The Keyholding Company introduces physical security risk management software

The Risk Management Tool is a new feature in The Keyholding Company’s existing online platform. It combines an in-person client consultation with digital site risk assessments. The former captures bespoke risk appetite, assets, threats and impact levels to set protection baselines. The latter are conducted via a mobile app comprised of 38 pre-configured questions replicating National Protective Security Authority Best Practice security guidelines.

Ultimately, the output is dynamic risk dashboards where every site can be examined at a granular level, drilling down into asset-level data to identify areas of concern and evaluate security measures to ensure correct outcomes.

This quantitative-style approach to physical security and the use of data-driven models will offer robust insight and help security professionals in making smarter and more cost-effective business decisions.

Problems with risk management

The world of risk has evolved, but the management of that risk hasn’t done so in unison. The traditional pen and paper or Excel-based approach led by a single consultant involves inherent flaws.

One of them is inaccurate risk modelling. Traditional physical security risk assessments often rely too heavily on subjectivity, in turn leading to inaccuracies and inconsistencies in identifying and prioritising security risks.

Then there’s the lack of actionable data. Reports are not dynamic, making it difficult to analyse risk assessment data and changes to the threat landscape. This then makes it more difficult for security professionals to act and prove results.

A further flaw is slow turnaround times. One consultant could take weeks to complete the necessary risk assessments, resulting in mounting costs. Then comes the process of lengthy report writing, dragging out the process still further.

In addition, traditional risk modelling often leads to the lack of an integrated consideration of assets and unnecessary expenses.

Better way forward

The Keyholding Company’s consultancy division, namely TKC Consult, has set out to address these challenges through technology. Led by in-house risk experts Rachel Webb CSyP (chief commercial officer) and Oliver Rutt (head of the risk consultancy), the end result is a process delivered across three phases.

First, risk experts deep-dive into a client’s estate, setting a protection baseline recorded directly to the platform. Data on crime, deprivation and environmental factors also give accuracy to the threat landscape.

Second, thorough app-based digital site risk assessments capture existing mitigations and vulnerabilities and can be transaction by any professional person at speed.

Third, risk dashboards demonstrate whether protection baselines are met, not met or are otherwise excessive. The client can filter by BAU and heightened security scenarios to understand if protection meets the baselines.

Transparent data

Transparent data helps reveal where to replace over-investment into lower-risk areas with intelligent and targeted resource allocation. Inconsistencies and biases are eliminated. The methodology is solid and built on and global risk management standards.

A digital approach means that portfolios of any size can be assessed rapidly by any professional person who’s following standardised and guided assessments. What’s more, the impact of security adjustments over time can be evidenced.

Rachel Webb explained: “The Risk Management Tool has huge potential to help security professionals take creative control of their security outcomes and feel confident using data to spend their budget effectively and implement changes that will have a marked impact on safety.”

For The Keyholding Company’s CEO Charlie Gordon Lennox, this launch marks a new chapter for the company, “The Keyholding Company lives by a tech-first ethos, which has enabled us to transform how mobile services are delivered across the UK. Introducing dynamic and accessible risk information into our platform further transforms our clients’ abilities to improve their security position.”

*Further information on the Risk Management Tool is available via e-mail at consult@keyholding.com or online at www.keyholding.com