Pivoting to Security-as-a-Service: A Proactive Response to the Impact on the Economy
The U.S. economy remains unsettled during COVID-19. While many businesses have reopened, a majority continue to operate in limited capacity, either due to reduced occupancy numbers, or because customers are not comfortable to fully return to their pre-COVID consumer habits.
The accompanying decline in revenues means many businesses may be proceeding with caution on spending. They may have shifted to a more conservative cash preservation mode in hopes that they will survive until a new normal is established.
While splash shields and social distancing floor markers are a start, when it comes to technology, companies now have to incorporate new communication tools. A major one being video conferencing, to support remote employees so they can continue to collaborate with colleagues and customers. Then there are additional security solutions being installed in businesses as employees come back to work like touchless entries and thermal imaging solutions to pre-screen employees and customers for elevated temperatures, one of the most common symptoms of COVID-19.
Whether the pandemic is modifying social and commercial interactions, and whether or not the economy is good or bad, the reality is a variety of technology solutions will always be critical tools organizations use to help them achieve success. That is why during these difficult times, it’s important to adapt to new ways to help clients preserve capital like monthly payment procurement options.
Prime Communications has adopted a model that gives users the flexibility to take on new technologies at a low cost and the ability to control their technology roadmap.
Prime pays particular attention to the how-to pay aspect of customers’ security solution design efforts. Buying equipment outright restricts cash flow and burdens the organization with hardware ownership until it’s depreciated enough to justify replacement. “Security as a service leads to much better use of capital,” said Jamie Baumgardner COO of Prime Communications. “Switching to this model with a trusted service provider allows you to invest capital into revenue-producing projects instead of wasting it on depreciating security equipment.”
Security-As-A-Service program alleviates the following concerns
1. Cash Preservation
COVID has forced organizations into a capital preservation mode. In fact, in a recent survey with top national retail chains, 89 percent stated that their 2020 and 2021 budgets have been greatly impacted. Most CAPEX budget plans for technology equipment essentially dried up overnight. Now, more organizations are noticing that under an OPEX model they have better control over their cash flow. With an as-a-service OPEX subscription solution, customers pay a low, convenient and predictable monthly payment that includes the total security solution, and support services.
2. Uncertainty in The Solutions Needed
The Security-As-A-Service model addresses the uncertainty within technology strategies. Most organizations have had to completely adapt their technology needs due to the unexpected changes this year. And many organizations are still uncertain about what they may need going forward. This flexible option allows them to adapt freely.
A Payment Model that Provides You with More Security, Less Worry
In a world where security risks change by the day, paying large sums of money just to own equipment that will be soon outdated can represent a huge risk. Security-as-a-service saves money, provides flexibility and keeps your defenses tight using a payment structure that has proven itself. For these reasons, this is the future of security.
To learn more about Prime Communication’s Security-as-a-Service program, contact us today. Let’s discuss your specific security technology needs.