Retailers Waste over $1 Billion Annually on Fines Associated with Alarm Permits and False Alarms

By: Judy Borchardt, Director of Customer Relations, Iverify

There are many mundane tasks that are necessary to the well-being of your business. And as your priorities change from crisis to crisis, the list of tasks that often get temporarily overlooked or permanently forgotten continues to grow. If you're like many retailers, the management of your alarm permits is likely near the top of that list.

In fact, the retail industry wastes over $1 billion per year on unnecessary fines associated with alarm permit compliance and false alarms. Although reducing these fines continues to be one of the quickest ways a Loss Prevention executive can impact the profitability of his or her organization, many continue to overlook this easily curable profit-eroding cancer that's plaguing their bottom line.

But fines associated with false alarms and alarm permit management are not the only risk in this dilemma. Did you know that failing to annually maintain an alarm permit for each individual retail location will, in many jurisdictions, result in your organization being put on a "No Dispatch" list? This means that when an alarm is activated, the Police or other emergency responders won't even be dispatched to the alarming location for investigation or resolution. In many instances, retailers are put on the "No Dispatch" list with no warning simply for not having a valid permit on file, thereby subjecting themselves to increased liability should emergency responders fail to respond to the alarming location.

Obtaining and renewing alarm permits is a constant challenge

The number of states, counties, cities, and towns requiring retail businesses to obtain alarm permits for their monitored alarm systems is increasing rapidly. Gathering all the necessary information to secure alarm permits from appropriate authorities for every business location can be difficult and time-consuming. Each jurisdiction can have different alarm permit requirements. Locations must be identified and registered. If a retail location does not have an up-to-date alarm permit, it is either fined for non-compliance or put on a "No Dispatch" list, meaning emergency responders will not be dispatched at all. Numerous out-of-compliance locations can be costly, and the tremendous liability risk incurred is simply unnecessary. Permits must be completed, processed, and scheduled for routine renewals. False alarms must be dealt with, fees/fines must be paid, and being put on the "No-Dispatch List" due to no permit or an unpaid fine must be avoided.

Navigating online forms takes time and allocation of resources, both of which are in high demand and tight supply. This often leads to alarm permit functions being left in the hands of someone not equipped to handle them properly or the distribution of various tasks to several employees which, especially in the case of high employee turnover, can result in noncompliance issues and unnecessary liability.

But there is an answer: Iverify's Permit Management Service

Iverify offers a robust compliance program that can manage all your alarm permit and renewal issues.

Why implement Iverify's Permit Management Service?

Read more here.