Recurring revenue has been the key in the traditional model of enhancing the value of a security installer’s business. Providing a professional service at installation stage and continuing through to maintenance is a necessity for growing the correct reputation & securing recommendations.
It can be sometimes difficult to convince end users to commit to an ongoing charge. In a ‘pay as you go’ climate where recurring costs and committing to an annual service can be a difficult sell it is vital if the installer can have a different approach or be in a positon to offer something extra.
Historically recurring revenue has been driven by the need to have the Alarm System monitored, thus providing police response via an Alarm Receiving Centre. Today, primarily because of cost the majority of systems installed are bells only.
Over the last year the growth of self-monitoring via Smartphone Apps has changed the dynamics of the communications and monitoring market immeasurably. In such a changing environment how do you protect your revenue in this market?
It’s not just about the here & now, at some stage you may consider selling your company. Contracted recurring revenue will play a big part in how your company is valued.
Most manufacturers have launched Apps at this point but not all can help drive recurring revenue. SecureComm, a cloud service offered via the HKC APP allows the installer to sell a “self-monitored” solution to end users. This could be the differential needed to help installers get the customer over the line and commit to an ongoing contract.
There is also a value add to the installer using the Cloud Service. SecureComm also gives the Installer, easy connectivity and access to his installed systems and enable him to carry out remote maintenance, programming /diagnostic functions, as well as adjustments to detection devices and control equipment.
Remember, not all engineer visits to sites are chargeable, but they always have a cost for the Installing Company e.g. petrol, labour etc.
HKC SmartLink 700 software enables Installers to programme panels & peripherals remotely. Not only reducing the need to attend site, but also freeing up engineer time to carry out work that is chargeable & offering the end user a higher level of service.