RETAIL KEYHOLDING COSTS

Reducing key-related financial risks in multi-site retail

Retail operations are a broad discipline, so it is no surprise that keyholding is often perceived as an insignificant or minor element of a retailer’s security and facilities management function. However, keyholding can become financially draining, particularly in multi-site national operations.

Every lost key results in key and lock replacement. Every missed contractor visit due to key handover or access issues leads to missed visit charges and repeat callouts. Every delayed alarm response can result in more severe consequential damage.

1.

Manual systems where keys are handled by store colleagues.

2.

Lack of visibility into key movements.

3.

Poor tracking of access to individual stores.

RETAIL KEYHOLDING RISKS WITH FINANCIAL IMPLICATIONS

• Staff leaving job abruptly and taking keys with them, or keys lost by store colleagues responsible for locking and unlocking.

• Costly key and lock replacements, with expenses escalating across multiple locations.

• Delayed store openings due to missing keys or late keyholders, directly impacting revenue.

1.

Elimination of key loss and lock replacement charges.

2.

Savings on outsourced keyholding fees.

3.

Reduced incident investigation time.