New risk management software from The Keyholding Company

The Keyholding Company (TKC) is passionate about raising the bar on effective security management, the company reports.

It helps clients design physical security solutions that genuinely move the needle to create safer spaces and empower security professionals to make intelligent, data-driven decisions. 

The Risk Management Tool is a new feature in TKC’s existing online platform and an industry first, set to transform physical security risk management as we know it. 

New Risk Management Tool

The Risk Management Tool combines an in-person client consultation with digital site risk assessments.

The in-person consultation captures bespoke risk appetite, assets, threats and impact levels to set protection baselines.

The risk assessments are conducted via a mobile app comprised of 38 pre-configured questions replicating NPSA best practice security guidelines.  

The output is dynamic risk dashboards where every site can be examined at a granular level, drilling down into asset-level data to identify areas of concern and evaluate security measures to ensure correct outcomes. 

This quantitative approach to physical security and use of data-driven models will offer robust insight and help security professionals make smarter, cost-effective decisions. 

Problems with risk management today 

The world of risk has evolved, but not how it is managed. The traditional, pen and paper or excel based approach led by a single consultant involves inherent flaws, including: 

• Inaccurate risk modelling: Traditional physical security risk assessments often rely too heavily on subjectivity, leading to inaccuracies and inconsistencies in identifying and prioritising security risks
• Lack of actionable data: Reports are undynamic, making it difficult to analyse risk assessment data and changes to the threat landscape. This makes it harder for security professionals to act and prove results
• Slow turnaround times: One consultant could take weeks to complete the necessary risk assessments, resulting in mounting costs. Then comes lengthy report writing, dragging out the process further
• Overprotection of assets: Traditional risk modelling often leads to lack of integrated consideration of assets and unnecessary expenses

A better way 

TKC’s consultancy division, TKC Consult, set out to address these challenges through technology.

Led by in-house risk experts, Rachel Webb, Chief Commercial Officer and Oliver Rutt, Head of Risk Consultancy, the result is a process across three phases: 

1. Risk experts deep dive into a client’s estate, setting a protection baseline recorded directly to the platform. Data on crime, deprivation and environmental factors also give accuracy to the threat landscape 
2. Thorough app-based digital site risk assessments capture existing mitigations and vulnerabilities and can be done by any professional person at speed 
3. Risk dashboards demonstrate whether protection baselines are met, not met or excessive. The client can filter by BAU and heightened security scenarios to understand if protection meets baselines 

The results? 

• Cost efficiency: Transparent data helps reveal where to replace over-investment into lower-risk areas with intelligent, targeted resource allocation  
• Inconsistencies and biases eliminated: The methodology is solid, built on NPSA best practices, ISO and global risk management standards 
• Quick answers: A digital approach means portfolios of any size can be assessed rapidly by any professional person following standardised, guided assessments  
• Audit trail: The impact of security adjustments over time can be evidenced easily  

“TKC have a tech-first ethos”

The Risk Management Tool is the brainchild of Rachel Webb, a Chartered Security Professional and Professional Doctorate candidate in Security Risk Management.

“This tool has huge potential to help security professionals take creative control of their security outcomes and feel confident using data to spend their budget effectively and implement changes that will have a marked impact on safety,” said Webb. 

For TKC’s CEO Charlie Gordon Lennox, this launch marks a new chapter: “TKC have a tech-first ethos, which has enabled us to transform how mobile services are delivered across the UK.

“Introducing dynamic and accessible risk information into our platform further transforms our client’s ability to improve their security position.

“This link between risk requirements and service delivery is truly unique in the market.”