The start of a new year is the perfect opportunity to reassess operational budgets and refine security strategies. While many organizations meticulously plan for utilities, payroll, and maintenance, they often overlook the ongoing and substantial key management costs, leading to unplanned, emergency expenses later in the year.
Rekeying is more than a reactive cost. It is a predictable and manageable part of maintaining secure access control. By forecasting and managing these key management costs proactively through smart budgeting, businesses can reduce surprises, prevent costly downtime, and maintain a secure, efficient operation throughout the year.
Why Key Management Belongs in The Annual Budget
Access control is never an if scenario; it is more like a when. Staff changes, lost keys, and facility expansions can occur at any time during the year.
Ignoring this reality means unexpected lockouts or emergency rekeys will happen at any time, leading to disruptive downtime, emergency fees, and lost productivity. Without explicitly budgeting for rekeys or hardware updates, businesses are often forced to make rushed, costly decisions.
Strategic key management budgeting ensures the business is ready for:
- Staff turnover and lost keys
- New site openings or remodels
- Routine maintenance and security audits
- Scaling key programs for new or seasonal hires
The average business experiences multiple rekeys per year. Planning for them upfront helps control long-term key management costs.
The True Cost of Traditional Rekeying
Traditional rekeying requires an external locksmith. When this service is rendered, organizations are paying for more than just the labor and the new pins. They are paying for the emergency call-out fee, travel time, and the inevitable waiting period. These costs quickly compound over multiple locations or in high-turnover industries, like retail or hospitality.
The traditional rekeying process is also disruptive. It turns a simple security adjustment into a multi-hour, multi-hundred-dollar if not thousands dollar interruption, tying up a manager's time and leaving a critical door vulnerable during the wait.
Budget-Friendly Alternative: User-Rekeyable and Interchangeable Core Systems
Interchangeable and user-rekeyable core systems offer a powerful, cost-saving alternative to traditional locks. By switching the hardware, companies gain immediate control over the rekeying schedule and costs.
- Predictable Costs – Rekeying becomes an internal task, eliminating last-minute emergency locksmith calls.
- Minimal Downtime – Rekey instantly using a control key, oftentimes in less than 60 seconds.
- Scalable Investment – Businesses can rekey interchangeable cores indefinitely, boost cost savings, and gain long-term flexibility.
- Simplified Management – Key management platforms track and audit rekeys for full cost visibility, complete access control, and staff accountability.
A Use Case for Traditional vs. User-Rekeyable Locks
A busy retail chain needed 50 locks replaced across its entire district in one morning due to a stolen master key. Since the business is using traditional lock mechanisms, they must find a locksmith who can complete all 50 lock replacements within the allocated time. If that locksmith couldn’t do it, they would be forced to call another, and perhaps another. The business is at the mercy of the locksmiths, both for time and cost to complete the job.
Alternatively, let’s say this business was using user-rekeyable locks with interchangeable cores. Those 50 locks across the business district could be assigned to the appropriate staff member responsible for rekeying locks. That staff member then takes inventory of the 50 locks, utilizes the step change key to rekey each cylinder, and only replace the master keys all keys for individual locations still work. This can all be done in a matter of seconds per lock without causing business disruption, loss in productivity, or security vulnerabilities across each location.
Five Ways to Build Rekeying and Key Management into The Budget
#1 Review Last Year’s Security Costs
Evaluate the frequency of rekeying, lost key incidents, and total locksmith expenses. Use this data to forecast a more accurate, needs-based budgeting plan.
#2 Estimate Future Staffing and Location Changes
Plan for anticipated growth, turnover, or new site openings that will require access updates and more rekeying.
#3 Invest in Scalable Key Systems
Include funds for upgrading to user-rekeyable cores or expanding existing systems. The long-term return on investment for user-rekeyable locks far outweighs future recurring replacement costs of traditional locking mechanisms.
#4 Leverage Key Tracking Software
Budget for a dedicated key management platform to centralize recordkeeping, reduce human error, and simplify audits.
#5 Train Staff and Standardize Procedures
Set aside resources for training managers responsible for issuing, tracking, and rekeying locks. If the procedures become lackadaisical and are not enforced, businesses run the risk of theft, shrinkage, and increased costs.
How InstaKey Simplifies Security Budgeting
InstaKey’s key control program allows businesses to move rekeying from an unpredictable expense to a proactive controlled operational function with these tools:
- User-Rekeyable Locks
- Interchangeable Cores
- Restricted Key Programs
- SecurityRecords®
This year, turn key management into a foundational part of your financial strategy.
