Security as a Service: Smart New Payment Model Saves Money & Improves Protection
Why hasn’t your organization signed up yet?
The physical and digital security of your organization is non-negotiable. Everything hinges on keeping assets and employees safe while you do business. That’s why many companies sink large amounts of money into their security systems. You probably do too, if you’re involved in managing security.
But, as you may be aware, there are issues with traditional security purchasing – especially now in the face of economic stresses related to COVID-19.
The biggest issue companies are facing is obsolescence. Security equipment loses value rapidly, just as a car loses value the second you drive it off the lot. Security system components notoriously wear out before you have the funds for replacement, or worse become outdated when new technology is introduced. At the end of your system’s lifespan, you can be left with a huge bill to replace or upgrade all or part of it. Not convenient (and potentially devastating) if your operation also is struggling financially.
If only there was a system that didn’t become obsolete, or is there?
Security as a service (SECaaS) solves many of the physical and digital security system problems that have given companies headaches year after year. With this payment and service model, you can say goodbye to huge budget spikes and outdated equipment. You can tap into the knowledge of specialists who are experts in every aspect of your system. And most importantly, you can avoid the security vulnerabilities you might be facing now because you don’t have the funds to provide what your organization needs.
What is Security as a Service?
Security used to be, and still is in many companies, a stand-alone department. However, security systems are increasingly linked to IT and cloud services. “I would say about 80% of our security customers either report to IT or have some kind of partnership with them to make security work,” Jamie Bumgardner, Prime Communications, COO said. “It can get tricky trying to determine who’s responsible for what.”
SECaaS solves this decentralization problem by bringing all traditional aspects of a security system together under one umbrella. Users sign a service contract that encompasses all aspects of security over a renewable period of time, which spreads out costs over a predictable monthly payment. Your service provider then takes responsibility for procurement, deployment, ongoing maintenance and software upgrades – even parts and full component replacement with no additional charges.
Your contract ensures you have the use of the equipment or approved replacements for as long as you would if you owned them yourself.
TAMCO is a third-party payment company specializing in convenient security payment plans. The company’s managing partner Paul Metzheiser puts it in a nutshell: “People are realizing there’s no benefit in owning this technology. Use and access are more important than ownership.”
Massive Savings and Predictable Expenditures
The most obvious benefit of a SECaaS system is financial. Metzheiser said it amounts to having an easier point of entry and re-entry to get needed technology. It removes security’s traditional large initial cash outlay and sidesteps some other challenges of both paying cash and leasing.
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 Baumgardner. “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. But so many companies hesitate because security is just a capital expense they’re used to.”
Leasing equipment presents a similar problem. At the end of a lease, when the equipment is finally yours, it’s likely already outdated. With a monthly service contract, costs are low from the start and your equipment consistently stays on the cutting edge. Metzheiser warns, “It’s important to know what’s in your contract, because many leases are dressed up as full-service contracts, but you are responsible for more than you think, and it still ends in ownership.”
Some security managers believe they can negotiate better prices on security equipment themselves. However, an experienced, service-centric security integrator will have the expertise, relationships and bulk purchasing power to get better deals.
“This is much like software as a service (SaaS) contracts we all have these days, such as Netflix, Spotify and Microsoft 365,” Bumgardner suggested. “You pay a small amount to enjoy the movies, music or programs any time you want. Those companies manage all equipment, technology and upgrades needed to keep delivering the service. With security as a service, it’s the same, but we include buying and servicing equipment at your location, including replacement.”
Bumgardner points out that SECaaS contracts make life cycling security equipment easy. “When you buy equipment, by year 5 or 7, you’ll be forced to do at least a server upgrade and you have to budget for it by year 4. That’s typically a huge investment. Security as a service allows automatic, predictable, effortless life cycling.”
Third-party service contracts, like the one offered by TAMCO, also often include protections beyond SLAs and break/fix, such as Act of God insurance coverage.
Cutting-Edge Security Equipment Puts You Ahead of the Curve
In addition to reducing financial risk, SECaaS allows companies to be more responsive when new technology is introduced. A security service partner continually looks at all the latest tech and updates your equipment with every leap forward. That means you can take advantage of new technology now, not years later when you’ve finally paid for your system.
What if your company changes and you need something different? While you wait for purchased equipment to depreciate, you’ll be behind the curve of technology. Your competitors may have an edge over you while you limp along until you can afford a replacement. New technology may come along that could solve an important security problem, but you can’t afford it.
With a SECaaS contract model, depending on terms, you stay on the cutting edge or close to it. Security cameras are a good example. Manufacturers often release several new models a year to stay ahead of criminals. With the traditional purchasing model, you often aren’t in a position to upgrade cameras soon after they come out, SECaaS allows you to more effectively navigate the technology roadmap.
This probably sounds familiar. “In most companies, the IT side of the house has been working with monthly subscription models for network security for a long time, and they know how it works,” Bumgardner explained.
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 all these reasons, this is the future of security.
A good SECaaS provider can customize the services you require to deploy, maintain and upgrade systems. However, it’s important to choose a service-centered provider, not a project-based company, Baumgardner said.
“You need a professional integrator that’s used to providing service every day, with a reliable track record, forward-looking capabilities and specialized teams for each faction of your system,” he explained. “Ultimately, this reduces both your financial and security risks and puts you in a better position than if you expected your own IT crew to fill all the gaps. When it comes to security, don’t settle for anything but the best.”
Is it time for your organization to migrate to security as a service? We can help you analyze your unique situation and plan a transition. Contact Prime Secured at 402-289-4126 or email@example.com.