Hidden Costs: 7 Ways You Didn't Realize Spy Cameras Can Save Your Business Money
Did you know tools as common as security cameras help authorities close cases that might otherwise have no leads? In particular, it helped them track down the suspects of the Boston Marathon bombing. It also helped them identify the suspects from the 2005 London attacks.
With more sophisticated technologies today, we don’t doubt that security cameras will further help them detect, prevent, and solve crimes.
But what about small businesses, what do security cameras help them with?
One of the biggest advantages of commercial camera systems is that they can help save money. Keep on reading to learn how you can use it to save your business money.
1. Deter Employee and Customer Theft
The presence of a security camera can deter thefts, break-ins, and other crimes. Criminals don’t like taking unnecessary risks, and this is coming from thieves themselves.
They said that they’re more of opportunists; security cameras will make it harder for them to break in.
Even customers who might be thinking of slipping some snacks into their bags will think twice because they’ll know someone is watching them.
It will also deter workplace theft, a crime so rampant that lead to a $50 billion loss back in 2016.
After all, they’re the ones closest to your merchandise and money. They may be able to fool your money-counting process, but it will be hard for them to do that in front of the camera.
2. Boost Employee Productivity
Trust is important in a professional relationship, but some are prone to abusing that. The thought of nobody monitoring them can encourage them to slack off. They may do other stuff you’re not supposed to do in your workplace.
They may, for example, take extended smoke breaks. Instead of working, they may use social media or play on their smartphones.
Owners of small businesses who can’t come in every day to manage their own business can use their security network to keep an eye on their employees. This enables you to catch latecomers, non-adherence to safety protocols, and poor performance.
The employees will be more eager to perform well because “someone” is watching them. You’ll get the results you’re paying for. This may even increase your profits as your employees continue to work harder.
3. Monitor System Performance
Commercial camera systems don’t only allow you to watch your employees but your equipment and products, too.
If you’re in the manufacturing industry, you can catch jams and other failures in your machinery by keeping watch via the cameras. You’ll be able to catch issues before they become bigger problems that can cost you a lot of money on repairs.
If you spot any production issues and damaged products, you can take action right away. If you pause it, the damaged goods won’t go through the whole process. This saves your resources and reducing waste.
Making sure everything is in line at all times will prevent loss and delays in shipments.
4. Avoid Frivolous Lawsuits
A disgruntled customer can file lawsuits that may have no real basis against you. If it’s only your words against theirs, how can you protect your business?
Furthermore, lawsuits like this can damage your reputation even if you were in the right. This might cost you even more money because of the loss of customers or canceled contracts.
Security cameras come in handy in such instances. You can use the footage captured to show the real story. Customers will know they won't be able to fool you, too.
You won’t have to deal with lawsuits that might otherwise cost you huge amounts of money.
5. Curb Sexual Harassment Cases
In 2019, the Equal Employment Opportunity Commission received 7,609 cases of sexual harassment. All these claims amounted to over $56.6 million in monetary benefits.
This means this isn’t only bad for your employees’ wellbeing, but your company’s financial status, as well.
Having a security system protects them from such instances. These things happen when no one else is watching, but the camera is always watching. If it still happens in spite of it, your security footage can act as evidence against the perpetrator.
When your employees feel secure in the workplace, you can also expect them to perform better. You avoid getting in the middle of an expensive case, and your business has the potential to maximize profits because of their good performance.
6. Document Incidents
Protecting your employees should be one of your top priorities. But you should protect yourself from the potential risks, too.
Employees can file false claims, as well, to get workers’ compensation against your insurance. After all, all they have to do is claim they got injured while on the job.
Your security camera can document the whole incident they were referring to. If no injury happened in your business, then it’s a false claim.
It will also document if a dishonest employee faked an injury or did it on purpose.
7. Reduce Insurance Costs
Did you know that having a security system in place can reduce your insurance costs? This is because insurance companies compute your policy based on risk.
The higher the risk of your business, the higher your insurance cost is. This also explains why businesses in bad neighborhoods have higher premiums.
Security cameras mitigate the risks of your business because of all the reasons stated in this article. Instances of theft will be much lower, workers wouldn’t be able to file false claims against your policy, and you have lower risks of property damage because of your tightened security.
As a result, you get lower insurance premiums. Talk to your insurance agent about this first to see how much you can save.
Get Reliable Commercial Camera Systems Now
To enjoy these benefits, research the best business security cameras first. Know what you want and what you need for your business, then look for commercial camera systems that can address those needs.
Let us help you find what you need; contact us and let’s get started.