5 Ways an Interchangeable Core System Can Reduce Business Costs
Changing the locks is an unavoidable part of running a business. Regardless of the size of your building, it’s always a nuisance, but it becomes more of a problem for multi-site organizations. Security breaches, staff turnover, and misplaced keys result in the inevitable process of changing the locks. The person who holds your keys today may not necessarily be the person you want to manage your keys tomorrow. Utilizing an Interchangeable Core system can save your business time and money without compromising on security. Adopting secure and streamlined key control practices will increase security and cut down on key management costs for your business.
What is an Interchangeable Core?
An Interchangeable Core, or an IC core, was invented back in 1919 by Frank Best. He wanted to create a way to avoid the hassle of having to call a locksmith whenever a key was lost or misplaced. An IC core is a figure-eight-shaped removable cylinder placed within the lock hardware. The IC core can be removed and replaced with another core to change your locks. Although they cost more than conventional cylinders, they’re cheaper to rekey and offer more control for business owners. These specific types of locks are popular in commercial spaces, apartment buildings, government facilities, condominiums, schools, multi-office spaces, etc. Interchangeable Cores are recommended for virtually all types of keying systems though - even small office spaces.
What is a Rekeyable Interchangeable Core?
A Rekeyable Interchangeable Core from InstaKey takes the advantages of an IC core and goes a step further. Instead of having to replace the core, you can simply rekey it. You don’t have to be a tech expert to rekey it either because InstaKey’s innovation utilizes user-friendly Rekeyable Interchangeable Cores. In the event of a lost key or a physical security breach, the core doesn’t even need to be removed from the lock - which means you don’t have to even keep replacement IC cores on hand. All that’s needed is a Step Change Key, a 180-degree turn in the lock, and the corresponding set of replacement keys for that step. Within seconds, the core is rekeyed- which is even easier and more convenient than replacing a core.
Financial Benefits of Interchangeable Cores
An Interchangeable Core System can eliminate the time, hassle, and cost of rekeying. Rekeyable cores can cut expenses, improve security, and be integrated with your existing key system. Let’s take a look at how Interchangeable Cores can benefit your business.
1. Eliminates Locksmiths
Interchangeable Cores are extremely economical for businesses and institutions that encounter issues with maintaining adequate key control. Keys are lost, loaned, misplaced, borrowed, and stolen. Employees are hired, transferred, and discharged. It’s all common and expected in business. The cost of having a locksmith replace locks with every change is expensive, but even more so when multiple keys are affected. If a key is lost after-hours or there’s a breach, you’d need an emergency locksmith – which drives the cost up even more. To put it in perspective - according to Forbes, you can expect to pay up to $150 to rekey your business doors and between $100 and $250 to replace a lock. If you have 10 doors to replace, that is $1500 in rekey fees. If your business has cylinder locks, those are cheaper to replace at around $20-35 per key, but when you factor in the service fees charged in addition to the key fees, you’ll have quite the expense. After-hour and holiday fees are significantly higher. Nobody wants that kind of bill because someone else was negligent or malicious.
Eliminating a locksmith cuts down on additional costs too. A rekeying project needs to be managed. Overseeing a locksmith pulls your staff away from other work or left waiting for a locksmith. While the high-security areas are unsecured, you may need guards posted, which results in contract or labor fees.
2. Saves Time
Implementing interchangeable cores in your locks can save you time – and time is money. Your time is valuable. In the event of a breach, seconds matter. Replacing the interchangeable core is a simple task that can be done immediately.
Traditional rekeying takes longer, which results in lost productivity. Business owners often fail to consider the amount of downtime when a critical key goes missing or numerous locks have to be re-keyed. A key loss can shut down entire workflows. Staff can’t easily access your facilities and assets until there are new keys. In a large organization, a complete re-keying operation can take weeks or even months.
3. Reduced Risk of Theft
Traditional non restricted keys can easily be copied or duplicated, despite the imprint that says “do not duplicate” or “duplication prohibited”. If you use traditional keys, you’re at great that duplicated keys can access your facility without your knowledge leaving you unsecured.
While unsecured, you’re at risk of theft and vandalism. A fast response when rekeying affected locks is crucial for maintaining the security of the building and everything inside it. Depending on your business, you could have expensive products, tools, cash, or devices on the line. Even with insurance to cover theft or damage, there are deductibles to pay and you’re still left with the cost of rekeying or replacing locks. A side benefit of InstaKey rekeyable cores is that their keys and their rekeying kit includes restricted keys.
4. Increased security
Master keys are a necessary business component to ensure key holders with high-level access are able to get into all locks in and across sites. However, master keys are a security risk if lost or stolen. When a key is lost, stolen, or compromised, rekeying affected locks quickly is crucial for the security of the business.
InstaKey’s Key Control System features Cloud based software that provides remote oversight to know who has access and what they have access to, making it simple to regain control – regardless of the size or complexity of your keyed environment.
5. Avoid Reputational Damage
When a key is lost and security is compromised, the reputation of the business may suffer. Aside from all the potential costs of a lost key, the most financially damaging is what customers and the public hear. Word spreads fast about a major lost key incident. Regardless of the reason it occurred, it tends to look like a lack of security on the business’s part. This can have a severe impact on a business’s reputation, especially in industries that handle personal information or deal with the public.
Although Rekeyable Interchangeable Cores are an initial up-front investment, they improve security and save you money in the long run.