If the safety and security of your employees and assets are important to you, the return on investment (ROI) of construction cameras might be of interest to your bottom line. Let us look at some statistics to understand the problem and discover if technology offers the most cost-effective solution.
- As much as $1 billion is lost annually by construction companies due to the theft of equipment, technology, materials, and tools.
- Only 25% of all tools or materials stolen from construction sites are recovered annually.
- When construction equipment or materials are stolen, aside from hurting the budget, it can also affect the project schedule. A study by Caterpillar found that as many as 800 hours (about 1 month) are lost due to equipment loss by construction companies each year.
Construction companies must deal with many problems to be successful, but few are as costly as theft. While there are many ways of addressing this problem, few are as cost-effective as construction cameras.
Technology Integration in Construction
Technology is becoming one of the most cost-effective ways of preventing theft, accidents, or wasted time and materials. Construction cameras are by far the most cost-effective way to secure a job site compared to the alternatives.
The most common method is hiring security guards to patrol the construction job site. Over an entire year, a single guard will cost hundreds of thousands of dollars (based on the average rate of $30-65 per hour per guard).
Leveraging existing technology, specifically a few cameras with an artificial intelligence integration, and you can save thousands of dollars a year in labor costs alone.
The Choice is Clear: The ROI on Construction Cameras
If you look at the value of all the possible methods of securing your construction job site, few compare to the simplicity of construction cameras. Whether it is as simple as perimeter fencing or security personnel, or a more technology-driven solution, such as construction cameras, satisfies both fiscal and physical needs.
In addition to saving time and money, construction cameras can also be used in other parts of your business including:
- Monitoring employee behavior on the job site to ensure compliance with rules and policies.
- Increased productivity from employees who know there are cameras present on the job site.
- Scanning the construction job site for safety hazards before they result in injury or death.
- Creating time-lapse videos of the construction progress to share with partners and investors.
How can SiteKick help you use existing technology including construction cameras and artificial intelligence to vastly improve your bottom line? Begin by contacting us to see how we are revolutionizing the construction industry with our ultramodern job site monitoring solutions.