Maximizing Your Security Budget This Year


Maximizing Your Security Budget This Year

With inflation rising and rumors of a recession haunting boardrooms all over the country, smaller security budgets are expected to be a reality for businesses in 2023. As a result, companies will tighten their belts to adjust to the changing economic landscape.

If you’re responsible for managing your company’s security funds this year, your biggest task will be maximizing your security budget while still keeping your business safe. With a bit of pre-planning, analysis, and prioritizing, your security budget may look smaller, but it will feel as strong as ever.

Security budgets shrink as crime increases

Security budgets everywhere are expected to shrink for the same reason that crime is expected to increase in 2023: inflation. Inflation and crime go hand-in-hand. As inflation squeezes the American economy, it contributes to an increase in property crime and theft rates.

“75% of businesses say security budget cuts will increase organizational risk.” - JumpCloud

With your business at higher risk for theft and property crime than ever before, it is the worst time to cut your company’s security budget. But with inflation on the rise, as well as supply chain issues and economic uncertainty continuing, cuts will likely be inevitable.

With a smart security solution, you can still keep your business safe, on a smaller budget. Here are some tips to optimize your security budget in 2023.

1. Consider what’s working and what isn’t working

When it comes to any kind of budgeting, the first step is to look at what money is “well spent” and what is wasteful. Are these areas where you have room to update, consolidate, or streamline your security processes to decrease spending? In terms of your security budget, opportunities for streamlining can include:

  • Eliminating a security guard (or guard service) with a high salary (or fee) and replacing it with a lower-cost system that produceså the same or better results. Ideally with less human error.
  • Replacing camera systems that need constant, expensive updates with a security camera subscription service that’s easier to budget for.
  • Replacing fencing and fence enhancements like the barbed wire that does little to deter thieves and costs money to repair after every breach with an electric fence that keeps intruders out 24/7.
  • Rethinking inefficient processes such as employees spending hours on the clock moving high-risk cargo and equipment in and out of your warehouse every night with more efficient perimeter security.

2. Create a culture of security

Security systems aren’t just technology. Creating a culture of security in your company can help prevent theft, errors, and inefficiencies that can make your business more vulnerable to threats. Make sure to train your people on security best practices, security threats to watch out for, and what to do if they spot a threat.

3. Assess risk by probability and impact

As crime trends change, your security spending should adapt to keep your business safe. Make sure your security team stays up to date with what aspects of your business are at the greatest risk.

For example, in 2023, catalytic converter theft is expected to continue rising, so you may want to invest in systems to protect your property.

Also, think about what crimes would cause the greatest amount of damage to your business - and not just in terms of repair costs. It's important to consider the indirect consequences, for example, the impact an incident that involves your customer's property, or worse, their well-being would have on your business’s reputation.

Proactive is better than reactive, every time

In our years working with security teams across a number of industries, we’ve seen that teams who are proactive about threats rather than relying on reactionary security spending are best able to maximize their security budgets.

Ready to get proactive about maximizing your security budget in 2023? Request your complimentary Threat Assessment today. AMAROK’s security experts will assess your current security system, identify hidden threats and vulnerabilities, and help you create a security plan that protects your business.

Want to hear from other security industry experts about how a proactive security strategy can ward off potential intruders, protect your employees, reduce your business’s overall risk and improve business operations as a whole? Download our Proactive vs. Reactive Security Expert eGuide.


  • CISA Kicks Off 20th Anniversary of Cybersecurity Awareness Month

    CISA Kicks Off 20th Anniversary of Cybersecurity Awareness Month

    The Cybersecurity and Infrastructure Security Agency (CISA) recently announced the kickoff of the 20th Cybersecurity Awareness Month. Throughout October, CISA and the National Cybersecurity Alliance (NCA) will focus on ways to “Secure Our World” by educating the public on how to stay safe online. Read Now

  • Cybersecurity Awareness Month: Top Five Action Items to Elevate Your Data Security Posture Management and Secure Your Data

    October is Cybersecurity Awareness Month, and every year most tips for security hygiene and staying safe have not changed. We’ve seen them all – use strong passwords, deploy multi-factor authentication (MFA), be vigilant to spot phishing attacks, regularly update software and patch your systems. These are great recommended ongoing tips and are as relevant today as they’ve ever been. But times have changed and these best practices can no longer be the bare minimum. Read Now

  • Boosting Safety and Efficiency

    Boosting Safety and Efficiency

    In alignment with the state of Mississippi’s mission of “Empowering Mississippi citizens to stay connected and engaged with their government,” Salient's CompleteView VMS is being installed throughout more than 150 state boards, commissions and agencies in order to ensure safety for thousands of constituents who access state services daily. Read Now

  • Live From GSX: Post-Show Review

    Live From GSX: Post-Show Review

    This year’s Live From GSX program was a rousing success! Again, we’d like to thank our partners, and IPVideo, for working with us and letting us broadcast their solutions to the industry. You can follow our Live From GSX 2023 page to keep up with post-show developments and announcements. And if you’re interested in working with us in 2024, please don’t hesitate to ask about our Live From programs for ISC West in March or next year’s GSX. Read Now

    • Industry Events
    • GSX

Featured Cybersecurity

New Products

  • A8V MIND

    A8V MIND

    Hexagon’s Geosystems presents a portable version of its Accur8vision detection system. A rugged all-in-one solution, the A8V MIND (Mobile Intrusion Detection) is designed to provide flexible protection of critical outdoor infrastructure and objects. Hexagon’s Accur8vision is a volumetric detection system that employs LiDAR technology to safeguard entire areas. Whenever it detects movement in a specified zone, it automatically differentiates a threat from a nonthreat, and immediately notifies security staff if necessary. Person detection is carried out within a radius of 80 meters from this device. Connected remotely via a portable computer device, it enables remote surveillance and does not depend on security staff patrolling the area. 3

  • HD2055 Modular Barricade

    Delta Scientific’s electric HD2055 modular shallow foundation barricade is tested to ASTM M50/P1 with negative penetration from the vehicle upon impact. With a shallow foundation of only 24 inches, the HD2055 can be installed without worrying about buried power lines and other below grade obstructions. The modular make-up of the barrier also allows you to cover wider roadways by adding additional modules to the system. The HD2055 boasts an Emergency Fast Operation of 1.5 seconds giving the guard ample time to deploy under a high threat situation. 3

  • Luma x20

    Luma x20

    Snap One has announced its popular Luma x20 family of surveillance products now offers even greater security and privacy for home and business owners across the globe by giving them full control over integrators’ system access to view live and recorded video. According to Snap One Product Manager Derek Webb, the new “customer handoff” feature provides enhanced user control after initial installation, allowing the owners to have total privacy while also making it easy to reinstate integrator access when maintenance or assistance is required. This new feature is now available to all Luma x20 users globally. “The Luma x20 family of surveillance solutions provides excellent image and audio capture, and with the new customer handoff feature, it now offers absolute privacy for camera feeds and recordings,” Webb said. “With notifications and integrator access controlled through the powerful OvrC remote system management platform, it’s easy for integrators to give their clients full control of their footage and then to get temporary access from the client for any troubleshooting needs.” 3