If you’ve ever lost or had your wallet stolen, you know the feeling of panic it can cause. All of your identification gone – driver’s license, credit cards – as well as any money and/or personal items, and all very likely in the hands of someone who has no intention of returning any of it. You’re now faced with cancelling all your cards, re-applying for your license and dealing with the consequences of any bogus charges made in your name. It’s a costly situation both in time and financially.

When a business is faced with a loss due to lost or mismanaged keys, the sense of panic is also there along with even greater costs related to time and money. Depending on which keys are missing, locks will have to be re-keyed, inventories will have to be taken or audits performed, lost or damaged items replaced and a follow up investigation to determine who may have been responsible or who last had the keys. A policy review may even be initiated to help ensure that keys are better managed and controlled and that measures are put in place so that the situation does not re-occur.

In these instances, many organizations turn to automated key control systems to maintain a more strict accountability for keys. Where old-style key boxes could be easily forced open and keys removed, modern key management systems offer a variety of secure access options including PIN codes, biometrics and ID card access. And for durability and security, key cabinets are constructed of stainless steel to better resist abuse, and are wired with tamper-proof mechanisms. When network enabled, advanced key management and control systems can provide real-time information remotely to management for monitoring and recording data regarding who has accessed keys; the system can also send emails and text messages when a key becomes overdue.

There is no price that can be put on peace of mind but the use of an automated key control and management system can be a solid first step in having firmer control of high value keys.