk with your provider about the business’s trajectory. The experts will help you plan for one, two, and five years down the road. Always remember, that commercial security solutions are all about proactive planning. You never want to be forced to plan AFTER a breach/break-in occurs.
The Next Step
Planning a budget for commercial security services can be intimidating – but it’s a crucial aspect of protecting your business. The key is to start small and map out the essentials. From here, get in touch with a professional commercial security solution provider. These specialists will examine your business under a microscope to determine your needs, risks, and level of security needed.
At 2 Krew, we’ve provided customized commercial security systems in Pittsburgh and the Greater Metropolitan for over 15 years. Our experts will make sure your business has all the coverage it needs – within your budget. Give us a call at (724) 543-0274 or send us a message online to get started.
