IGZY’S ULTIMATE GUIDE: HOW TO CHOOSE A CCTV CAMERA SYSTEM FOR YOUR BUSINESS
By 2021, over one billion surveillance cameras will be installed worldwide, according to IHS Markit’s latest report.
As India’s leading Video Surveillance-as-a-Service (VSaaS) provider for anywhere, anytime, and any device video surveillance with advanced video analytics for hybrid and cloud-based Video Management Systems (VMS), our team of security experts at IGZY are overwhelmed with frequently asked questions such as:
If you asked any of the above questions or are unsure if you should install a video surveillance system in your organisation, read on to understand the benefits that an intelligent CCTV camera system can provide your business in 2021.
In 1942 German scientists first developed CCTV technology to monitor the launch of V2 rockets. Later on, American scientists used it during the testing of the atomic bomb. Since then, it has evolved into the intelligent security camera technology we know and use today.
CCTV stands for closed-circuit television and is commonly used for video surveillance.
‘Closed-circuit’ means broadcasts are typically transmitted to a limited (closed) number of monitors, unlike television, which is broadcast to the public at large. A CCTV (closed-circuit television) system allows video cameras to monitor any property’s interior and exterior and sends the signal to a monitor or set of monitors.
CCTV camera systems are generally used to detect and deter criminal activities, record traffic violations, but they have many other uses. From government or public buildings, private offices to residential complexes, strategically placed security cameras are used to view events as they occur and capture footage for monitoring later (or in real-time).
Some typical CCTV technology applications include Business Intelligence, Home Security, Crime Management, Disaster Management, City Surveillance, Traffic Monitoring, Behavioral Research, Retail Intelligence, and much more.
In July 2020, Comparitech researchers collated several data resources and reports, including government reports, police websites, and news articles, to get some idea of the number of CCTV cameras in use in 150 major cities across the globe.
Here are their key findings:
Today, CCTV monitoring is one of the most common forms of surveillance. As governments and companies invest more in security networks, over a billion surveillance cameras will be watching the world in 2021, with China accounting for a little over half the total.
Did you know that the Mantis is one of the world’s most powerful CCTV cameras deployed by China’s government?
With its 19 lenses, it can drill down into extraordinary detail and even see you sneeze at 4000 feet.
CCTV technology gave birth to the video surveillance industry, providing many safety solutions for property owners, law enforcement, and business owners globally. The industry has evolved with consumers needs, offering better products with improved performances and capabilities.
With systems available in various price ranges, and with each providing different security levels, CCTV has proven to be one of the most accessible loss prevention and safety monitoring technologies available on the market today.
These relatively economical CCTV cameras have primarily replaced expensive security guards, while significantly elevating the reliability and accountability to near 100% by providing real-time remote video surveillance.
Billions of dollars are lost by businesses every year due to fire, floods, theft, fraudulent claims, and product damage. Whether employees or third-parties are responsible for these losses, you can protect your business, deter theft and injury, and have evidence on hand in the case of an incident.
How? IGZY can help protect your business, your assets, your employees, and much more with comprehensive commercial security systems equipped with CCTV cameras.
Whether your business consists of commercial properties, i.e. office buildings or retail outlets, careful consideration of integrated and expansive security solutions is necessary.
Cameras equipped with CCTVs are easy to maintain and much more cost-effective than many other security solutions, especially hired security guards. CCTV cameras can be placed in strategic locations and do not require many changes to your existing infrastructure.
There are multiple CCTV camera systems to choose from, but some of the main things to keep in mind include the camera resolution, sharpness, angle of coverage, and Infrared availability (for nighttime visibility).
It is also essential to understand that although CCTV cameras are usually installed for video surveillance and discourage burglars and other criminal activity, they can also improve your employees’ efficiency and productivity.
CCTV security cameras’ purpose is to capture video footage, especially in high-risk areas in and around your office, warehouse, factory or building premises. You have two basic security camera options to choose from:
Analog cameras have been around for many years and are still the most common CCTV camera installed today. But, they have basic functionality and store video on-site.
IP (Internet protocol) cameras have the same functions as analog cameras, but with vastly more extraordinary capabilities. IP cameras have higher resolution images, remote zoom and repositioning. You can also view live video footage from anywhere via a computer or smartphone, and receive notifications regarding any peculiar activities your cameras detect, i.e. movement inside your office or warehouse at 2:00 am.
A CCTV camera security system is essential for any type of business – large or small. So it is vital to select the right CCTV camera for the right location and application. Many CCTV cameras are chosen from on the market today, with many different advantages and features resulting in a complex array of various types, styles, and configurations.
Here are nine different types of CCTV cameras that you should know about for your business.
A dome CCTV camera gets its name from the dome-shaped housing that the camera is encased in. While these cameras are relatively discreet in appearance, this doesn’t stop them from deterring criminals as the dome-shaped casing makes it difficult for people to see which direction the camera is pointing and creates an air of uncertainty for thieves or vandals approaching from all directions.
Best used for:
Commercial offices, retail shops, restaurants and hotels because the camera is designed to be unobtrusive, but visible. It allows you to monitor a wider angle of your premises and is considered the best indoor CCTV camera as you can place it at a strategic point to cover all angles of the room.
Dome camera units that allow the camera to pan/tilt/zoom and spin quickly within the housing are often called ‘speed domes.’ Speed Dome CCTV cameras give you the ability to turn the camera. Some cameras have automated pan/tilt/zoom functionality where the camera moves on a timed basis covering a wide area with only one camera.
Bullet CCTV Cameras have a cylindrical, tapered shape, similar to that of a ‘rifle bullet’, often used in applications that require long-distance viewing. They are mostly placed outdoors as their casings are weatherproof and are resistant to sunlight, rain, dirt and dust.
A bullet CCTV camera is usually mounted on the wall or ceiling and designed for capturing images from a fixed location, pointing at a particular area.
Best used for:
You can use bullet cameras effectively in various industries such as warehouses, manufacturing, parking lots, commercial or residential buildings. They record good quality pictures and send out a message to passers-by that your premises are under surveillance. Traditionally, they are the best CCTV cameras for external operation.
C-Mount CCTV cameras are a great option if you wish to adapt the field of vision. Equipped with detachable lenses, they can be switched around to monitor varying distances. C-Mount cameras are usually bulky so, like bullet cameras, act as a visible deterrent to criminal activity.
Best used for:
An ideal camera for observing a stretch of road on the approach to your premises and is popular in the warehousing and logistics industries. Those operating in the restaurant, hotels and manufacturing industries may also choose this camera, due to its reliability in extreme temperatures.
C-mount CCTV cameras have detachable lenses to suit different applications. Standard CCTV camera lenses usually cover distances of between 35 – 40 feet. Therefore with C-mount CCTV cameras, you can use special lenses to cover distances greater than 40 feet.
A PTZ (Pan, Tilt & Zoom) camera gives your security team complete control of what is recorded. The camera lens can pan left or right, tilt up and down or zoom in and out, making it the ideal choice for a security guard or team monitoring a live video feed on-site.
Best used for:
This is the best option for remote viewing. It is prevalent in large retail environments, airports and banks and regarded as the best CCTV camera for business premises that have something of great value to protect, e.g. a bank could program the camera to pan to the vault when it detects movement. Even when the camera is not controlled remotely, it can cover a much larger area and do the same job of multiple static cameras.
These cameras were built specifically to operate effectively, regardless of how well lit their environment is. Through their extra sensitive imaging chips, they can record clear video images that will not be obscured by differing light conditions during daytime and nighttime.
Best used for:
Many CCTV cameras are suited for outdoor use, but the extra sensitive imaging makes this camera unique. The day and night CCTV cameras have the distinct advantage of operating in average or poorly lit environments. While these cameras do not have Infrared illuminators, they can capture clear video images in varying light conditions and the dark.
This camera is ideal for outdoor surveillance applications requiring round-the-clock CCTV monitoring since they function well in direct sunlight, reflections and strong backlight 24/7.
As the name suggests, these cameras were designed to operate optimally in pitch-black conditions using infrared technology, and are more expensive than day/night cameras. Those opting for this camera usually do so because night recording is vital to their business’s security.
Best used for:
If night vision functionality is your goal, then this is the best camera to choose. Therefore, making it the ideal choice if you need ultra-reliable recording in complete darkness, i.e. banks, vaults, gold loan branches, precious gems retail stores, warehouses, manufacturing plants, defence installations, secure government sites, etc.
These night-vision CCTV cameras can see images in pitch-black conditions using Infrared LEDs and are ideal for external conditions where lighting is low to zero.
IP cameras share live footage across the internet so you can easily access images from anywhere. The video’s bandwidth is compressed to make the online feed reliable, and archived footage is stored on Network Video Recorders (NVRs) or security software for later access.
Best used for:
A network or IP CCTV camera is ideal for business owners who are often away from their business sites and on the move. You can view video footage from anywhere in the world, via a desktop, laptop or mobile smartphone.
IP cameras are much easier to install than their analog counterparts as they don’t require a separate cable or power to send images over a longer distance.
Wireless CCTV cameras were created to reduce installation time. If a clean appearance is vital in your industry, wireless CCTV cameras are a great security option.
Best used for:
The camera’s discreet appearance helps them to blend into your interior surroundings and decor. With minimised set up and camera maintenance required, the video footage is transferred via the internet for convenient access.
HD CCTV cameras deliver clear, high-resolution images and unrivalled picture quality. Depending on your budget, they can provide resolutions of 720p, all the way up to 4K. Therefore, there’s no danger that the video recordings will ever appear grainy or distorted.
Best used for:
High definition cameras are beneficial for use in environments where there is an increased risk of theft. Businesses such as banks and casinos usually opt for HD cameras, to ensure visitors to their premises are captured in perfect clarity. The footage recorded provides undeniable identification in the event of a crime being committed.
There are various types of CCTV cameras, but most of those are related to the unit’s application vs the kind of camera.
IGZY provides a wide range of CCTV cameras, i.e. IP, infrared, low light, HD, wireless, day/night, c-mount, bullet, dome, waterproof, etc.), which we select to do the right job in the correct location.
Installing CCTV security cameras on commercial premises is a crucial business security measure to prevent theft and vandalism all year round. However, CCTV surveillance systems powered by remote monitoring services will give you further peace of mind. This allows businesses to focus on their productivity, goods and services without having to worry about what’s going on in or around your area of business, day or night.
However, deciding where to position CCTV cameras requires careful consideration. CCTV cameras are used as a deterrent against damage and theft in your commercial property. Installing CCTV cameras in specific locations can offer peace of mind when you are not on-site.
Today’s surveillance technology offers better imaging for identifying potential threats, but often this is only after the damage has already been done.
Implementing CCTV camera systems alongside IGZY’s remote monitoring service is a preventative measure, providing live camera feeds that alert your security team to unusual movement or suspicious activity 24/7. Not only acting as a deterrent to unwelcome visitors, but our audio announcement warning has also proven effective in discouraging potential thieves and hooligans from proceeding any further into the site, i.e. a bank’s ATM or warehouse.
To help you plan your CCTV surveillance system, we have highlighted some important and commonly active areas as potential installation sites for security cameras.
The reception area of your commercial property may not seem of great importance, but it is a high-traffic area with unknown people regularly entering and leaving during business hours. If your property is facing a main road or street, it’s also likely to be the most common area for trespassers to attempt forced entry to your premises easily. By installing security cameras, you can keep up to date with customers and staff using the site as a walk-through whilst detecting visitors who are acting unnaturally.
As a business, keeping track of who walks in and walks out of your premises and identifying possible trespassers can be resource-intensive. Security cameras positioned at the entrance/exit/emergency doors offer better tracking of who is entering your premises before exiting, along with a clear view of people’s faces – if you need to identify them later.
Visible CCTV cameras at your business entrance can make people aware they are being monitored, thereby reducing the possibility of theft, vandalism or trespassing on your property. However, when installing CCTV cameras next to any door, you should consider how the available light changes throughout the day. Bright light flooding the cameras’ sensors may cause dull or blacked out images, resulting in the person’s face being partially hidden or unrecognisable. We recommended placing cameras above the door and out of reach of visitors, while pointing away from strong light sources or windows, to ensure the best quality images.
Most companies have storage rooms, whether for sensitive documents, housing the server racks, or storing products ready for distribution. By installing CCTV cameras above the door to this room, you can monitor the restricted area, recording who enters and leaves the room and tracking any unauthorised attempts to access that room.
Businesses usually have storage facilities for their products that can be worth millions, thus, providing the perfect target for break-ins and theft. If you want to protect your stored goods, CCTV cameras are ideal for tracking people entering your warehouse, recognising people who may be trespassing or causing damage. Huge warehouse spaces can be costly to monitor in their entirety with security guards. We recommend IGZY’s warehouse security systems with remote surveillance & AI-based cameras backed by a unified IoT platform to reduce the risk of theft, burglary, and ensuring SOP adherence and savings using energy management.
Investing in your business’ security will potentially save you money in lost/damaged products or equipment and reduced productivity when preventing fire, vandalism and theft. Also, having a remote security system in place may contribute to lower insurance premiums.
You can install CCTV cameras in your business premise yourself, however, to ensure you get the best viewing angles and prevent blind spots, choosing a professional installation can save you both time, money and frustration. This will also accommodate any concerns about product warranty and regular camera health checks or your insurance company regarding ample coverage. Battery-powered security cameras are easier for the end-user to install. However, modern comprehensive security solutions run on mains power and must be connected to the internet to take advantage of features, i.e. remote monitoring and alert notifications.
IGZY is a verified partner with several global surveillance hardware and software manufacturers and is happy to discuss options with you to ensure you get the best possible product, service and installation for your commercial property.
People regularly approach our teams with a wide range of questions about keeping their business safe. A common question is whether an analog or digital surveillance system provides better coverage while still being a budget-friendly solution.
Analog CCTV cameras record images to a Digital Video Recorder (DVR), which converts the video to a digital format. The DVR connects to a monitor or router to broadcast through an internal network for remote access to view the video.
Digital CCTV cameras or internet protocol (IP) cameras record in a digital format and don’t need any conversion. The digital data is sent to a Network Video Recorder (NVR) through the existing network and accessed remotely.
Our professional advice – If you’re building your security camera system from scratch, choose a digital surveillance system as they rely on newer, more advanced technology and therefore offer higher image/video quality (among other benefits).
Choosing the right cameras for your CCTV security system is crucial for businesses irrespective of size or industry. With the vast range of cameras and equipment available today, and the varying benefits CCTV cameras can bring to a company, making the right choice is now more critical than ever before. Still, it can be almost impossible to decide which solution is best for your commercial property.
At IGZY, we are proud to be one of India’s leading commercial CCTV camera solution providers, and able to keep your business safe and secure with our proven expertise in the surveillance industry.
Here are pro-tips from our team of security experts on what to look for in a reliable CCTV camera system in 2021:
IP cameras offer a higher resolution than analog cameras. Even the best analog cameras cannot deliver the image quality of digital cameras. At IGZY, our IP security cameras have a minimum of 1 megapixel, which is nearly twice the average resolution of the best analog cameras, making it easier to identify intruders’ physical features or vehicle license plates.
The hassle of wiring is highly reduced when it comes to using IP camera surveillance. Digital cameras only need to be wired to a network switch or wireless network, which will transfer the signals to the Network Video Recorder (NVR). This enables you to install more CCTV cameras without being restricted by the number of ports available on a Digital Video Recorder (DVR).
IP cameras powered by a Power Over Ethernet (PoE) capable network switch removes the need for a separate power source. Installing digital CCTV systems are much more effortless for these reasons.
Other analog wireless devices do not disrupt digital transmissions. Most digital CCTV systems have in-built encryption, preventing unauthorised access to your video recordings. This data is also usually backed up on a redundant array of independent disks (RAID) system, providing you with back up hard drives in case one fails.
Digital cameras typically cover areas up to three times more than analog cameras and more likely to have a zoom function. Not requiring as many cameras to cover your entire business may balance out digital cameras’ higher price.
The remote access IP cameras give business owners peace of mind while out of the office or on holiday abroad. Not only can you view the video footage, but you can also control the camera’s position from a remote location via your smartphone or laptop.
Digital cameras provide more video analytics than analog cameras, including the ability to identify unusual activity and send alerts to your security team. Their ability to read data makes it possible to search for activity in a specific area on the image.
Digital CCTV cameras are superior on all fronts, while analog CCTV systems are now considered outdated security systems.
The security of your commercial property is of the utmost importance. You need to monitor your premises day and night to ensure its safety.
Night vision CCTV is the ability of security cameras to see in low-light or no-light conditions. By utilising Infra-Red, CCTV cameras allow Night Vision to be useful even in the lowest light conditions whilst still showing clear colour pictures during daylight hours.
Infrared LEDs are positioned around the camera lens’s outer edges, which gives the camera night vision. These CCTV cameras turn on their night vision to record and view surveillance video during low light and complete darkness. Night vision CCTV cameras are available in different shapes, such as dome cameras, bullet cameras and PTZ cameras.
Many attempted break-ins and burglaries happen at night, under cover of darkness. To improve your business’s security at night, you can also install motion-sensitive lighting with night vision CCTV cameras. Modern night vision CCTV cameras are motion-sensitive and send real-time alerts when movement is detected, so you’ll know right away if someone is trying to access your property without your permission. But security cameras without night vision cannot see in the dark, so they won’t always be able to detect motion and send you that critical alert to your phone.
Much like an intercom system, a camera with audio/video (two-way cameras) enables your security team to talk from one point to another. The significant difference is that two-way cameras in 2021 offer high-definition digital video and clear audio.
Two-way cameras can easily be installed into existing security systems and require a power source and strong Wi-Fi for operation. They are easy to use and can be controlled via a smartphone app.
Two-way audio security cameras are now becoming increasingly popular for homeowners and businesses. Most surveillance cameras with audio from online-retailers do not meet expectations due to low audio quality and after-sales service. Many built-in microphones and speakers are cheaply made and produce hard to hear and low-quality sound that can hardly deter a would-be thief or intruder.
Another advantage is the flexibility and customisation that is possible. Since the cameras have RCA audio connectors, you can connect any microphone or speaker, and their mounting location is also flexible. Speakers that have built-in amplifiers are required to have loud and clear audio at the camera. Greater flexibility in the microphone and speaker placement eliminates the need to reinstall the security camera several times to find the perfect spot for audible two-way interaction.
You may have heard about Artificial Intelligence (AI), Machine Learning (ML), and Deep Learning (DL). But what do those terms mean, and how do they apply to Video Surveillance?
Artificial intelligence (AI) gives CCTV surveillance systems the brains to analyse live video with no human intervention.
Surveillance systems that include video analytics analyse video footage in real-time and detect abnormal activities that could threaten an organisation’s security. Video analytics technology helps security software learn what is normal to identify anything strange, and potentially harmful, behaviour that a human alone may miss.
According to Forbes, companies can use existing surveillance technology along with internet-enabled data collection and cloud-based ML processing for a range of uses and applications to enhance situational awareness.
These systems perform real-time monitoring to detect objects, object attributes, movement patterns or behaviour related to the environment. We can also analyse historical data to mine insights and trends. Typically, we can analyse video content in two ways: in real-time (by triggering alerts for specific events and incidents that unfold in the moment) or after processing.
While traditional CCTVs ran the processing locally, an AI-enabled system can embed the processing in the cameras themselves, a strategy known as edge processing. With processing costs coming down in recent years, we’ve seen several cameras with real-time processing capabilities. The industry best practice is, whenever possible, to go with real-time processing on the cameras and the forensic analysis functionalities centrally in the cloud.
AI-based video analytics also create business efficiencies and offers non-security-related insights for companies, e.g. in the retail industry, store owners using surveillance cameras with video analytics can spot shoplifters and alert security personnel to intervene in real-time. AI video analytics can measure hotspots, visitor flow, dwell time and product display activity.
Smart cities are also leveraging intelligent sensors for data capture and organising system response to incidents as they unfold and improve traffic flow processes.
Artificial Intelligence at its best, ultimately, allows human oversight to take a backseat to the fine-tuned capabilities of intelligent video analytics.
Machine Learning (ML) has changed how surveillance video is viewed and how it can be leveraged to increase security and operational efficiency. ML minimises the need for people to monitor every video surveillance feed and recorded video footage. It allows security teams to respond to situations, review footage, and uncover trends to utilise video footage more effectively. This has wide-ranging, positive impacts on both security and operations for local governments, law enforcement agencies and business institutions, including transit hubs, retail stores, event venues and others.
Behavioural analytics is a subset of AI. Bringing together emerging technologies, deep learning and the increase of data that make up today’s datasphere, behavioural analytics can recognise dangerous situations based on the detection of specific human postures, i.e. a cashier’s raised arms or a person crouching near an ATM.
You can also use behavioural analytics to ensure workplace productivity and safety, e.g. tracking whether employees are at their workstations during business hours or if a person is sprawled on the floor needing immediate medical attention. Some new-age software can even detect a potential shooter in real-time, transmitting instant alerts to first responders to minimise the public’s risks.
The adoption of behavioural analytics will only grow in the future. In the meantime, behavioural analytics has increased awareness of AI-fortified surveillance systems’ value and their benefits to enterprises across several industries.
Geofencing is a tech feature that utilises your location to trigger actions and is available on modern, high-tech smart home and office security systems. While many government-run facilities and corporations use geofencing to maintain high security, you can also use it to protect your commercial property or home. The technology is intelligent enough to operate on its own, so you can take time to focus on the more important tasks in your life, like work and family.
Using this system, you can choose a location, distance, and various actions set up by security professionals. The distance and location work together to define a perimeter, or fence, around a set point, i.e. home or office. Then, the system’s mobile app continually monitors your location. When you reach the virtual fence, it prompts a transmission. This signal instructs your smart home or office security system to initiate the desired actions. This works for departing an area, such as your workplace, or arriving at a location, such as your home.
Geofencing is generally used for security purposes, but you can also take advantage of the technology to save energy and do various other tasks, e.g. when you leave for work in the morning, you don’t have to go through the hassle of arming it. As soon as you move out of the perimeter, it will activate and lock your home. If anyone steps through that perimeter during the day, it will assume that the person is an intruder and sound the alarm and send you a text message or email. Recent geofencing capabilities can also set your thermostat to a specific degree, turn off the lights and lower the window shades.
Geofencing lets you create an invisible fence around your business or residential property that arms your alarm system to work whenever a person crosses it or steps outside of it.
With the steady rise of connected devices via Internet-of-Things (IoT) globally, geofencing works with various components to make smart home and office automation easy and comprehensive. Some of the most popular smart devices you can control with geofencing include:
These can be controlled together or separately to create maximum flexibility, and ultimately, make your life easier and safer.
Suppose you travel often and need to stay connected to your surveillance system while away from the office, you can easily access the IP cameras from your iPhone, iPad or Android devices via a secure mobile app. You can get security alerts on your phone, making it easy to watch live video, review recorded videos, and manage your system’s settings from anywhere.
Whether you’re monitoring your office after hours, getting alerts that motion was detected at your warehouse site, or checking in on your home from across the world, a quick look at the live camera feed lets you know what’s happening in your absence.
When a CCTV camera identifies something of interest, a video recorder, i.e. DVR or NVR enables you to go back and review it. However, recording footage 24/7 will take up a lot of storage space. Programming your cameras to record only during specific times of the day or when they detect movement is an excellent way to go.
Digital Video Recorders (DVR) are the modern replacement for analog recorders that used videotapes. DVRs usually capture footage from analog cameras in a digital format at the desired resolution and frames per second (fps). When the hard disk reaches its storage capacity, new images will record over the oldest footage first.
Network Video Recorders (NVR) function like DVRs, but they’re compatible with digital or IP cameras. The NVR and cameras connect via a network switch or router and even allow easy access to the footage on an NVR via a web browser or mobile app.
We recommend surveillance-grade hard disks for your DVR or NVR. They are built with more durable components than regular computer hard drives to run 24/7, if necessary.
According to Wikipedia, a video management system, also known as video management software or a video management server, is a component of a security camera system that in general:
A VMS can be the software component of a network video recorder and digital video recorder. In general, a VMS tends to be more sophisticated and provide more options and capabilities than a packaged NVR device.
Due to improvements in technology, it is necessary to distinguish between a VMS and the built-in features of modern network-based security cameras. Many modern network cameras offer internal capabilities to record and review video directly via a web browser and without using a VMS. However, a camera’s built-in web interface is typically exclusive to the camera itself and does not usually provide a shared access capability across other network cameras.
The standard features of a video management system include:
Cloud-based security cameras are a highly scalable solution that can be applied across all types of enterprise-level businesses, providing you with the flexibility to accommodate a growing business.
CCTV cloud storage is a modern service that provides commercial and domestic customers with a variety of secure online storage options. It enables users to stay compliant with laws and regulations and simplifies retrieving video information, making it a time-saving management scheme for many.
CCTV cloud backup storage uses the internet to keep all of your cameras recorded data in one place and off-site so that it’s safe, secure and easy to find.
ROI on security can seem complicated and somewhat difficult to quantify, but the hidden benefits certainly exist and may be easy to overlook, since many of the benefits are intangible.
There is often a question of how you calculate your security cameras’ ROI to justify the price. An easy way of calculating this return is figuring out how much some incident might cost you. Suppose those incidents are a theft, some liability (customer or employee issue) or a fire that could destroy your manufacturing plant or warehouse. In that case, this can be reasonably easy to calculate.
Maybe one of these incidents every year cost an average of INR 10,00,000 per incident when you factor in all costs, i.e. time to investigate, loss of merchandise, loss of reputation, legal fees, etc. If a security system saves you that incident cost, it’s reasonably easy to justify a video security system’s price.
Think about the connection that can be made between CCTV camera footage and claims for Workers’ Compensation. The usual cause for installing security cameras is to prevent theft or damage of goods, that cause inventory shortages and loss of income.
However, cameras can also provide forensic evidence should an accident or injury occur in your workplace. This recorded proof can help business owners determine if a Workers’ Compensation claim is justified and show you how you can prevent future injuries.
Before 2010, The Employee’s Compensation Act, 1923, was known as Workmen’s Compensation Act in India. The Central government has changed the amount of wages to be considered when calculating compensation to workers under the Employee’s Compensation Act 1923 vide notification S.O.71 (E) dated January 3, 2020. The amount of wages considered previously for the calculation of compensation was just Rs. 8,000. Now, it will be Rs. 15,000, according to the notification by the Ministry of Labour and Employment.
Keeping in mind the enormous financial losses that can occur due to false claims (not even including lost productivity and other costs), you can quickly see how you can justify a security system’s cost.
CCTV cameras and security systems offer business owners many more benefits.
Modern CCTV camera systems can give business owners’ unique insights and analytics into their businesses. Some systems can determine how many customers enter the store, how long they stay in a particular area, and which aisle or areas they browse in. This data can then be used to boost sales and productivity levels while reducing overall costs.
Human security guards are a significant business expense, whether outsourced using a third-party provider or directly employed by your company. Businesses can quickly recover the cost of a well-designed video security system by reducing or eliminating security-related labour expenses and fewer incidents of theft, vandalism, and suspicious injury claims.
Losses, whether from theft, shrinkage, incidents, or fraudulent claims, cut into profit margins and reduce productivity. An intelligent surveillance system helps reduce losses while also mitigating liability, verifying compliance with regulations, and reducing insurance premiums. The return on investment (ROI) produced by a modern security camera system is substantial.
In 2021, where trust, reliability and transparency are more important than ever, businesses are increasingly assessing solutions and vendors beyond traditional return on investment calculations. While hard to measure, aspects such as the sustainability, aesthetics, safety, diversity, competence and responsiveness demonstrated by vendors become part of the equation.
IGZY helps drive ‘Phygital Transformation’ using People, Processes and Technology across top brands in Banking, Financial Services, Insurance, Warehouses, Retail and QSR among other enterprises.
Learn more about our real-world case studies:
Whether your goal is to deter break-ins and theft, prevent vandalism, monitor traffic, or keep an eye on employees, CCTV can significantly benefit your business. There are many benefits to an intelligent CCTV camera system, but the downside can be the sheer amount of choice and flexibility, leaving most business owners confused.
It is crucial to talk to an experienced and trusted channel partner like IGZY. We understand the importance of CCTV camera security in business and will help you lower your existing costs while ensuring that our robust video surveillance system never lets you down.
Leading brands in India i.e. ICICI Bank, Airtel Payments Bank, Vodafone, Myntra, MJ Logistics, etc., trust IGZY to keep their businesses safe 24/7.
Our advanced CCTV remote monitoring services guarantee that you have access to the latest incident reports and video footages, wherever you may be present.
Our intelligent security systems are equipped with remote e-Surveillance and AI-based cameras backed by a unified Internet of Things (IoT) platform that helps in reducing the risk of theft, burglary or fire, along with ensuring SOP adherence.
We are passionate about keeping your business safe and secure, which is why our competent team of engineers and security specialists design bespoke surveillance systems tailored to every business environment in India.