Integrated platforms that seamlessly combine various health, safety, and security hardware and software solutions are a priority investment area for the next 18 months.
A Stanley Security survey of business leaders shows that an integrated platform that seamlessly combines various health, safety, and security hardware and software solutions is a priority investment area for the next 18 months.
Stanley Security’s
2022 industry trends report that presented the results said that forty-six percent of the respondents wanted this, less only to an enhanced IT infrastructure. Forty-five percent also said they would invest in integrated analytics driven by artificial intelligence (AI) and machine learning.
Seventy-eight percent of the business leaders said that the pandemic forced them to adopt new technologies rapidly. The top technologies that have already attracted investment include enhanced IT infrastructure, cybersecurity solutions, cloud security solutions, traditional physical security solutions, and professional managed services like risk assessment.
Sixty-five percent of the respondents want to hire a new senior manager to handle these newly adopted technologies.
The report also identified three areas of interest and opportunity. The first is solutions that enable businesses to offer a safe and convenient hybrid work environment. The use of AI and analytics to optimize operations is the second, while the third is tapping the potential of 5G.
A shift of focus beyond the pandemic
The arrival of COVID-19 in 2020 forced businesses to drop almost every plan and focus on running operations in line with health care guidelines. This continued to 2021, when the Omicron variant worsened the situation despite hopes of recovery. But now, businesses are starting to expand their focus from health care concerns to other operational areas.
In the report, Matthew Kushner, Global President of Stanley Security, said that the pandemic made organizations rely on security companies to create safer, healthier environments. The world is still in this new reality, but some things are changing.
“We’re just beginning to see organizations expand their focus beyond solving the immediate health and safety challenges, but we will soon see a marked shift as they continue to rebuild for the future,” Kushner said. “New priorities will emerge – chief among them are driving operational efficiencies, finding cost savings, and optimizing logistics. These are increasingly top of mind, as organizations face economic challenges presented by supply chain disruptions and the inflation surge.”
Also read: Verkada open to more integration and interoperability.
New concerns in the horizon
A key concern for businesses now is getting more value from their existing investments. Kushner explains that this is where management should pay close attention to their existing security infrastructure because their full value is often untapped.
“Stored within these systems are incredibly rich insights that, when unlocked, can help drive productivity and efficiencies, fuel business growth, and protect profit margins,” Kushner said.
Another priority area that’s emerging is sustainability. Modern organizations understand that their corporate responsibilities include a commitment to sustainable practices. As people across the globe become more aware of its importance, this shift in approach is necessary to attract the right talent and investors as well.
“We’ll likely see businesses pick up these efforts with renewed vigor, with an eye toward improving environmental, social, and governance (ESG) ratings that affect investment decisions,” Kushner added. “In much the same way security technology can power cost savings and business efficiencies, so too can this technology help organizations achieve ESG goals. Innovative, sustainable, and data-driven solutions that help organizations create safer, healthier, and more efficient environments will be key to redefining the business of the future.”
Security in a changing business environment
After the pandemic, businesses are looking for the right mix of operational styles that suit their needs. While many companies want to bring employees back to offices in the next 18 months, some explore the hybrid work model.
Regardless of the models, security solutions have a crucial role in making them work. Beyond that, these solutions are also well-placed to provide a competitive advantage to organizations looking to drive more value from their investments.
“Organizations’ goals range from driving efficiencies and optimizing real estate to addressing health and safety requirements and fueling ESG initiatives – all of which can be powered by an integrated, data-driven security ecosystem,” Charlie Erickson, Chief Technology Officer of Stanley Security, noted in the report.
What this could mean
Going by these findings, the security industry could continue to play a key role in business operations as the world recovers from the pandemic. But while the last two years have been about adopting new technologies, this year could be about extracting more value from them.
AI and analytics are integral to this. Customers are increasingly becoming aware of the power of algorithms in making their security hardware smarter. In 2022, demand for analytics may rise even further.