As a company, OfficerReports.com continues to move quickly past our inception as a provider of security guard daily activity report software. As a result, we are proud to announce that we have rolled out several new features for our Security Guard Reporting App and made modifications to current features.
Security Guard Reporting App Temperature Log Feature
We have added a Temperature Log feature that allows officers to notate and report temperatures for equipment that they are responsible for monitoring. The Temperature Log captures:
Fuel Levels for Trailers
Date and Time
The client’s report will provide your customers with an itemized list of each assets’ temperature ranges across a selected date range. You can see the Temperature Log on our YouTube Channel.
Our Security Guard Reporting App now allows security officers to log parking violations outside of the Security Guard Reporting App’s Incident Report feature. As a result, your customers can now pull a separate report that details parking violations as reported by your officers. Security Officers can record:
Based on our conversations with many of you, in addition to the new features, we have also made several improvements to the current app. These improvements include:
The app can now be resized to accommodate officers with, as it was put to us, “sausage fingers”.
Increased the size of the navigation arrows on the Truck Log to enhance usability.
Added date ranges to several reports to give your clients more flexibility in the reports they produce.
Increased the size of the Details section of the Daily Activity Report to allow for easier reading.
As we continue to develop our offerings we look forward to our ongoing conversations with each and every one of our clients. We believe that your input and insights are the keys to OfficerReport.com’s continued success. Thanks again!!!
Have you ever asked yourself “How am I going to make payroll this week?” If you own a security guard agency you probably have. If you own a security guard agency and you haven’t, you’re probably new and this article on invoice factoring is meant for you.
I remember the first time that I realized paying the bills had less to do with profitability and more to do with cash flow. When you issue an invoice to your customer, your customer typically has 30-60 days before they pay that invoice. But while you are waiting for the check, you have expenses to pay, namely payroll. So how do you cover those expenses before you receive your customers payment? The traditional answer is with a bank line of credit. But for many small companies in today’s economy getting a loan from a bank is very difficult. According to an article in the Wall Street Journal, banks are trying to clean out and fix their balance sheets so the standard to have a loan approved is higher than in past years. So as an alternative to a bank loan consider Invoice Factoring.
What Is Invoice Factoring?
Invoice Factoring, is also referred to as receivables financing or receivables funding. Factoring provides smaller and early-stage businesses with faster access to the money trapped in their accounts receivables. Invoice Factoring differs from a bank loan or line of credit in several ways:
Where a loan from a bank loan would be between you and the bank, factoring involves you, a factoring company, and your client.
The emphasis for the financing is placed on the value of the receivables, not the credit worthiness of the borrower.
Factoring is not a loan, rather it is the purchase of an asset. In the case of a security guard agency, that asset would be the invoice that you send to your client.
So how would the factoring process work for you? Invoice factoring is a 3 stage process. First, you would sale an invoice and transfer ownership of the receivable to the factoring company. Second, the factoring company would pay you a percentage of the invoice’s face value (up to 90%). The 10% that is kept by the factor is known as “The Reserve”. Third, once the client submits payment to the factoring company, they release the reserve minus a “discount” (fee).
Invoice Factoring Pros & Cons
As with most things, there are pros and cons to invoice factoring. Here is a short synopsis of both:
Factoring gives you access to working capital much faster than waiting for your clients to send payment.
It’s easy to qualify.
They can follow up with your customer to collect payments on your behalf.
Factoring creates no new debt.
Invoice factoring is much more expensive than a traditional loan or line of credit.
You must have a good understanding of the fee structure for your factoring agreement as they can sometimes be vague.
Each factoring company’s requirements will vary wildly, so make sure to shop your deal around.
Before deciding whether or not you should factor your invoices, carefully weigh out the pros and cons. Although factoring can be a real life saver, it is definitely not right for everyone. Have you used a factoring company before? If so what was your experience? Do you have any tips for someone looking to do invoice factoring? Please leave your comments below.
Selling security guard services is admittedly not the sexiest of jobs, but with the right attitude and motivation you can do well both professionally and financially. In order to be great at security guard sales, or sales in general, it requires extensive reading and even more practice. One of the first books that I read and refer back to fairly regularly is The 25 Most Common Sales Mistakes and How to Avoid Them by Stephan Schiffman. Stephan is a Certified Management Consultant who has trained and consulted with corporations such as IBM, Motorola, and Cigna. He has trained over 500,000 professionals across 9,000+ companies. Of the 25 most common mistakes outlined in his book, there are 10 that are essential to anyone involved in security guard sales. I have taken the liberty of summarizing those 10 below.
Mastering Security Guard Sales
Security guard service is one of the most competitive industries that exists (if it isn’t it, sure does feel like it) and losing a sale can be the result of being a penny too high or making easily avoidable mistakes. Here are 10 mistakes that you should be aware of.
Not Being Obsessed – Being great at sales requires dedication and total commitment to reaching your goal, to the point of obsession. But keep in mind that being obsessed does not mean that you have to give up your personal life. What it does mean is that you have to make a commitment to yourself that drives your sales related activities daily.
Not Listening to the Prospect – Many times salespeople think that selling is more about talking than listening. But when you get down to it, a good salesperson doesn’t so much sell as help his prospect solve a problem. Zig Ziglar was quoted as saying “Stop selling. Start helping.”
Not Empathizing with the Prospect – As a salesperson you must be capable of seeing things from your prospect’s perspective. Remember that you are not going to be the most important thing on your prospect’s to-do list. Develop respect for your prospect’s time and mindset.
Not Taking Notes – Taking notes will aid you both in listening to your prospect and helping you keep their needs and wants in mind. By taking notes you show that you are organized, professional, and concerned with the prospect’s interest. You may also find that prospects talk more when you are taking notes because it reinforces their desire to speak. This in turn gives you more to write…a self perpetuating cycle. Keep in mind that these notes will help you target your approach moving forward.
Failing to Follow Up – Failing to follow up gives your prospects an opportunity to forget about you and your company. As a security guard sales professional you must stay top of mind with your prospects, otherwise your competition will be more than willing to take their attention. Remember your prospect is not sitting around saying “Wow I can’t wait to meet with that salesperson again”, they move onto their next task.
Not Taking the Prospect’s Point of View – Although as a salesperson you are probably very aware of your company’s offerings, you must look at how those offerings benefit the prospect. It’s a common mistake to talk about your training programs or hiring practices without translating those benefits into the customer’s language. For example you might be tempted to say “Our officers use OfficerReports daily activity report software for submitting daily activity reports”. You should go one step further and translate that into “Ms. Prospect you will never have to wait on a report, because they are always accessible on the web”.
Not Taking Pride in Your Work – You must stand behind your company and services with pride. If you don’t believe in your company, then the prospect surely won’t. Chances are they have received bad service from other firms, so taking pride in your services will help assuage any apprehension. If you don’t take pride in your service and organization, you will not be successful.
Trying to Convince, Rather than Convey – As part of a security guard sales team you must realize that selling is not about getting other people to see your point of view. Rather, it is about conveying to the prospect how and why you can help solve their security related issues.
Taking Rejection Personally – As a professional responsible for security guard sales, you can not see rejection as a personal affront. Rejection is just part of the overall sales cycle, every “no” that you get puts you 1 step closer to a “yes”, perseverance pays off in abundance.
“I do not think there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature”. -John D. Rockefeller
Underestimating the Importance of Prospecting – Of all the habits that your security guard sales team can develop, commitment to prospecting is most likely to ensure sales success. According to Grant Cardone the problem with closing a sale is that you always lose your best prospect. You must be laser focused on ALWAYS keep something in your pipeline, otherwise you will come to regret it.
This list is not a cure-all and will not provide you with an instant turn-around for poor security guard sales. But using this list in combination with the right focus and motivation will provide a great place to start a turn-around.
If you are responsible for security guard sales, what would you add to this list? Is there anything that you disagree with? I would love to hear your thoughts.