Learn about actual and potential costs
How much should I pay for Security Monitoring Services?
What is the average price of Security Monitoring Services?
This procurement report includes pricing information to help you purchase Security Monitoring Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Security Monitoring Services been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Security Monitoring Services yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Security Monitoring Services?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Security Monitoring Services with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
The top four security monitoring service providers generate about 60.0% of total market revenue, indicating a high level of market share concentration. ProcurementIQ estimates that there are 6,650 suppliers in the market in total, comprised of a few larger national firms and thousands of smaller regional and local companies. ... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
What is the cancelation fee for terminating a contract early?
How might cancelation fees be modified if a customer cancels due to dissatisfaction with the service?
What proportion of your clients have canceled services due to poor customer service in recent years?
How do you reconcile customer dissatisfaction with your service level agreements?
What is the onboarding process like before services may start for a buyer?
How do you inspect a buyer's current security system?
Can you use a buyer's existing hardware or do you require the installation of proprietary hardware?
How do you determine what security equipment needs to be installed before services begin?
What kind of purchased equipment do you install? Could it be used with other service providers if a buyer changes vendors?
If equipment may be leased, what are the terms? How does that factor into a buyer's costs?
What controls are in place to mitigate communication failures?
How would you manage a power outage?
What are the key factors that may limit your ability to ensure monitoring continues 24/7?
How frequently have services been interrupted during the past few years?
How do your services differ from your competitors?
How do you obtain new clients and retain their business?
What effect has increased competition in the market had on your business?
Do you foresee any major overhauls to your business model during the next few years?
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Key elements for every RFP
What should my RFP include?
Buyers should request the hourly rate for each different type of monitoring service they require.
Buyers should include a total budget for all services as well as any additional equipment training and maintenance that will be provided.
Buyers should specify a clear beginning and ending date for all services that will be rendered, including maintenance for any ancillary equipment.
For help creating a budget, buyers can use the Benchmark Price and Total Cost of Ownership sections of this report.
Buyers should have a clear system to score submitted proposals. For help creating selection criteria, buyers can reference the Buying-Decision Scorecard section of this report.
Buyers should select a vendor with a track record of reliable service based on references from past clients.
Buyers should select a vendor that is able to reduce potentially high total ownership costs.
Buyers should list important dates in the bid solicitation process, including any required on-site walkthroughs and all mandatory submission deadlines.
Buyers should list dates signaling the beginning and end of service.
Buyers should list terms for early cancelation of the contract.
Buyers should include a desired warranty date for all additional equipment purchased.
Buyers should specify the date when the bid award will be announced.
Evaluate major factors to mitigate risk
How risky is the supply chain?
There is a low level of supply chain risk for security monitoring services. Service providers rely on various first and second tier suppliers for the system hardware and software they need to operate. Although market suppliers do face some upstream risks, they are largely negligible and hardly impact buyers. ... Subscribe to learn more.