Big money has entered the remote video monitoring market. While remote video monitoring has been done for more than a decade, the market has remained niche.
Inside this note, based on discussions with Netwatch Group's executives, we analyze their approach, key claimed differentiators and their potential to impact the remote video monitoring market.
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Having worked at one of these monitoring services I feel a bit more confident in their future simply because they are not a guard staffing firm. There is always a deep disconnect between an integration arm and a guard arm, particularly when one branch holds sway over the other. For example, Thrive Intelligence has essentially become a broken cog in the Allied Universal portfolio of services.
We have been doing this since 1996 started using Robot Research and POTS slow scan system - not very good but what I discovered was that even though there was huge latency customers really liked the idea and we modified our applications to support what we could deliver. And today with so many tech advances that it now runs real smooth and it works great.
We use our own analytics (and other sensors) as our alarm trigger, and 2 way voice to communicate on site. The station has its own software and we have even started testing robots and drones for our escorts and concierge services. The issue that we found using other analytics was the constant upgrade fees and support fees. The analytic guys look at their products as a RMR and not as a commodity - Customers hate this. This also put a lot of pressure on us to update our station software to support the many versions.
Thank God there is someone big out there pushing this market segment I think it will accelerate the market which has potential. We have a great relationship with Police who always respond quickly, which after all is exactly what the customer wants.
I'd like to see a video monitoring service that caters towards customers that have central station monitoring for the burg system at another 3rd party. Too often we see customers that have burg monitoring but then want video monitoring. We see lots of central stations "trying" to get into the video monitoring game but they usually aren't anywhere near a true video monitoring station.
The bridge and gap is getting smaller, can't wait for a couple more years :)
If I understand you correctly, you want the ability to keep your burg monitoring at the 3rd party location and find a video only monitoring center who knows how to do video and doesn't try to do burg monitoring?
There are several video only monitoring options - we use Eyeforce, Inc out of Houston. I like that they are video specialists and not "distracted" by burg alarm systems going off.
Meghan, I'm glad to hear of someone who has used Eyeforce. I talked to them in the past awhile ago about virtual doorman service, but that project did not move forward.
We're currently looking to replace our current monitoring service provider because they are really the pits when it comes to video monitoring. How satisfied have you been with Eyeforce in this respect?
I've never needed their doorman services but they do all our construction site monitoring and we love them. Very easy to work with, flexible with our ever changing sites and reasonably priced. Give them a call.
I've been a fan of Netwatch since they made their first splash in Boston roughly 10 years ago. They don't overpromise and under-deliver and, their business model ensures solid end-to-end service.
My hope is that this merger will bring both Netwatch and the RVM concept into focus of facility and property managers as well as security directors.