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Four Ways Security Cameras Boost Profitability

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Most businesses consider adding security cameras as a way to improve on-premises safety. While security cameras do improve workplace safety, they also offer tangible benefits, such as improving your bottom line.

If you are thinking about adding security cameras to your place of business, consider the following benefits. Not only will the cameras help you reduce some of the costs associated with doing business, but they may also help you attract and retain more customers as well.

Reduce Shrinkage

All inventory-oriented businesses must contend with the problem of shrinkage. No matter how well you organize and run your business, some percentage of your product will tend to vanish into the ether. While no security system can completely eliminate this phenomenon, security cameras can drastically reduce the amount of shrinkage from which your business suffers.

Placing security cameras in low-visibility parts of your retail space will help prevent visitors from shoplifting, but don't forget to place cameras in employee-only areas, such as the employee lounge, as well.

Deter Criminal Activity

Theft is not the only crime that security cameras can thwart. Minor crimes, such as vandalism, are easier to prevent if your business has a full complement of security cameras. In those cases where the cameras do not deter the bad actor, they can help you to work with the police to bring the violator to justice.

Perhaps the greatest benefit provided by security cameras is their ability to deter serious crimes, such as those involving violence or the use of force.

Reduce Insurance Premiums

Because they help deter crimes, security cameras may help reduce your insurance expenditures. Most insurance companies will reduce your premiums after you install security cameras, so be sure to bring this to their attention as soon as possible.

Some insurance companies require a given number of security cameras to attain premium reductions, so it is wise to reach out to your insurance provider before your security camera installation to make sure you derive the best benefit. 

Make Your Customers Feel Safer

Most customers feel safer in stores that take security seriously, and nothing proves this to customers better than security cameras do. Because customers would usually prefer to shop in safe places, your business is sure to see a substantial rise in foot traffic after installing security cameras. In most cases, this increased traffic will lead to increased sales.

To maximize these benefits, be sure that some of your security cameras are in highly visible areas. You can also hang signs near the cameras (as well as in other places) to draw attention to the cameras.