Copy of Boosting Loss Prevention with Keyless Smart Locks

There is no greater responsibility for a business than ensuring the safety of employees and customers while at the same time safeguarding valuable products and inventory. Over the past few years, greater threats have risen that have forced businesses to take another look at their loss prevention and security measures. The impact of coordinated crime and organized retail crime (ORC) has prompted companies to adopt a multi-faceted and proactive approach to theft prevention and personal safety.

The National Retail Federation has stated that organized retail crime (ORC) presents a serious problem for retailers of all sizes and the communities in which they operate. ORC represents a sizable amount of the estimated $112 billion in losses due to theft in 2022 according the NRF.

Fortunately, businesses have access to new technology that, when properly deployed, can help to abate the rising tide of theft. While traditional loss prevention technologies such as cameras and sensing systems continue to be the mainstays for businesses, a relatively new technology is starting to make inroads in security technology: keyless protection systems.

The Evolution of Security: Keyless Access

Digital smart locks, synonymous with keyless access, are becoming indispensable for companies wanting to fortify their security measures. Unlike traditional locks and keys, which can be easily misplaced or duplicated, keyless entry systems leverage smart device technology to provide a more secure and convenient means of access.

One of the most important features of digital smart locks is the ability to grant access selectively. Businesses can determine who has access to certain areas at specific times. This not only enhances security but also allows for efficient management of employee schedules and access permissions. For instance, employees can be granted access only during their designated working hours, and specific areas can be restricted during non-operational times.

“With keyless access solutions, a digital audit trail can be maintained to provide valuable insights into entry and exit patterns,” said Joe Hinrichs, Vice President of Information Technology and Product Development for Bailiwick. “This data, which can be accessed using a smart device, can be crucial for compliance, investigations and internal audits, ensuring accountability and transparency in access management.”

Financial Benefits of Keyless Locks

Traditional security systems often require rekeying when personnel changes occur or when keys are lost or stolen. Rekeying safes, a common practice in businesses with traditional lock-and-key systems, can be an expensive and time-consuming process, costing up to $1,200. Digital smart locks eliminate this need altogether, saving businesses both time and money.

“While the initial investment in digital locking solutions may be higher than traditional locks, the long-term benefits outweigh the costs,” said Hinrichs. “Reduced expenses associated with re-keying, lock replacement, and key management contribute to significant cost savings over time.”

The implementation of keyless entry systems contributes significantly to employee and customer safety. With precise control over who can access certain areas, businesses can create secure zones for sensitive information, confidential materials, or valuable products. This not only protects assets but also ensures the safety of individuals within the premises.

Integration with Smart Building Systems

Keyless smart locks can be integrated into smart building systems, offering a complete approach to loss prevention and security. These systems can include surveillance cameras, alarms, and other sensors, creating a comprehensive security network that actively responds to potential threats. The interconnected nature of these technologies enhances the overall security infrastructure of a business.

“As a strategic technology deployment partner, Bailiwick, is positioned to assist our clients in uncovering the value of moving to keyless locking solutions and integrating them into a complete loss prevention and security system,” said Hinrichs.

Summary

As businesses navigate the ever-evolving landscape of security challenges, the adoption of digital smart locks emerges as a progressive and efficient solution. By offering keyless access, customized control, and eliminating the need for costly rekeying, these advanced security systems contribute not only to the protection of valuable products but also to the safety of employees and customers. As technology continues to advance, the integration of digital smart locks into business security protocols becomes not just a choice but a necessity for those looking to stay ahead in the realm of modern security.