Four Key Takeaways from the ASIS Global Security Exchange
What we heard at the leading event for security contractors.
For TEAM Software, every fall is packed with trade shows for our key industries — janitorial and security — where we get to connect with customers, prospects, peers and industry leaders in person. These interactions are crucial to strengthening our relationships, extending our reach and broadening our understanding of the key challenges service contractors face today. Last week, TEAM sent a cross-functional team of 20 employees to Las Vegas for the Global Security Exchange (GSX) (formerly the ASIS Annual Seminar and Exhibits) where all facets of the security industry were brought together for one powerful, global event. As in years past, what we learned at the event has informed and validated the direction we’re going with our software products and services as we build our roadmap for the future.
Here are our key takeaways:
Q by TEAM Software is hitting the mark.
We introduced Q, our new product for small security contractors that’s in beta, at GSX, and our team received a ton of positive and insightful feedback to help determine future priorities and features in the product. Designed to help direct, set and track the operations of a distributed workforce, Q’s development is based on security industry research and TEAM’s 30 years of industry focus. The product addresses the real challenges small security contractors face managing guards in the field, gaining visibility into site operations and keeping customers happy. Q is just the start of the future of our new product offering, and overall, the vibe was positive.
“We got a lot of great feedback on Q that really validates what we’re doing is hitting the mark. Everyone was very excited about the product vision,” said Ryan Hansen, TEAM Product Owner for Q. “We even welcomed a few new beta customers onboard as we prep for launch in January.”
The ability to manage and engage teams sets apart good security firms from great ones.
The challenge of managing a distributed guard workforce was a recurring theme we heard throughout the show. Whether high-security facilities, event security or more routine property security, guarding firms must master the nuances and complexities of managing a distributed security workforce across multiple sites. Handling call-offs and no-shows effectively to keep shifts filled. Preventing over time before it happens. Keeping up on labor and industry compliance. Delivering site instructions to guards and taking action when the unexpected occurs. Recruiting, onboarding and engaging. Those are just some of the challenges security contractors must juggle to maintain service level agreements and keep customers happy. Of course, technology plays a starring role here. Great guard firms have security management software that can help with those needs, including on-the-go scheduling solutions to fill shifts on the fly with guards who comply with post requirements and won’t cause overtime, like eHub and eHub Mobile.
Mid-market firms have lots of growth opportunity.
Unless you’ve been under a rock, you know that merger and acquisition activity in the security industry is rampant, with large companies growing even larger. This leaves growth opportunities open for mid-market security firms who can effectively manage razor thin margins, high labor costs and compete with fierce price-based competition. With these market conditions, understanding profitability at a micro level is more important than ever. This type of insight is vital to controlling costs, protecting margins and getting a true picture of the business’s financial performance. Mid-market security contractors who can achieve this level of insight can cut operational costs, find the secret sauce and replicate it across their portfolio. Holistic, industry-specific software can help.
Customers are excited about TEAM’s future.
We recently announced that Accel-KKR made a strategic investment in TEAM, and the consensus from the security customers we caught up with is they’re looking forward to what lies ahead. The partnership gives TEAM the ability to enhance product strength, expand offerings and deliver more value faster — all benefits for our current customers. TEAM’s current leadership remains in place as well to best support business continuity, strategic objectives and maintain the strong security industry expertise we’ve cultivated over the last 30 years.
“This partnership is the next great chapter of TEAM’s story,” said TEAM’s CEO John Leiferman upon announcement of the investment. “We look forward to the growth opportunities ahead and to leveraging Accel-KKR’s resources and network to help us define what’s next.”