5 min
The banking, finance and insurance sectors are no strangers to cloud technology and its adoption in the industry is gathering pace. In fact, a 2022 survey by McKinsey reports that 54% of financial service leaders aim to move around 50% of their workloads to the public cloud within the next five years.
Through cloud technology, financial services organizations are improving customer experiences with CRM solutions and chatbots, saving data costs with access to flexible pricing models and improving the collection and security of customer information to help prevent cyber security threats.
But how exactly are they reaping the rewards of the cloud in the context of visitor management?
By overcoming resistance to change and perceived cost concerns
A common objection that acre hears from finance sector organizations is that implementing a visitor management system (VMS) is considered to be a costly expense. But this is typically because the actual benefits that are derived from a VMS in place are often not fully understood.
Key to any VMS procurement decision is a consideration for the potential cost savings and increases in productivity to be gained. These are not always easy to determine, which is why acre works closely with organizations at the outset to demonstrate how that value is delivered over the long term and the return on investment that follows as a direct result of having the right VMS in place.
By enabling safer visitor experiences
As an industry already dealing with various high security risks, financial services organizations must also put the safety of visitors and on-site personnel at the center of its procedures.
Those using a cloud-based visitor management systems (VMS) can instantly register visitor details with contactless check-in/check-out capabilities while providing customizable and branded ID badges with no risk of human input errors. A VMS can also configure access permissions using biometrics such as fingerprints and face IDs.
This ensures restricted areas are only open to those with authorization. Names can also be checked against integrated watchlist screening software and security approval workflows to automatically notify hosts of high-risk visitors.
By introducing streamlined compliance processes
Financial organizations must adhere to a variety of strict policies and regulations, including customer due diligence, data protection and collection, and anti-money laundering. But ensuring the correct signatures and information are acquired from visitors in relation to all compliance rules is complex and time-consuming.
A VMS allows visitors to digitally sign documents such as NDAs, health and safety policies, and sector-specific documentation. This ensures all compliance boxes are ticked, and because the data is so readily available in the cloud, typically centralized data management, auditing processes are significantly improved too.
By enhancing efficiencies
We all know that time is a precious commodity, and in an era when everything must be done yesterday organizations are increasingly seeking to automate many of their day-to-day functions. By automating visitor check-in processes, cloud-based solutions minimize paperwork and eliminate the need for manual data entry. This streamlines operations, allowing staff members to focus on core business tasks and improve overall productivity.
By gaining valuable data insights
Banks, insurance companies and finance firms already know the value of cloud-based data and its capability to shape future decisions and procedures. With a cloud-based VMS, data is collected in real-time, allowing for instant searches based on criteria such as the type of entry used, departure and arrival times and access authorization levels. When analyzed or simply viewed via dashboards, this data leads to valuable insights, for example, in helping security managers spot vulnerable zones are on the premises, produce visitor logs and have historical information on which to consider security decisions.
By offering scalability
One of the key benefits for any industry is the scalability opportunities offered by cloud architecture. With a centralized database and no need for physical on-site servers, upscaling costs are lowered, and maintenance is reduced. This flexibility also means international financial services organizations can roll out their VMS across all locations, ensuring compliance with local data regulations, and maintaining convenient remote access to the system at all times.
By improving visitor relations
Like all organizations, banking, insurance and finance firms need to give a positive first impression to contractors, clients, candidates and other visitors. A cloud-based VMS supports such organizations through the provision of digital tools, such as instant notifications that alert hosts to their visitor’s arrival via SMS or email. This also serves as a platform where hosts can update visitors before they greet them.
By driving cost savings
It can be difficult balancing the need to minimize costs whilst increasing security at the same time. Yet that is precisely what a VMS enables organizations to achieve. Cloud-based visitor management eliminates the need for dedicated on-premises hardware and software infrastructure. This in turn reduces upfront costs and ongoing maintenance expenses in addition to enabling scalable solutions that can adapt to your organization's evolving needs.
Cloud-based Visitor Management Systems not only improve on-site security, visitor experiences and compliance processes but with highly accurate and accessible data, they also provide indispensable real-time insights and valuable opportunities for strategic security planning.
About acre security
Acre security is a global leader in the delivery of resilient digital and physical security solutions for every business. Keeping your people, premises, and data safe is as important to us as it is to you. We protect your valuable assets with a single portfolio of cloud, on-premises, and hybrid solutions.
Acre security offers a broad array of solutions including access control, visitor management, intrusion, workplace, transmission, and connectivity solutions – all hosted in a way that suits you. Since 2012, we’ve focused on advancing security initiatives to deliver tailored, robust, and future-proof solutions to tens of thousands around the globe. Working across banking, education, healthcare, pharmaceutical, retail, and more, we give our customers peace of mind that their data, offices, and employees will stay safe.
Contact us today to discuss how we can help you on your security technology journey.
