Corporate Security Spending Loaded with Savings & Efficiency Opportunities

GREENWICH, Conn., July 25, 2011 /PRNewswire/ -- Corporate security is a necessity, of course, but prone to waste, abuse and inefficiency. A new report shows how proper oversight, performance measurement and planning can provide world-class protection, minimize cost and maximize value.

"Corporate security is loaded with savings and efficiency opportunities," says Garrett Seivold, author of the just-released research report Controller's Guide to Corporate Security. "But you have to know where to spend your time and energy."

"Don't waste your time applying for federal or state grant money for security," says Seivold, giving one example. "Our research shows that security professionals rank security grant applications as one of the least effective cost controls."

So what does work best at rooting out waste and inefficiency in corporate security efforts, ask security pros?

Topping the list of most effective security cost-control measures is consolidation of multiple security monitoring control centers. "It's concrete and is a way to eliminate cost while frequently improving security effectiveness," says Seivold. "Consolidation of monitoring service also allows organizations to invest in a single, best-of-breed monitoring location that can more effectively staff around the clock than in multiple locations."

Top Six Most Effective Corporate Security Cost-Control Measures

Source:  IOMA's Institute of Finance & Management, Controller's Guide to Corporate Security

About the Controller's Guide to Corporate Security

Based on exclusive surveys and in-depth interviews with leading security experts, the Controller's Guide to Corporate Security contains 230 charts and tables over 320 pages. The report is divided into 8 sections: Organizing Company Protection, Security Planning, Protection Policies & Procedures, Security Budgeting, Cost Containment, Performance Measurement, Personnel Management and Contract Security Arrangements.

This comprehensive guide will help managers and executives:

• Take control or reduce the amount of money spent on security by examining the strategies other companies are using
• Establish performance measures to spur continuous improvement and identify problems in your security operation
• Determine what technology to use to prepare security department staff to serve a higher business purpose
• Assess and develop security budgets, evaluate ROI and measure security performance
• Determine whether to contract with a security company and if so, how to best choose and develop a relationship
• Develop strategies to allow security personnel to evolve, provide greater value, take on new responsibilities, and better serve company goals
• Use risk assessment techniques to effectively shape a security program
• Set up effective protection policies & procedures to encourage positive security behavior within your organization
• Use the most successful strategies for cutting costs without increasing risk

About the Institute of Finance & Management

For more than a quarter of a century, IOMA's Institute of Finance & Management has provided authoritative guidance for management professionals. In addition to publishing the Controller's Guide to Corporate Security, the Institute publishes Security Director's Report, Controller's Report and other time-tested tools. For more information, please visit http://IOFM.com.

Contact:  

R.D. Whitney
203-930-2705
[email protected]

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SOURCE Institute of Finance & Management