SIGNET Electronic Systems, Inc. has been ranked number 97 in the 2016 SDM 100 report, putting the company on the map as a national leader among security providers. SIGNET is a systems integrator providing technology solutions in integrated security, communications, healthcare communications, life safety, and audio visual. While the company is experiencing overall growth, integrated security sales accounted for a significant portion of SIGNET’s total annual revenue in 2015. “Security is where we’ve seen the most growth within the company,” said Bradford S. Caron, president and owner of SIGNET.
The 2016 SDM 100 ranks the 100 largest U.S. security companies serving both residential and nonresidential customers according to their recurring monthly revenue (RMR) as of December 31, 2015. The primary objective of the report is to measure consumer dollars gained by alarm companies in order to present an account of the size of the market captured by the 100 largest security providers.
According to the 2016 SDM 100, 84 of the 100 companies ranked in the report experienced RMR growth in 2015. While the average rate of 2015 RMR growth was 10 percent, SIGNET’s RMR growth was up 26.5 percent from 2014 in comparison. SIGNET’s RMR growth strategy is to focus on large service agreements with enterprise type clients.
Most of the SDM 100 companies expressed that their 2015 sales and financial performance were outstanding, and even record breaking in some cases, according to the report. Caron said that this claim resonates with SIGNET, but he qualified it. “While our overall profit margins are up, it is not entirely a result of the security segment of our business,” said Caron. “That distinction is what makes us unique among the companies on this list. We are a true systems integrator, while the majority of the companies ranked are security companies. Security solutions account for only a portion of our revenue, and even with that, it is substantial enough that we find ourselves among the top 100 providers. This is significant.”
Most of the revenue generated by SIGNET’s integrated security business comes from the design and installation of new systems—including access control, IP video surveillance and intrusion detection solutions—to the K-12 and government sectors. However, the company does also provide security services including training, technical support, maintenance, monitoring and technology consulting. “Our expertise in technology is what makes us successful in this space,” said Caron. “We are IT engineers at heart, from the design and installation of a fully independent local area network system, to integrating a client’s security system with their existing network.”
Although educational institutions, medical facilities and transportation agencies are all among the markets served by SIGNET, most of the growth they have experienced as a security provider to date has been in the government sector. Large high schools, prisons, and police stations are typical security systems clients. “We are working to extend these service offerings to our existing clients in other industries such as communications and healthcare communications,” said Caron. “Our goal is to be a complete systems integrator for our clients across industries, bringing to the table truly integrated security platforms that are flexible and scalable. Earning our place on the SDM 100 shows that SIGNET is orobust enough as a true integrator to accomplish that goal.”