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Loss Prevention & Asset Protection Benefits of a Key Tracking System

Loss Prevention and Asset Protection are important components in profitability for every retailer, grocer, and other multi-site organizations. With multiple locations, access points, and people with access, maintaining control over physical keys to prevent loss is imperative. There are a number of factors that contribute to an organization’s ability to control keys and access. One that can help make it simple, secure, and more efficiently managed is a key tracking system.

Web connection and communicationA key tracking system allows an organization to keep track of who has what keys and what keys open which doors. Key tracking can be accomplished in many ways, some more easy-to-manage than others. A simple spreadsheet can get the job done, but this method lacks efficiency, especially with lots of keys, people and locations to keep track of. On the opposite end of the spectrum, a cloud-based key tracking system provides efficient, real-time key tracking that can be easily managed by multiple authorized administrators. Some of the more sophisticated systems can do much more than just key tracking as well.

Having accurate key tracking is a crucial factor in loss prevention and handling a security breach with a key in subsequent investigations. Here are some of the benefits of using cloud-based key tracking software to that effect.

Efficient Key Tracking

There are a number of ways to track your keys and employee access, but not all of them are efficient or scalable. Particularly for medium and large multi-site organizations or businesses that are growing, keeping track of keyed access in spreadsheets or with paper trails is time-consuming and hard to audit. 

With key tracking software that is designed for the main purpose of key management, you can significantly reduce the frustrations of key tracking that comes with tools that aren’t designed for it. Easily being able to find who has access to what areas, assign or transition keys, and perform a key audit are all benefits of using designated key management software for your key tracking needs. Using a more efficient key management tool can free up time that is currently being spent on more unwieldy key control.

Real-Time Access to Records

With a cloud-based key tracking system, you have real-time access to your key data around the clock. When you make any changes within your records — when someone new gains access, when someone’s access changes, or when a rekey has been conducted — updates will flow automatically across your cloud-based system. 

This is useful if you have more than one administrator or stakeholder using your key tracking system. It makes access and visibility significantly easier. To view your key tracking with cloud-based software, all you need is a device with an internet connection and your login information. You can access your database remotely, from anywhere in the world. In comparison to a paper key management system or a spreadsheet saved locally, cloud-based key tracking software offers secure, real-time key control.

This kind of accessibility is crucial when conducting an investigation after a security breach with a key, particularly for retailers with large inventories. With a spreadsheet or paper trail, sorting through who had access to a compromised entry point is a stressful hassle. With cloud-based key tracking software and real-time updates, gathering a list of persons of interest is quick and easy.

Loss Prevention With a Security Breach

Security breaches can be difficult to completely avoid when managing keys in an organization with many access points and locations to keep track of. Whether you’re dealing with a lost key resulting in unauthorized access or internal theft, handling the matter quickly and efficiently limits the opportunities for further loss. When a breach occurs, one of the first priorities is restoring security to any access points that were affected.

With a cloud-based key tracking system, it’s easy to look up, in real-time, who has access to the affected entry points. This is vital after a security breach and makes it easier to know whose keys are affected and when access points should be rekeyed.

Dealing with a security breach when using spreadsheets, paper files, or other outdated and limited methods of key management is not as easy. Where key tracking software has functionality built in to provide a list of key holders with access, that task is left to you to complete when using other methods. With a security breach, time is of the essence. Other key tracking methods can slow down your efforts, leaving the window of opportunity open for additional loss.

Comprehensive Key Control

A cloud-based key tracking system is just one component of comprehensive key control. Integrating it with other innovative key control program components will enhance security, simplify key tracking, and promote a more cost-effective program. For example, restricted keys and user-rekeyable locks can be used along with a key tracking system for these outcomes.

Restricted keys prevent copies from being made without authorization, which improves security and gives you peace of mind knowing that there are no duplicate keys providing unauthorized access. InstaKey tightly controls restricted key blanks through licensing agreements to keep blanks off the open market. Every key is also uniquely serialized so key tracking with a key management system is a breeze.

User-rekeyable locks take the frustration out of rekeying when a key is unaccounted for or there’s a security breach. They can be rekeyed without paying a locksmith or removing hardware. With a Step Change Key, locks can be changed multiple times, which cuts down on the need to store spare key cores in preparation for the next rekey.

Having multi-faceted key control ensures that your locations are secure and can significantly simplify the day-to-day key management tasks that can be a hassle without key tracking software and other key control methods. 

Creating a comprehensive key control plan that works for your unique requirements is what InstaKey does best. Our key tracking system,, was created with over 30 years of expertise and industry best practices in maintaining security and streamlining key management. The best part is that you can get started today, regardless of what lock, key or core manufacturer you use. Log in to our key tracking system and explore with demo data now.