Comparing Security Breaches to the Cost of Physical Security Equipment
Security and safety are important issues in all organizations. Schools, hospitals, and businesses are affected not only by equipment loss and damage but also by possible injuries and stress caused by criminal intrusion. Physical security technology such as door access control, IP Camera Systems, Intercoms, and Paging Systems can prevent intrusions.
This article compares the cost of adding physical security to the impact of security breaches.
What is the Real Cost of Security Breaches
Physical security breaches have far-reaching and severe first- and second-order impacts on organizations. In 2022, companies lost millions of dollars in revenue due to physical security incidents.
These impacts include:
Operational Disruptions can occur due to equipment damage, data or systems damage, or staff inability to perform their duties. The result of this disruption can cause the failure to deliver core products or services, contract breaches, and loss of business.
Legal liability can cost $2m—$100 m per incident in compensatory and punitive damages. This liability arises from a breach of duty of care, which means maintaining a safe environment to the best possible standard. It includes damages for potential severe injury, death, breach of contract, and bad publicity from legal action.
Vandalism can damage plants or equipment, causing minor inconveniences to major long-term outages. Replacing Capital Equipment could reduce production and product delivery, and replacement can cost a lot.
Damage to reputation and investigative costs could also occur when security is breached.
Security Technology is Used to Prevent Intrusions
Door Access Control, IP Camera Systems, and other technologies are used to prevent security break-ins. This protection is provided by layers of security, not relying upon one approach. Please read our article, How IP Cameras, Access Control, and Intercoms Enhance Security to learn more about creating rings of defense.
Door Access Control Prevents Unauthorized Entry
Access Control Systems use Door readers that allow users to gain entry using proximity cards or biometric credentials. These systems improve safety and reduce liability and insurance costs.
A door reader authenticates individuals based on a unique code embedded in a card. A biometric reader detects a person’s physical characteristics and is used to verify their identity. Several types of door readers are available.
Did you know the concept of biometric devices dates back thousands of years? Non-automated biometric devices were used around 500 BC when ancient Babylonians signed their business transactions by pressing their fingertips into clay tablets. Today, automated biometric door readers are an alternative to card credentials used in door access control. They save the cost of purchasing card credentials and provide more secure entry control because they recognize the person rather than the card they carry.
IP Camera Systems Provide Immediate Alerts
The IP Camera Systems observe critical areas and detect suspicious activity. The right price for an IP Camera depends on your requirements. They can range from around $150 to over $3,000. Please read IP Cameras Price Versus Performance for more information about system costs.
The latest AI-enhanced cameras monitor activity within a given area. They can prevent operational disruptions by immediately detecting problematic activity, a person carrying a gun, active shooting situations, detecting smoke and fire, and alerting authorities of potential threats. By purchasing the latest AI-enhanced IP camera systems, organizations can dramatically reduce the costs of intrusions.
IP Intercoms and Speakers Notify the Organization of Emergencies
IP Intercoms provide the perfect way to control guests entering a multitenant building. By adding video to the intercom, the person granting entry can view the individuals attempting to enter. They can also observe the area around the doorway and control multiple people trying to enter.
IP Paging Systems provides Campus-wide paging alerts to multi-building or multi-campus school or corporate environments.
Panic buttons can be added to the IP sound system to provide lockdown notifications and medical emergencies and notify the school or organization of active shooter situations or other emergencies.
The apartment intercom controls visitors in an apartment building. It allows visitors to contact residents in an apartment complex. The resident receives calls on their smartphone, and they can then see and talk to the visitor in the lobby.
To learn more about the cost and benefits of Access Control, please read The Financial Benefits of Access Control. The benefits of these systems are worth the price of installing modern door access control.
To learn more, please read our article, the Advantages of an IP Intercom System.
Summary of Equipment Cost Versus Security Breaches
Paying for security equipment is like purchasing insurance. It adds the benefit of preventing the liabilities caused by intrusions.
Security and safety are critical concerns for all organizations, including schools, hospitals, and businesses. These institutions face risks from equipment loss and damage, as well as injuries and stress caused by criminal intrusions. Physical security technology, such as door access control, IP camera systems, intercoms, and paging systems, can significantly mitigate these risks.
If you would like help selecting the best Security System, please call us at 1-800-431-1658 in the USA or 914-944-3425 worldwide or use our contact form.