by Bold Group | Jul 6, 2021 | Alarm Monitoring
As a security provider, you need to be able to deal with a variety of challenges. Your team needs to be able to respond swiftly in the event of an emergency. They need to be able to achieve turn-on-a-dime operational flexibility. And they need to be able to grow their capabilities in the right way.
What’s more, all of this needs to be delivered consistently. Only then can you offer round-the-clock reliability to customers.
This is where cloud services provide significant value to your security businesses. In this article, we’ll be looking specifically at ways cloud services benefit security providers.
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by Bold Group | Jun 15, 2021 | Alarm Monitoring
Downtime is a dangerous thing for alarm monitoring centers and central stations. The effects can be catastrophic.
If your systems are down, even for mere minutes, you can’t provide your promised monitoring services. And it only takes one critical incident to destroy years of reputation building. One day, you’re a trusted name. The next, an unpredictable wildcard.
You simply can’t take chances with downtime. And yet, even the most meticulously guarded systems will occasionally go offline. So how do you mitigate potential damage?
In this article, we’ll explore downtime. Specifically, we’ll be looking at ways you can avoid it and, in worst-case scenarios, minimize it.
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by Bold Group | Jun 1, 2021 | Financial Management
Accounting automation can benefit your security business in a variety of ways.
First, you’ll be able to complete many of your accounting tasks in less time. There will also be less opportunity for human error, which comes with its own costs. But one of the most important ways it can benefit your bottom line by providing consistent cash flow.
Cash flow is one of the most critical aspects of any company’s finances. It needs to be positive and predictable. Yet, more than 40% of small business owners with cash flow issues were caught off guard by the problem.
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by Bold Group | May 25, 2021 | Business Management
Running a security business can be challenging.
Along with trying to grow your overall business you have a variety of other tasks on your plate. You have to manage marketing, customer service and administrative tasks to ensure your company is running efficiently. There may even be times when business management processes aren’t particularly effective or efficient.
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by Bold Group | May 10, 2021 | Business Management
Recurring revenue is at the center of almost every security business model. It is the lifeblood that every dealer either thrives on or struggles to build. However, not all recurring revenue is equal. Recurring monthly revenue is both the revenue that you earn on a recurring basis and efforts to improve that number. Many security dealers could benefit from investing in their RMR processes.
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by Bold Group | Apr 19, 2021 | Alarm Monitoring, Central Station Software
The cloud has had a huge impact on how many organizations do business. However, many security and alarm monitoring companies have been slow to adopt it. This may be because many do not fully understand the potential of the cloud. Plus, with the inherent security concerns that come with any operational changes, industry leaders have been unmotivated to make the switch.
Despite this slowness, there is a lot of potential value to be gained by using cloud-based alarm monitoring. Understanding the benefits will help you decide if making such a change is right for your business. (more…)
by Bold Group | Apr 5, 2021 | Alarm Monitoring, Business Management, Central Station Software, Financial Management
As a security dealer, you likely work with a patchwork of systems that covers your financial and operational needs. This mishmash of systems is often viewed as temporary or short-term until you have the time to review, purchase, and integrate an all-encompassing system. All too often, though, that day never comes, and you’re left with several disparate data systems that work, at best, awkwardly with each other.
This means your organization is wasting energy, time, and money trying to gain control of their snowballing data needs. If you find yourself in this situation, it’s time to review the ways disparate data from disparate systems are causing active harm to your company. (more…)
by Bold Group | Mar 22, 2021 | Business Management, Financial Management
How well do you know your customer data? When you need to make a strategic decision, can you make it based on data, or do you need to follow your gut? In the security business, collecting data and making it visible can help you to run a more successful company. Below, learn what data visibility is and how through good customer data visibility, security companies can thrive. (more…)
by Bold Group | Mar 8, 2021 | Alarm Monitoring, Business Management, Central Station Software, Financial Management
No matter how time changes or which organizational fads come and go, one thing remains true: companies continuously strive to turn a profit. To increase your profit margin, you have two choices: increase revenue or decrease costs. Here we discuss what effective security companies are doing to lower costs, streamline processes, and increase their profit margins. (more…)
by Bold Group | Feb 22, 2021 | Alarm Monitoring, Business Management, Central Station Software, Financial Management
“That’s the way we’ve always done it” is a commonly heard phrase at many security businesses. Some would say that if a process isn’t broken, you shouldn’t fix it. However, what happens if the process is broken but you don’t realize it? Processes at security dealers should be audited and actively managed. Otherwise, you may be risking (or already experiencing) significant harm to your business. (more…)
