Next-generation video surveillance in Singapore key to SMART Nation growth

Next-generation video surveillance in Singapore key to SMART Nation growth
50 percent of retail businesses in Singapore to upgrade existing systems in next 12 months, creating demand for intelligent video surveillance solutions despite challenging economic environment


Singapore, August 3, 2017-- Milestone Systems, the open platform company in IP video management software (VMS), today unveiled the findings of Video Surveillance Solutions in Singaporea research study commissioned by Milestone Systems. The study revealed that while satisfaction of video surveillance continues to remain high, few SME retail firms are fully taking advantage of intelligent video solutions, beyond basic functions such as surveillance today.

92 percent of surveyed retail businesses are satisfied with their current video surveillance solutions, with more than 50 percent of businesses recognising basic benefits of video surveillance for security (96 percent), live recordings (61 percent), and entry and exit logs (53 percent). Despite this, video surveillance is still only seen as a necessary business cost, rather than a tool which can help optimize business processes to drive growth. Just under half of businesses surveyed (47 percent) were unable to assess the true benefits of video surveillance solutions and how it has improved staff productivity or profitability, but merely view video surveillance as a measure against security threats. Organisations, in particular, remain unaware of additional functions such as facial recognition and heat mapping, that can help improve operational efficiency by generating a strategic overview of their processes and/or customers.

Intelligent video surveillance will be the key to retail businesses surviving the disruption caused by bigger, e-commerce players. Improving technology, layered with analytics, will help companies to upgrade capabilities to combat productivity challenges while expanding their customer base.

“Video surveillance is still seen as a deterrent to threats, not as a business enabler. With the retail industry facing a productivity crunch and operating in diverse and complex environments, it is important to embrace technology that can help them to leverage the full potential of video beyond surveillance to achieve their long-term business goals”, said Benjamin Low, Vice President of Asia Pacific, Milestone Systems. “Businesses have valid concerns when it comes to the adoption of video surveillance solutions, and there is a need to educate businesses on the various benefits of video surveillance. As technology continues to develop in the Asia Pacific, video surveillance will play a large part in helping organizations optimize their business processes.”

Using video management solutions, the retail industry can continue thriving in an innovative and vibrant economy amidst rapid technological change. 

About Milestone Systems
Milestone Systems is a global industry leader in open platform IP video management software, founded in 1998 and now operating as a stand-alone company in the Canon Group. Milestone technology is easy to manage, reliable and proven in thousands of customer installations, providing flexible choices in network hardware and integrations with other systems. Sold through partners in more than 100 countries, Milestone solutions help organizations to manage risks, protect people and assets, optimize processes and reduce costs. For more information, see the corporate site: www.milestonesys.com. For news and viewpoints from the Milestone community, visit The Milestone Post.  

About Milestone Video Surveillance Benchmarks survey:
100 key IT decision makers from SMEs within the retail sector were polled to understand perceptions, uses and investments into video surveillance systems. Singapore SMEs with an annual sales turnover of $3 – 10 million (SGD), with at least 10 employees and own at least one retail store, factory or warehouse were surveyed  for this study.

Use of trademarks
Milestone Systems and the Milestone logo are trademarks or registered trademarks of Milestone Systems in the U.S. and other countries. A listing of the Milestone trademarks can be found at news.milestonesys.com/trademark-information. All other trademarks and registrations are property of their respective owners.



For the LATEST tech updates,
FOLLOW us on our Twitter
LIKE us on our FaceBook
SUBSCRIBE to us on our YouTube Channel!
SHARE
    Blogger Comment
    Facebook Comment

0 comments: