Can a Security System Save My Business Money?

If you’re a business owner, you know the importance of weighing the pros and cons of major purchases before making them. A commercial security system is one of the higher-ticket items that can cause the most significant hesitation. While they can take large investments to purchase, install, and maintain, security systems can offer long-term savings from various sources. Learn how your company can benefit from commercial security system savings and what to include in your set-up.

4 possible savings from a security system

Paying for any business insurance policy can be an expensive headache, especially if you have multiple plans to cover employees, your building, and other parts. Insurance companies often set their rates based on their perceived level of risk for different policyholders. These costs frequently compound when considering insurance for workers’ compensation, professional liability, and other areas. Fortunately, a security system can help reduce your premium, as long as it meets your provider’s expectations, because it helps reduce potential risks. If you follow your provider’s guidelines for qualified systems, you could receive a discount based on how well you protect your business from potential crimes.

Besides receiving insurance premium discounts, your business can potentially save even more money through tax deductions. The Internal Revenue Service (IRS) generally considers expenses related to the maintenance and improvement of your company as spending that’s eligible for tax deductions. Commercial security systems are direct investments in protecting businesses, employees, and customers from harm, so any security and safety costs could count as deductible purchases. The IRS does differentiate, however, that excessive or unnecessary security purchases may not qualify.

Potentially deductible expenses related to a security system can include:

• Equipment purchases
• Installation fees
• Maintenance expenses
• Monitoring costs
• Upgrades or repairs

Criminals who commit burglaries, vandalism, and other crimes seek options with the highest levels of opportunity. While overgrown landscaping and other factors can make your business seem like a prime target, the most significant aspect that can make you more susceptible is the absence of a security system. Whether you’re more concerned about suffering losses due to break-ins or petty shoplifting, installing a comprehensive system can help you avoid the costs of poor security by deterring potential criminals. If your business falls victim to a crime, evidence from your security system can help you recover what’s lost and avoid expensive, drawn-out cases by pursuing criminal or civil damages in court.

One less obvious saving a business can get from a security system is protection against various liabilities. Accidents and incidents can happen on your premises, even if you follow your industry’s safety protocols. In any case, issues can lead employees or customers to file lawsuits against your company. Unfortunately, people even pursue fraudulent lawsuits by falsifying an accident and seeking compensation. With a security system that includes surveillance cameras and access control, you can monitor and record activities that occur within your property. This footage can serve as crucial evidence in disputes, helping protect your business from false claims and expensive legal fees.

What should I include in my security system?

While there are endless possibilities for what you could include in a security system for your business, effective security systems often share several components in common across business industries and scales. Besides a standard alarm system, these four elements can play a crucial role in helping your business save money in preventative and active ways.

Regulating who can enter your business, whether it’s open or closed, is essential to protecting your business assets and customer information. Access control systems from companies like Avigilon Alta use keycards, biometric scanners, electronic locks, and more to ensure that only authorized personnel can access certain rooms. By restricting access to sensitive areas around the clock, you can deter unauthorized entry and protect valuable assets and information. Additionally, access control systems provide detailed entry and exit records, helping you monitor and manage employee movements directly or indirectly related to security concerns.

A crucial security system element that can help safeguard your property is cameras. With strategically placed CCTV cameras, you have the power to monitor activities in real time and capture footage for future reference. The visible presence of security cameras acts as a strong deterrent, significantly lowering the risk of theft and vandalism. If an incident genuinely or allegedly occurs, the recorded footage can serve as invaluable evidence, expediting investigations and aiding in the swift recovery of any losses. Security cameras are a proactive measure that can protect your property and peace of mind.

Different types of security cameras include:

• Dome
• Bullet
• Turret
• 360 fisheye
• Doorbell
• Bookshelf
• Pan-tilt-zoom (PTZ)

Motion detectors are a crucial security feature that can significantly improve your company’s protection. These devices can detect unauthorized movement, providing an additional layer of security, especially during non-business hours. When triggered, they activate your alarm system and allow for quick intervention to prevent further damage. Motion sensors can effectively deter more serious break-ins and reduce property damage by promptly identifying and deterring suspicious activity. Plus, they’re a budget-friendly solution compared to other system elements, offering more consistent peace of mind and reinforcing your security measures at a reasonable cost.

While a decked-out system can help you avoid paying the price for bad security, it’s only effective if someone’s watching it 24/7. Partnering with a professional monitoring service ensures constant surveillance of your property. Monitoring services can provide real-time alerts and verify security breaches, giving you peace of mind that your business is always protected. These services often include emergency dispatch, ensuring that law enforcement or security personnel are promptly notified in case of an incident. Remote monitoring capabilities also allow you to keep an eye on your business from anywhere, enhancing your overall security and operational efficiency.

Whether your company needs a basic commercial security system installed or updated, the team at FSS Technologies is here to help you find the most cost-effective solution. Our customers can rest easily knowing their business is in safe hands, from our thorough security assessments to efficient system installations. Once your system is installed, our expert service technicians will help you learn and follow proper maintenance protocols to ensure your system protects your business from security failures and costs. Contact us today to get started.