How to calculate the ROI on your security
Every decision you make regarding the security budget of your business will ultimately play a crucial factor when its time to count your earnings and build a new yearly budget. Unfortunately, working out what is a justifiable amount isn’t as easy as using the often-mentioned method of return/benefit – investment/cost = ROI.
Below are a number of alternatives that might help you to calculate any security solutions as part of your overall budget.
ALE – annualized loss expectancy:
Locks on doors, windows and other entryways into your property serve as the base level of security for some 90% of all businesses. They’re the last line of defense. They are, however, often not enough in the modern world for larger scale businesses and more advanced security systems are finding their way into buildings more often as time goes by. Of course, monthly or yearly costs will increase with monitored security systems so their value needs to be considered in terms of expected loss.
As it’s impossible to apply the normal paradigm of gain vs. cost when considering a security solution for your business, considering the expected loss in the event of a security breach may help provide an easier to understand viewpoint.
Consider the types and frequency of various security risks that tend to occur in your area i.e. burglaries, thefts, in-house security hazards etc. If they are common then it is fair to consider that the perceived risk is higher and advanced security is likely to pay dividend in prevention. To a similar effect, if the frequency is lower but the actual loss associated with these risks is likely to be high, then investing in security could again save you money.
Predicting loss due to security breaches:
A reliable and certified professional locksmith that is familiar with the local area will be most able to perform a security audit for your business. The results will give you details of everything important you should consider when performing an analysis of your security needs. Once you have come to a conclusion with regards to your expected annual loss due to theft or other security breaches, you are in a much more informed position to decide on the level of spending on security.
Quickly Locksmith is the leading locksmith in Miami today and we are able to assist all business owners with all types of security and locksmith services, including security audits. We are known and trusted and serve various business owners, large boutiques, hotels and construction sites in and around the Miami area.
We are always happy to hear about your business and offer free, no obligation estimates. Give us a call!