In today’s rapidly evolving marketplace, if you’re a dealer or an installer in the security sector, you’re probably facing several difficult challenges. The first of these lies in finding the best way to streamline and consolidate your business. To ensure future success, you might also need to grow your business and develop a stronger, long-term relationship with your customers wherever possible. However, an increasing number of your customers are likely to be young, tech-savvy business owners who are looking for simple, instant security solutions that can be easily updated.
You’re therefore likely to be facing growing demands for these types of solutions, and you will need to offer a better alternative than the DIY solutions that are readily available and are flooding the market. A cloud-based security platform not only meets this need but will also enable you to manage your customers’ requirements and systems more effectively. This will make you more proactive and will increase the opportunities for recurring monthly revenues (RMR).
This is why at Honeywell, we’ve been investing heavily in our own cloud-based security solution, which offers a range of benefits to both dealers and end users.
A great new revenue stream
Our new MAXPRO Cloud platform makes life easier for your customers because it enables them to manage the security of multiple sites via the cloud – from wherever they are. Access control, video and intrusion solutions are all integrated within a seamless, easy to use solution on a single platform. It’s ideal for a small to medium-sized enterprise (SME) such as a retail chain or a property owner with multiple sites or tenants.
But for dealers and installers, the beauty of this solution is that it provides a useful route towards healthy future growth. It’s a subscription-based service, with opportunities for upselling – there’s a range of additional services and integration options that you can offer to your customers that will enhance their security still further. And perhaps even more importantly, you’ll be able to start generating RMR from the platform.
In recent years, RMR has become an increasingly popular and powerful business model that can make a real difference to your bottom line. Its key benefits include the provision of a predictable, regular and steady cash flow and also the fact that it helps to lock in customers, thereby reducing the likely churn rate.
Solutions like MAXPRO Cloud open the door to the development of a services-based approach that moves away from the straightforward, one-off sale and installation that can restrict further sales opportunities. Instead, it provides a platform that enables you to address the needs of small and medium-sized businesses or multi-site customers who are looking for an integrated security system, and those who want a more seamless, simplified cloud-based platform.
Differentiate your business
This type of integrated, cloud-based platform will help to differentiate your business, as it enables you to add value to the solution rather than just providing your customers with a box.
You can make life easier for end users as you’re able to manage the platform remotely. For instance, our solution enables you to reduce false alarms at the customer’s site; or to provide remote assistance if they need help (e.g. in adding a new card to the system or because they’ve lost their key and need a concierge security service).
Installing and configuring an integrated, multi-site system has never been easier, especially with MAXPRO Cloud’s plug and play hardware. There are no ports to open at site, no servers or software to maintain at the customer’s site and no associated IT costs for the customer. It’s easy to programme, with remote programming management and maintenance that will save you money whilst keeping your customers happy.
Build your managed services platform
Ultimately, Honeywell is investing in solutions like MAXPRO Cloud as it’s not just a highly sophisticated yet easy to use security solution – it’s also a very effective way of helping you to build your own managed services platform, which will help you to increase the value of your business. This in turn will enable you to develop a more robust business that is less reliant on changing market demands.
So, cloud-based platforms such as MAXPRO Cloud provide an integrated security solution that enables dealers to benefit from recurring monthly revenues. At the same time, this also helps them to develop a ‘stickier’ and closer relationship with their customers, in which they are providing not just a sale but a valuable service. And that has to be a major step forward in the drive to developing a more profitable and sustainable business.