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4 Ways Biometric Technology Can Improve Your Bottom Line

If you’re ready to boost security for your business while improving your bottom line, biometric technology could be the solution you’ve been looking for.

Biometric technology uses people’s unique physical or behavioral characteristics (like fingerprints, face scans, and voice recognition) to verify their identity and provide access.

Since access is granted by biological characteristics rather than passwords or smart cards (which can be easily duplicated or forged), accuracy is guaranteed and security threats are eliminated.

Now that you know the basics of biometrics... let’s look at 4 ways biometric technology can benefit your bottom line:

  1. Reduces losses
  2. Eliminates time and attendance fraud
  3. Improves efficiencies and decreases operational costs
  4. Can be easily implemented

In this article, we’ll go over the advantages of biometrics in greater detail, so you can decide whether or not this innovative technology is right for your business.

Want a professional to assess how biometrics can be integrated into your business? Contact Richmond Alarm. With over 70 years of experience providing custom security solutions for businesses across Virginia, our professionals can help show you how biometric technology can help boost your store’s security, improve your bottom line, and more.

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The benefits of Biometrics

1. Reduce losses

It’s hard enough to grow a business, but even more so if you’re dealing with theft. Biometric technology helps with security and accountability - fighting against both external and internal threats.

With keys or common card systems, employees can easily gain access to managers’ keys, subsequently gaining access to cash and stock rooms. By attaching biometric readers to POS systems or rooms containing high-value items, you can limit access. It’s one of the quickest and most cost-effective methods to significantly prevent and decrease employee theft and losses - since all activity logged through a biometric security system connects personnel with specific actions or events.

2. Eliminate time and attendance fraud

When it comes to your business, time is money. Every second of an employee’s work hour should be productive and properly accounted for. If you want to protect your bottom line, preventing time and attendance fraud is paramount.

If credentials (cards, fobs, and badges) are used to punch in/out of a time clock, employees can easily deceive their employer by having coworkers punch in for them, a term known as, “buddy punching.” Depending on the size of your workforce, installing biometric time clocks can save employers thousands of dollars. If fingerprints are required to clock-in and out, employees must be physically present, which will eliminate “buddy punching” and time theft.

Biometric clocks can also help reduce payroll error and boost productivity.

3. Improve efficiencies and decrease operational costs

Replacing worn-out or lost credentials can be costly, as is calling helpdesks to recover forgotten passwords and PINs. Biometric systems simply don’t have these expenses.

Biometric security systems add convenience for both those using them and those managing them. Using biometric identification is easier than remembering passwords or being required to carry a badge or identification card on their person at all times. These systems also function very quickly and can identify an employee or visitor in a matter of seconds. This helps keep productivity steady, while also keeping your business secur

4. Easy implementation

Biometric security systems are designed to provide accurate results with minimal effort. With the right security system provider, the installation of a biometric security system is simple and manageable with uncomplicated, straightforward training.

The easiest type of biometric technology to implement from a hardware, software, IT support, and overall cost standpoint is fingerprint biometrics. These biometric systems can be easily implemented in a range of areas, such as entrances and exits, doorways to high-security areas, and more.

Ready to upgrade your home security system with Richmond Alarm?

Lower your risk of unwanted breaches and save time and money with Biometric Technology. Schedule your home security upgrade to LTE connectivity with Richmond Alarm. Just request your upgrade by clicking below or call us at 1 (800) 759-5151.

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