The start of the new year offers a clean slate and the opportunity to evaluate the status of your business. As a business owner, you should put a strategy in place for ensuring that your company’s security processes are in line with current best practices. However, there are some steps that every business can take right now to secure its systems and processes against unwanted risk.
Consider Secure Off-site Record Storage
Off-site record storage offers unique security benefits you might not otherwise be able to replicate in your office. The facilities often offer multi-step security protocols, locks, security cameras, 24/7 surveillance and secure, discreet transportation of assets – all of which are done by trained industry professionals. This process ensures that documents and information are kept private. A few reasons to implement this best practice includes:
- Increased security
- Cost efficiency
- Ensures compliance
Learn more about the benefits of off-site record storage.
Evaluate Existing Partners, like Cash-In-Transit Providers
While some partners are meant to be a part of your business operations for the long haul, others are meant to get you from Point A to Point B. It may be time to evaluate if you need to scale or upgrade partnerships to take your business to the next level. This is especially true for cash-intensive businesses. Your cash is your greatest asset and your greatest risk. Having the right partner in place to securely pickup, transport, track and deposit your money is crucial to business survival. When evaluating your current partnerships, ask yourself these questions:
- How quickly will my cash be credited to my account, and do I have the option of provisional credit?
- Am I being provided accurate and timely reporting?
- Are there other services that could be included to make this relationship more lucrative?
- Do I have full access to my assets’ whereabouts and on-demand verification?
- Do I feel confident in their qualifications and service to-date?
Whether you’re currently in the market for a CIT provider or just want to evaluate your existing one, here are some things to look out for when entrusting your assets with a third-party vendor.
Utilize Smart Safes and Cash Recyclers
Smart safes combine the need for a traditional, secure solution for cash storage with the technology of modern cash management software. By combining the two, business owners can gain peace of mind knowing their money is secure while also gaining valuable insight into the cash management process from start to finish. Here’s how they can improve your cash management operations and reduce overall risk:
- Real-time cash insights
- Accurate reporting and forecasting
- Reduce labor costs and save time
- Lowers risk and the possibility of theft with limited access
Learn more about how smart safes and cash recyclers can help your business improve efficiency and reduce risk.
Audit Facility Security Systems and Processes
Auditing is a critical part of ensuring that your facility’s security systems and processes are working effectively. It can be performed annually, but it should also be done by an independent party with expertise in auditing business practices.
A third-party partner can better identify weaknesses in your processes as well as take a broader look at your cash management systems, asset storage, handling procedures and more. They are also often experienced in maintaining compliance for applicable laws and regulations, such as those governing anti-money laundering. An audit now will help you identify areas of improvement so they don’t impact operational efficiency down the road.
If you’re ready to take a deep dive into your business’ security protocols and ensure you’re doing everything you can to protect your assets and employees, OSS is here to help. Our knowledgeable team is up-to-date on all federal and local regulatory requirements for high-risk industries and can help you create a custom security plan that fits your facility’s needs.