The importance of key management for a business

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More and more business security practices are going digital. Mechanical keys are still the backbone of most corporate security plans, and it can be very expensive for companies to switch to electronic access control on a large scale. Therefore, enterprises need to choose the most suitable access control system.

Key management is the process of protecting, tracking, and scheduling mechanical keys. Why is this important? Because the key carries access to sensitive locations and assets within the organisation, when you increase the security of the key, you can enhance the security of these valuable resources. The key management system also controls the cost of using physical keys. The system reduces the overhead caused by key loss or security breaches.

Some smaller companies may be able to adopt a paper-and-pencil key management protocol. Larger companies, or those who want to better understand and control keys, usually choose to use an electronic key management system.

The key management system can become the cornerstone of your key control process.
At the most basic level, key management systems can accomplish two things that paper and pen systems cannot: they store and assign keys securely, and they increase the efficiency of your organisation’s use of keys through automation and analysis.

What can key management systems do?
1) Improve access control
By better protecting the keys, you can improve the access control to the spaces and devices unlocked by these keys. You can use your key management to simplify the process of providing temporary employees with one-time-key access. In addition, the system can record all their key access records, so that everyone’s behavior can be traced.

2) Enhanced accountability traceability
The software is a good key management system that can generate reports on key usage, user access requests, access exceptions, and loss. In addition, you can track and audit key usage in real-time. Combined with a comprehensive key control strategy, you will implement better accountability for key use to meet any industry or risk management compliance standards.

3) Reduce costs and prevent losses
When an employee loses a key, you will incur direct costs, including purchasing a replacement key or relocking it when it is lost. However, the indirect cost of key loss is usually more significant. This is because employees first spend time looking for the lost key and then process the replacement request, all of which time is not spent on production work.

4) Improve workflow
As we discussed, keys are often used in important workflows. The key management system allows you to better control these workflows. A passive electronic lock system, also known as a key-centric access control system, has outstanding advantages in key management. Compared with the electronic access control system, the passive electronic lock system’s “passive” characteristics have reduced the update cost for many enterprises.