Artificial Intelligence Technology Solutions Inc (AITX)

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How Should Your Security Company Measure Total Cost Of Ownership (TCO)?
13 Feb 2018

https://www.securityinformed.com/insights/security-company-measure-total-cost-ownership-co-268-ga-co-1151-ga-co-1645-ga-co-1753-ga-co-2784-ga-co-2803-ga-co-2813-ga-co-2900-ga-co-3093-ga-co-5589-ga-co-6100-ga-co-8173-ga-co-14733-ga-off.1518522061.html?utm_source=SSc%20International%20Edition&utm_medium=Redirect&utm_campaign=International%20Redirect%20Popup&__hstc=216501193.b4d8a39ce104295056e084beb9737a8a.1518537298105.1518537298105.1518630780547.2&__hssc=216501193.1.1518630780547&__hsfp=2637365197

How much does a security system cost? We all know that total costs associated with systems are substantially higher than the “price tag.” There are many elements, tangible and intangible, that contribute to the costs of owning and operating a system. Taking a broad view and finding ways to measure these additional costs enables integrators and users to get the most value from a system at the lowest total cost of ownership (TCO). However, measuring TCO can be easier said than done. We asked this week’s Expert Panel Roundtable to share the benefit of their collective expertise on the subject. Specifically, we asked: How should integrators and/or end users measure total cost of ownership (TCO) when quantifying the value of security systems?
Editor Introduction
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It's good to consider things like interoperability and whether you're investing in technology that makes up a comprehensive solution, but I would challenge integrators and end users to take it one step – maybe even 10 steps – further and consider pushing the envelope a bit in their buying decisions. The security industry is on the brink of a revolution, if you will, as more and more solutions implement advanced artificial intelligence capabilities into their products that act to deliver more value for the investment. In my opinion, this progressive attitude toward enhancements can position end users and integrators as leaders and innovators in their own right, which can attract a different kind of consumer base to make additional capital investments in emerging tech rather than legacy systems. It's an exciting time overall to think about it.
Steve Reinharz
Robotic Assistance Devices, LLC.