Advanced key and asset management technologies are essential for physical security in corporate spaces, claims Dirk Welch, Regional Sales Manager at Traka.

Staying innovative

Fortune 500 companies represent some of the largest organizations within the US and are typically seen as the benchmark for successful businesses.

How they operate and generate revenue are valuable case studies for smaller companies to model themselves after.

Yet, there remains an aspect of operations within many of them that reflects antiquated thinking and potentially leaves them vulnerable to security threats.

How the most forward-thinking are addressing this problem should serve as a roadmap to any organization that’s looking to optimize operations and enhance efficiency.

Despite the size and breadth of Fortune 500 companies, many of them struggle to adequately manage some of the most critical components of everyday operations, including keys and shared assets like scanners, tablets, radios and laptops.

This is seen in a variety of locations including traditional offices, retail storefronts, warehouses, data centers and more.

Each key and shared asset that’s mismanaged represents a security threat if it ends up in the wrong hands, as well as a financial burden to re-key a facility or replace a lost or stolen item.

Still, it’s a rarity that any sort of management solution shows up on a P&L sheet or is part of a larger corporate initiative to increase security.

The new era of work

An interesting parallel reality to this outdated or, in some cases, completely absent form of key management is a constantly shifting working environment.

The pandemic led many large companies to reevaluate where and when their employees are working.

Many organizations conduct business in leased offices, which sometimes include other tenants.

A unique example is security officers, which now typically consist of contracted or part-time personnel versus the full-time, in-house team that many organizations had previously.

The result is a revolving door of users who are using the office at differing times, which only further underscores the importance of adequately monitoring who has access to what and when.

Key and asset management solutions are fundamental tools in achieving that goal as they secure a company’s most widely used items.

Managers designate who has access to what and keep all keys or assets in a singular location or, for facilities with a larger footprint, decentralize multiple cabinets and lockers to help reduce downtime walking to them.

Keys and assets can be assigned curfews so that if they’re not returned by a certain time, managers will be notified.

That, too, cuts down on time spent looking for lost items while instilling a sense of accountability within employees.

Temporary deposit lockers are also becoming more common as they house an employee’s personal effects, and a manager makes sure he or she only has access to a certain compartment.

These lockers are especially useful in highly sensitive areas, where staff check weapons, phones or other devices before entering a restricted part of the facility.

These lockers, along with the traditional key cabinets and asset management lockers noted above, produce auditing reports that further assist in staying within compliance and aligning with an increasing number of industry regulations.

Scaling solutions

Interestingly, there isn’t an industry professional group for security teams within Fortune 500 companies, and as such, many of these businesses are approaching security operations without much outside consultation.

To implement a solution, they therefore need a test case to prove that it works before integrating it with hundreds or even thousands of locations.

Key and asset management are perfect examples of scalable solutions, as their impact is felt regardless of the size of the operation.

Big companies that try using a single key cabinet can experience how that cuts down on employees waiting to check out a key from a manager or how it assists with their fleet vehicles by keeping a record of when any of their trucks need to be serviced.

By starting small, companies zero in on where and how these solutions are the most effective and scale strategically to additional areas.

By doing so, they’ve established credibility within their workforce by creating a success story that has internal buy-in.

A vital part of determining a solution’s efficiency is how it communicates within a company’s existing ecosystem.

Because of the complex landscape of buildings that large companies operate in, security technology must be streamlined and communicate effectively with the overall access control system.

Not only does this remove the headaches of trying to get processes and solutions to align, but it also guards against potential security threats, which increase with the more employees and buildings a company operates.

Because keys and assets are often expensive and garner entry to sensitive material, access to them needs to be tied to the security network.

When an employee leaves or is terminated, his or her credential should be deactivated, which if connected to solutions like key and asset management lockers, should reduce the likelihood of that former employee having access to sensitive materials.

Moreover, if all solutions are aligned on the network, managers have a comprehensive view of operations in real time so they can further monitor usage and address any potential threats.

It’s sometimes daunting for large companies to consider new security technology, especially if they’ve operated within a particular framework for a long time.

But because threats are constantly evolving and the risks are inherently larger for organizations with a bigger footprint, it’s important for security teams to prioritize solutions that give them a holistic view of their operations while also being flexible to scale as needed amid a shifting workplace landscape.

Key cabinets and asset management lockers are two examples of futureproof solutions that benefit nearly any organization by integrating with their existing framework and providing a clear return on investment through their immediate impact on security and efficiency.

This article was originally published in the special ISC West 2025 March edition of Security Journal Americas. To read your FREE digital edition, click here.