Commercial businesses must consider their risk exposure when making decisions, whether it is deciding which vendor to use, whether to launch a new product or service, or anything else that impacts finances, operations, and company reputation. SafetyCulture defines risk exposure as “a business or individual’s vulnerability to potential losses, liabilities, or adverse outcomes due to various risks.” In other words, risk exposure is the combination of threat probability and potential impact. 

VirtuGuard™ is an effective and affordable security solution that reduces business’ risk exposure. Continue reading to learn more about risk exposure in businesses and how a proactive, proven security solution can give business owners peace of mind. 

Risk Exposure for Businesses 

SentinelOne identifies three types of risk exposure:  

Financial Risk: The potential for a business to lose money because of changes in the market, legal costs, lost business, etc.  

Operational Risk: The potential disruption to business processes, services, and operations. 

Reputational Risk: The potential damage to a brand, customer trust, and market position. 

Financial, operational, and reputational risks all pose a threat to different aspects of a business. Each business, no matter the industry, will have risk exposure, and it is crucial that plans are in place to prevent, mitigate, and resolve these challenges. 

VirtuGuard™ Remote Video Monitoring Reduces Risk Exposure 

VirtuGuard™ is a proactive, affordable security solution that not only protects a business, its property, and assets, but also reduces risk exposure. From remote Command Centers, Virtual Guards proactively patrol properties through surveillance cameras and respond to alarms triggered by AI and other detection devices. When a verified incident occurs, Virtual Guards respond in real-time to assess, intervene, and resolve. Click here to learn more about how VirtuGuard™ works. 

Investing in an effective security solution like remote video monitoring can help reduce financial, operational, and reputational risk for businesses. VirtuGuard™ proactively monitors commercial and residential properties to detect suspicious activity before it escalates into real incidents that pose threats to businesses, people, and assets. 

Prevent Property Damage and Vandalism 

Vandalism is the “willful or malicious destruction, injury, disfigurement, or defacement of public or private property.” Most vandalism occurs when a business closes or exhibits low activity. While vandalism has declined since the 1990s, it is estimated to cost cities, schools, homeowners, and business owners more than $15 billion per year. Additionally, businesses spend more than $1 billion to repair damage caused by vandals each year. 

With Artificial Intelligence motion detection and other tools, VirtuGuard™ can detect trespassing in real-time. Virtual Guards review the footage that triggered the alarm and livestreams of the property to assess the situation and respond appropriately according to predetermined protocols. In many cases, Virtual Guards can deter a trespass and potential vandalism by conducting Voice Warnings through audio speakers installed throughout a property. After being verbally prompted, most trespassers voluntarily leave the property without further action. 

In situations where a property is not equipped with audio speakers or Voice Warnings are ignored, Virtual Guards can alert onsite security personnel or dispatch local law enforcement to resolve the issue and prevent costly vandalism. VirtuGuard™ not only mitigates the financial risk of vandalism, but also the risk of incidents impacting operations.  

Prevent Theft 

VirtuGuard™ handles threats of theft similarly to property damage and vandalism. When trespassing is first detected, the intention of the individual or individuals is likely not clear. Virtual Guards will follow the same protocols by conducting Voice Warnings if the site is equipped with the proper devices and technology.  

If Voice Warnings are ignored or if it is a clear case of attempted theft, Virtual Guards can dispatch local law enforcement. They can provide dispatchers with details of the ongoing incident, including the exact location of the activity, descriptions of individuals and vehicles involved, and any other information that can enable officers to respond most safely and effectively. Remote video monitoring differs from other security solutions, like burglar alarms, because it focuses on prevention, rather than response after an incident has already occurred. 

Additionally, VirtuGuard™ can assist in internal or police investigations by providing all video footage of an event and compiling detailed reports and timelines. 

Ensure Compliance with Regulations and Procedures 

VirtuGuard™ provides Video Auditing services to help businesses evaluate their operations and ensure that organizational policies and procedures are being followed. Further, it can ensure compliance and document proof of compliance to all relevant laws, including labor laws, that any business may need to operate within. 

Using surveillance cameras and preestablished checklists, Video Auditing specialists can assess, document, and report on the effectiveness, efficiency, and safety of a business. Video Audits can be conducted for almost any industry and purpose, including:  

• Standard Operational Video Audit 
• Compliance Video Audit 
• Department Video Audit 
• Investigative Video Audit 
• Loss Prevention Video Audit 
• Merchandising Video Audit 
• Occupational Video Audit 
• Rent Control Video Audit 
• Workplace Safety Video Audit 
• OSHA Compliance Video Audit 

Failure to ensure compliance within an organization poses financial, operational, and reputational risks. For example, OSHA violations can result in costly fines and can even cause interruptions in regular operations. A company’s failure to maintain compliance can also damage their reputation, driving away existing and potential clients. 

VirtuGuard™ Video Audits can help a business become aware of and improve any compliance or operational issues that could lead to preventable risk exposure. 

Prevent & Investigate Workplace Injuries 

Workplace injuries and workplace safety incidents can result in expensive fines and medical expenses, interruptions in operations, and damage to a business’s reputation. According to the National Safety Council, there were 4,543 preventable fatal work injuries and work-related injuries and fatalities cost U.S. businesses $176.5 billion in 2023 

Video Auditing can be applied to prevent workplace accidents and injuries, and to investigate workplace incidents. Video Auditing Specialists can proactively identify hazards within a worksite, like spills, cluttered walkways, improper use of machinery, and more. Any unnecessary risks will be documented and reported to the appropriate person to be resolved.  

If a workplace injury or accident does occur, VirtuGuard™ can investigate the incident through surveillance footage to determine the cause of an injury or accident. Investigations into workplace injuries can determine whether an injury claim is fraudulent or legitimate, or if an injury has been exaggerated. 

Create a Culture & Reputation of Safety and Security 

Investing in VirtuGuard™ as a proactive security solution can help a business foster a culture and reputation of safety. Safety culture is defined as “the collective attitudes, values, and behaviors of an organization regarding safety and risk management.” A strong safety culture within a business can reduce workplace accidents, minimize costs associated with injuries, and improve the overall performance of an organization. Prioritizing safety can give employees peace of mind, improving morale and productivity. 

A business’s reputation can also be positively affected by safety culture. For example, if a retail center has a reputation for car break-ins, loitering, or a general lack of safety, tenants may terminate their leases and foot traffic at the center can significantly decrease. Using security services like VirtuGuard™ to address repeat incidents can promote customers to return and tenants to stay. 

For residential properties, reputation is a crucial aspect of their appeal to potential and existing residents. Prioritizing security and safety can establish trust within property management and improve resident retention and property value. This improves a residential property’s reputation, which in turn increases income and helps to maintain effective operations. 

Reduce Your Business’s Risk Exposure Today 

Remote video monitoring is more than a security solution for commercial and residential businesses. It is also a tool to reduce financial, operational, and reputational risk exposure. Protect your property and assets while promoting operational efficiency and a positive reputation. Complete the contact form below to speak with a remote video monitoring expert about how VirtuGuard™ can serve your company.