Commercial Integrator + Security Sales Jan/Feb 2024 - 52

SSI
ROUNDTABLE: RESIDEO CONNECT
'The supply-chain
issue is pretty well
over. There are a few
items that surprise
me that are a little
difficult to get, but,
even in good supply
times, you would have
a backordered item
now and then.'
- Michael Gibson,
president, Mulhaupts
so, from a cash-flow perspective, we have
not been affected. But one of the trends
that we've seen over the last year with our
clients has been an uptick in our payment
plan or software-as-a-service (SaaS)
option for jobs like video surveillance.
It has been utilized much more than the
last few years. Just a few years ago, jobs
ranging from $20,000 to $80,000 would
be paid upfront for an installation. But,
today, clients are more reluctant to do so.
They would rather pay over X number of
months so they can hold onto their cash.
We add interest to the monthly payment,
so it becomes a win-win to get the sale.
Alfano: I agree with Jesse about the
payment plan and offering payment options
to clients. We are a society in which
monthly payments for things is standard
practice, and it makes financing larger
projects more palatable. So, as a company,
we do try to break that down. Instead
of an outlay of, say, $30,000, we offer an
auto-pay scheduled payment plan to help
offset the initial outlay. We also offer
more traditional, long-term financing
through a lending partner. It absolutely
helps to make sure the client doesn't feel
pressured or overwhelmed financially to
get the protection they want.
Security Sales & Integration: Clearly,
RMR is a major consideration for
security businesses, just as it is for
commercial AV integrators. Are you
looking for more of those OpEx opportunities,
as opposed to CapEx op52
Commercial Integrator+Security Sales & Integration | Jan/Feb 2024
portunities? Are you looking for ways
to operationalize this, as opposed to
making more capital sales?
Alfano: As far as continuing that monthly
model, yes, 100%. In most everything we
do, we look at that RMR model. In the past,
we would install a camera system and
there would be no other money made from
that installation, other than the occasional
service call. About five years ago, greensite
started offering monthly maintenance
plans, which offer no-charge service calls,
camera cleaning and remote support. This
has created an RMR stream that wasn't
there before. AI and cloud storage are also
becoming more common, and they provide
another way to generate RMR.
Yarger: I agree [about] a subscription
service. In today's world, everybody wants
to have contact with their services all the
time. It didn't used to be that way. So, now,
everybody wants to see their cameras; they
want to control their access control; they
want to control their alarm - everything
remotely. And all that comes with a cost.
I think that our customers are learning to
accept that. And I think that, instead of objecting
to it, they're adding more and more
devices that they want to see remotely.
Foglio: I think a lease-to-own model, a
lease or any subscription/RMR model is
normalized for our industry. We're taking
advantage of it by offering extended
service plans and remote changes to users
for access control and intrusion alarm.
In addition to providing ROI to the client,
these solutions provide steady RMR,
which is why we are all here.
Alfano: That's perfect - [it's about] the
long run. As you were saying that, I was
thinking, it's three, four, five, six, 10 years
down the road, and they're still paying a
monthly subscription for a service that
we're offering. That's really the best model.
Yarger: And it gives you a stickier customer
- the more you tie them to your service.
Foglio: Yes, it makes clients stickier
when you can show the value within the
plan. I had a client a few years ago who
had outdoor cameras. He had declined
the extended service plan on the front
end, and, after a few years, he requested
a quote for new cameras after saying the
camera images were poor. I convinced
him to have us service them and clean
'We offer an auto-pay
scheduled payment
plan to help offset the
initial outlay. We also
offer more traditional,
long-term financing.
It helps to make sure
the client doesn't
feel pressured or
overwhelmed.'
- Michael Alfano,
president, greensite Security
RESIDEO
RESIDEO

Commercial Integrator + Security Sales Jan/Feb 2024

Table of Contents for the Digital Edition of Commercial Integrator + Security Sales Jan/Feb 2024

Commercial Integrator + Security Sales Jan/Feb 2024 - Bellyband1
Commercial Integrator + Security Sales Jan/Feb 2024 - Bellyband2
Commercial Integrator + Security Sales Jan/Feb 2024 - Cover1
Commercial Integrator + Security Sales Jan/Feb 2024 - Cover2
Commercial Integrator + Security Sales Jan/Feb 2024 - 1
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Commercial Integrator + Security Sales Jan/Feb 2024 - Cover3
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