Author: Geokey Marketing Team

Covid-19 has had a tremendous impact on society, with the tech sector adapting in response to the crisis. Of all the changes, technology progressed a lot as people looked for ways to navigate social distancing, remote work, and the need to decrease operation costs. Access control is one of the industries that saw this change, particularly as people sought ways to mitigate touching surface areas that might be contaminated. Even beyond the dangers and fears of the pandemic, people are seeing the benefits of bringing access control into the new century as society embraces the Cloud and online technologies, opening new possibilities for how we engage with data and tech.

While certainly not a new concept, the idea of Software as a Service (SaaS) saw a boost in popularity. A company based around SaaS specifically creates software that it leases out to people, hosting global data centers and charging people to use it. While this concept was started in the 60s, implementing the Cloud in the modern era has allowed people to embrace this business model as data centers can be accessed from anywhere in the world (Literally!). Geokey is one of many companies that are now utilizing the SaaS model and evolving it alongside access control to create Access Control as a Service (ACaaS).

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What is ACaaS?

Access Control as a Service follows the same tenants of subscription-based Software as a Service, though in the context of access control. Although the specific hardware remains on-site, whether a door controller or a deadbolt, the software integrated into the hardware is managed in an off-site data center. Thanks to advancements in the Cloud, the possibilities of embracing this sort of service become much more viable and less time and money-consuming. It allows for firmware systems, which we have discussed in previous articles, to become obsolete since cloud-based software can be automatically updated and maintained from the data center on a needs basis rather than requiring manual updates at individual pieces of hardware.

There are a lot of benefits to embracing ACaaS over more legacy systems:

1. Minimal Cost: The upfront cost of running ACaaS is much cheaper than you might believe, as well as being cheaper to maintain. It brings the ease of modern digital access control systems without needing extensive on-site data centers that constantly require maintenance, refurbishing, troubleshooting, and energy. This saves money initially, as well as in the long term.

2. Accessibility: Because the data is centralized in one location, companies offering ACaaS tend to run their centers 24/7 and provide constant on-demand support. This allows businesses to manage, give permissions where needed, and leave all the back-end work to the professionals rather than needing to figure it out themselves or spend additional money for maintenance.

3. Secure: While cyber threats may be considered a concern, established ACaaS companies have their data very secure, with top-level encryptions running through secure Cloud platforms such as Microsoft Azure. If anyone wants to hack into your access point, they will have to fight through an encrypted fortress built to resist cyberattacks to do so.

4. Convenient: Strong security does not compromise ease of use. When it comes to mobile-based access control, the goal is to make life easier for everyone, from managers to employees/tenants, without sacrificing privacy and security. Administrators can manage who has access to their property. At the same time, users can easily swipe to access the places they have permission to use. It should be easy to navigate and understand on any tech level.

5. Environmentally Friendly: In a previous article, we discussed how utilizing Microsoft Azure and being cloud-based was a cheaper and cleaner alternative to hosting on-site data centers. If you want to look at some of the incredible statistics we pulled, go check the article out!

Geokey and ACaaS

Geokey is based on the ACaaS business model and has all of the benefits listed above. By integrating with reliable hardware partners rather than developing it ourselves, we are able to focus entirely on our strength: creating and managing top tier and easy to use software. It also allows Geokey to be very versatile in what it offers, integrating with both indoor and outdoor hardware and offering users access to everything right from their phones. Our app keeps track of the points you’ve been granted permission to access and is a lot easier to manage than a ring with twenty keys on it!

Following the PSIM 2.0 system, Geokey combines smart access control with data analysis and puts the power in the hands of property managers. They can give and take access away with a single click and look at data to see what buildings are being utilized and how often.

Geokey runs through Microsoft Azure, ensuring our software is highly encrypted, and your data is secure. Managers have access to the tools and data they need when they need it without paying for on-site data centers or paying for maintenance. Managers pay by access point, not user, and because over 90% of the world’s population owns a smart device, there is no need to pay for new keys, cards, or firmware. Everything can be automatically updated and managed right through the Cloud!

If you want to learn more about how Geokey can revolutionize your access control, schedule a 20–30-minute demo with one of our outstanding reps: we would love to help show you how Geokey can meet your needs as a business built around Access Control as a Service.

Geokey, Inc., an access control-first software platform for residential and commercial real estate markets, today announced it has successfully closed on a $2,000,000 Fundraising Round.

Geokey provides innovative software and hardware solutions to transform access control in the residential rental real estate market.

The round, strategically led by 29SC Ventures, LLC, the venture arm division of the multifamily owner 29th Street, will enable Geokey to expand its reach to more multi-family apartment properties across the nation and further enhance the Geokey platform with additional integrations and features.

“Our goal is to provide a more holistic software experience to our clients and their residents, creating opportunities to increase NOI and streamline operations, while bringing a hardware agnostic, cost-effective shift to owner’s adoption of smart-access control,” said Brandon Peterson, Geokey’s CEO.

“Geokey’s patented location-based technology, coupled with their hardware-agnostic platform, provides owners with the opportunity to retrofit existing assets in a significantly more cost-effective manner, as well as rethink and eliminate certain hardware packages on new developments. We are pleased to bring our capital, existing and developing assets, and our team to partner strategically with Geokey in the access control space,” said Mark Chrisman, Managing Principal, 29SC Ventures, LLC.

Geokey has proudly partnered with numerous other organizations and manufacturers and integrated with several different products serving a wide range of functions. Providing a one-management, hardware-agnostic solution to access control, they have and will continue to give other industries, ranging from multifamily to commercial properties, the opportunity to take control of their security while increasing their properties NOI.

Environmental consciousness has been a big topic of conversation over the past few decades, with many people wanting to do their part to preserve the world we all live in. A significant aspect of this conversation has resulted from what businesses can do, whether it comes to how they utilize natural resources or their business practices. As stewards of the environment, we must examine ourselves and whether our impact on the world is positive.

The access control industry is not exempt from the tough questions about its impact on the environment. Plastic key cards and fobs are made to be disposable. It is any wonder how many consumable cards sit rotting in a landfill or end up in the ocean whenever they become damaged or expire beyond their limited use. Even with the creation of cards made with biodegradable parts, there is still a cost when it comes to mass manufacturing them. Manufacturing increases our carbon footprint, and constantly generating thousands of new consumable cards does nothing to bring that down. Large electronic systems are not exempt from this either. Large server rooms or data storage can consume a lot of electricity, which needs to be generated through power plants burning fuel.

Considering both the physical and digital halves of the industry generate waste to one extent or another, it might seem hopeless: you should not have to choose the lesser of two evils to keep your property secure. Geokey’s access control solution mitigates these concerns with its innovative software that eliminates the need to make keys while using the power of the cloud.

Geokey’s most prominent solution to those looking to lower their carbon footprint is how it utilizes keys. Or, to be more precise, its lack of physical keys. Geokey’s software employs a digital key, turning the user’s phone into a means to unlock doors. Geokey’s solution eliminates the need to manufacture keys that need to be replaced in a few months as the phone becomes the only key the user needs. Acting as both the credentials typically found on a card and the reader, the app can unlock any doors the administrator permits it to open, making it as secure as it is eco-friendly.

While this solves the problem of material waste, we also made the claim Geokey had a solution to the electric waste problem. How can a system that relies on technology not require properties to install servers to log all its users or Wi-Fi to interconnect everything?

Geokey is cloud-based, meaning all its data is stored and accessible online. Being cloud-based, combined with global administrative rights granted to property managers to access their data, means properties do not need to store their data. Because Geokeys are sent through Bluetooth, properties do not need a community-wide Wi-Fi network to interconnect all their devices.

Geokey also puts this into practice in how it runs its servers. Because our software runs through Microsoft Azure, we do not need on-site servers to manage our data. According to Microsoft, Geokey’s current emissions output is 0.02 metric tons of carbon dioxide equivalent (mtCO2e). If Geokey ran a typical on-site data center, our output would be 13.59 mtCO2e. Those emissions savings are comparable to about 33,000 miles of driven distance! Geokey’s access control solution is as eco-friendly as it is secure. While providing consumers with an easy and secure access solution, it also provides ease of mind knowing they are utilizing a product that, compared to the rest of the market, has less of an environmental impact.

With the recent progress made in the tech field, spurred on by the Covid-19 pandemic, many companies are turning to the cloud and smart devices for further advancements. With over 86% of the world owning smartphones, finding ways to make hardware compatible with phones is the next step. By integrating hardware with mobile solutions and applications, work processes can be simplified and more efficient, saving a company time and money. Geokey, for example, integrates with several pieces of hardware, ranging from door controllers to padlocks, and allows the user to access and unlock with the swipe of a finger.

This, however, is where many companies stop: integrating software with a single purpose and not going much deeper than that. If companies want to harness the full potential of this solution, they need to be willing to go deeper than a singular purpose. Geokey thrives in being able to tell its clients that the app can go the extra mile and do a lot more than “just open doors.”

PSIMS 2.0

While many mobile solutions look to utilize a single purpose with its integration, Geokey emulates the old Physical Security Information Management Systems (PSIMS). PSIMS connects several other security, analytic, and access control hardware, allowing personnel to manage from a single point, usually a security room. Geokey has taken this idea of taking multiple pieces of hardware from several different manufacturers and allowing you to control them from your smartphone.

Integrating several pieces of hardware, such as door controllers and padlocks, into a smart device through the cloud allows Geokey to be a very adaptive and versatile access control solution. The range of integrated hardware enables property owners to utilize Geokey in a variety of ways and be able to control a lot of different kinds of access. Because Geokey is also rooted in the cloud and has Global Administrative Access, administrators can access their hardware anywhere in the world across several different facilities and locations.

Analytics

An overlooked aspect of the PSIM system was that it also managed information on top of security. Analytics and reports on who accessed what and when they did it is recorded and available to system administrators. Geokey offers an advanced form of reporting and analytics, allowing administrators to collect these insights to help businesses optimize their access control policies and make informed decisions.

Customizable

Another thing about Geokey is the fact that, playing into its strength of versatility, it has customizable user roles and scheduling. Geokey is hardware agnostic, acting as both the reader and the credentials to access a lock. As such, administrators can customize the credentials on the app and allow certain users only to be able to access particular points (even restricted to certain times) from their phone without manually reprogramming a reader. This level of customization helps ensure that only authorized individuals have access to specific areas at specific times, which is applicable for everything from restricted areas of the workplace to someone’s apartment.

Partnerships

Geokey, even with all of the features above, is still just software. Because of this, Geokey has partnered with several different hardware manufacturers that create numerous controllers, padlocks, and handles that the software integrates with. Through forming these partnerships, Geokey can expand its umbrella to continue providing clients with innovative access control solutions to match their needs.

Conclusion

With everyone seeing the benefit of integrating hardware with mobile, the need to go deeper and explore all the avenues of integrating with smart devices is crucial. Geokey can recognize these avenues and utilize them to grow as a business that can supply property managers with the access control systems and software they need to take control of their facilities.

While the traditional lock and key is still widely used today, fobs and readers have been the top of the line regarding high-quality access control for the past several decades. While the means have changed over the years, the process has remained relatively the same: a panel near a door scans a card, magnetic strip, or fob sensor, reads the transmitted credentials, and, if approved, grants access. Fobs specifically emanate radio waves that the electronic reader picks up, serving the same purpose as a card without needing to be as precise.

Compared to the lock and key, it isn’t hard to imagine why it has become prevalent for businesses and apartments. Where hundreds of team hours and thousands of dollars each year would go to copying keys and rekeying locks, the fob allows tenants to provide and restrict access to employees and tenants on a broad scale, allowing them to access certain areas vs. denying access to locations they shouldn’t. It is a lot less of a headache to manage, at least compared to what preceded it.

However, as is the case with a lot of technology, the system is quickly becoming obsolete. The reader’s basic programming comes from the firmware inside of it, which holds the list of what fobs are allowed access and not. The firmware is hard to program, and if permissions need to be added or changed, it will have to be manually installed into each reader. This severely limits where apartments can implement these readers, which tends to boil down to communal areas, clubhouses, pools, and amenities. The use of firmware as a credentials reader also raises an issue of propriety: the manufacturer of the reader will only allow their credentials to be used with their reader. This can limit the reader’s usage even more, as property managers need to choose between implementing the hardware in select areas (while using keys for everything else, defeating the purpose of upgrading and resulting in more wasted team hours) or relying on different manufacturers for different access points (forcing managers to juggle numerous fobs and apps). That doesn’t even mention the security risks of people holding on to fobs once they leave a property or getting their hands on fobs that are not theirs.

The solution to this problem is to look beyond the firmware and create hardware-agnostic products. Hardware agnostic is an IT term that, according to Technopedia, is a system “that do(es) not require any special hardware adaptations and can work with different types of systems without suffering compatibility issues.” Regardless of hardware or manufacturer, it can be compatible with external systems, meaning it does not require firmware to read the credentials. Geokey is a hardware-agnostic software that can fit into this role and addresses many of the issues presented by a reader-based system.

Without firmware and a reader, how can Geokey unlock doors

Geokey acts as both the reader AND the credentials, allowing it to unlock a door controller with a simple swipe. Because it is connected to the cloud, the app can unlock the door from anywhere and doesn’t require proximity or a Wi-Fi connection. Property managers can now grant and remove access to users through their phones: no manually updating firmware to readers. This ease allows Geokey integrated hardware to be put anywhere without creating a logistical nightmare

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How does this fix the propriety issue?

Geokey only creates software, integrating with various manufacturers and partners to give property owners the access control solutions they need. From door controllers to padlocks and outdoor intercom systems, Geokey and its partners are prepared to fill any gap a business or complex might need. This allows property managers to control everything under a single umbrella and not have to mishmash with other systems or fall back on keys (saving you all those team hours).

Geokey’s hardware-agnostic solution extends beyond hardware integration, as it can also integrate with other software. This can be appealing for apartments that have resident experience apps, which can make requests to see if we can integrate. That way, you can draw traffic to the app and simplify tenant life.

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What about security concerns?

Geokey’s access control solution is run through Microsoft Azure, ensuring it is encrypted and secure: only property administrators, tenants, and approved parties will have access. No more worrying about lost or stolen fobs and keys.

On top of this, Geokey allows managers to collect live data on when doors are accessed. The Live Tracking tab will show who is swiping, which access point they unlocked, and when they did it.

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Conclusion

With technology continuing to progress, the move to a mobile-based, hardware-agnostic system is the future. While secure, it creates ease of access for tenants and can fulfill the needs of property managers. It gives administrators an umbrella to manage all their access control needs while not being a “one-size-fits-all” approach.

As new security hardware continues to advance into the future, so too do the methods of those looking to subvert it. While traditional access control and security methods, such as locks and cameras, might work well as a crime deterrent, a determined individual can analyze and work around the flaws in such systems to get what they want. To address this, the way we view security needed to change: one system was no longer enough to address the problems: rather, a system that combined security, data collection, and access control had to be created. This is where the original PSIM system emerged.

What is PSIM?

PSIM, also known as Physical Security Information Management, connects several unconnected security systems and manages them from a single point. The system can sift through and audit the data from these different points, allowing administrators to see everything on their property. The PSIM system has been used since the 90s, managing security technology and analytics for everything from corporate buildings to city police. When first introduced, the software would usually be implemented in a security room, with numerous computers compiling and storing the data from all its connected parts.

There are a few key factors that make up a fully functioning PSIM system, which include:

1. Data Analysis: PSIM collects data from all of the integrated systems and allows the administrator to view it.

2. Verification: PSIM will present the most relevant data to the administrator.

3. Auditing: Data is stored and categorized to draw on quickly.

Thanks to the cloud and modern technology, Geokey can bring the PSIM system into the future with PSIM 2.0.

Why do we Call Geokey PSIM 2.0?

Geokey, through its innovative access control software, can utilize the tools that make PSIM such an effective security solution. What once took a vast system hardwired into a building can now be managed from a smart device in the palm of your hand!

Because Geokey is hardware-agnostic, meaning it can integrate with different unconnected systems, the software can manage a wide variety of hardware. The Geokey app can integrate and unlock these systems, as well as collect analytical data from them. This data shows everything, such as when a door is opened to who unlocked it, providing a comprehensive security solution. Where the old versions of PSIM required it to be hardwired into the building and connected to the system itself, Geokey utilizes the cloud to control and collect data from a smart device. Administrators can fully use the functions of Geokey, from unlocking doors and granting user access to looking at analytics anywhere in the world, thanks to its connection to the cloud. Geokey users don’t even need wi-fi to view and access the integrated hardware.

Geokey is constantly finding new manufacturers to partner with. The list of hardware our software has integrated with continues to grow in order to fill the vast array of needs business and property owners need filled when it comes to security. From door controllers to padlocks and even building intercom systems, Geokey-compatible hardware can be installed into any access point to give managers control of their building. And, because Geokey’s software is built upon Microsoft Azure, it is a secure solution to manage building access.

In a world with evolving threats, property owners need to know their buildings are secure and under their control. Through Geokey, managers can have this security and control, knowing they can control who can access their property and have the data they need at their disposal.

​Geokey is proud to announce its partnership with Master Lock, a longstanding and reliable security hardware manufacturer. From their first padlock created in 1921, Master Lock has empowered people with the confidence to safeguard what they love most for over 100 years. With this partnership, Geokey will bring its innovative mobile access control technology with Master Lock’s high-quality hardware to provide a secure solution for everything from multi-family apartments to schools.

One key outcome of this partnership is integrating Geokey into Master Lock’s Bluetooth-compatible products, ranging from door controllers and deadbolts to smart padlocks. With the strong and reputable hardware of Master Lock, Geokey’s simple and efficient software paves the way for providing total security control and access through a user’s mobile device. This wide array of solutions will allow consumers to protect and manage storage units, doors, lockers, businesses, fences, and more. The partnership will offer property managers and individuals convenient, secure, and affordable access control solutions, no matter their needs.

Brandon Peterson, CEO of Geokey, expressed great enthusiasm in his statement on the partnership. “This partnership is a major step forward in our mission to revolutionize the multi-family apartment industry. We believe that the combination of our technology and Master Lock’s hardware will have a significant impact on the industry, offering property managers and residents a convenient, secure, and affordable solution for access control. We are excited about this partnership and look forward to working with Master Lock to bring our vision to life.”

David Youn, President of Master Lock, expressed optimism about the partnership’s benefits. “At Master Lock, we have a rich history of leveraging technology to create innovative solutions, and for over a century, our customers have trusted us to provide the most reliable and easy-to-use security and safety products on the market. Our partnership with Geokey allows us to offer a world-class mobile access solution, whether you are managing one property or thousands.”

About Geokey

Geokey is a mobile access management system for businesses. Users can now easily access any door, gate, elevator, padlock, etc., right from their mobile device. Property owners and managers can send out Geokeys remotely, receive full data analytics of their business, and set customized user roles from one cloud-based platform.

Time is money, and that is why Geokey was developed for you, the business owner. Geokey is the product you can trust to manage your user base, members, or tenants. No more changing locks or worrying about who can get into your building. Geokey has you covered. The future is here, waiting for you to take control. Let Geokey revolutionize your business today.

About The Master Lock Company and Fortune Brands

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The Master Lock Company is recognized around the world as the authentic, enduring name in padlocks and security products. The Master Lock Company offers a broad range of innovative security and safety solutions for consumer, commercial, and industrial end-users. We are part of Fortune Brands Innovations, Inc. (NYSE: FBIN), headquartered in Deerfield, Ill: a brand, innovation, and channel leader focused on supercharged categories in the home products, security, and commercial building markets. Visit www.masterlock.com and www.FBIN.com to learn more.

The world is constantly changing, with innovations continually shaking things up. These innovations have always impacted our lives, from the creation of smartphones to the newest cars on the road. This is the same for multi-family properties, as smart technology becomes more common with new developments, especially regarding access control.

However, this raises many questions for multi-family managers using the old lock and key or fob reader system. Why should retrofitting even be considered a valid option when the old way of access control still works perfectly fine? With Geokey, there are plenty of benefits to retrofitting that will both save and make you money down the line.

Attractive Amenity

In a study conducted by NMHC/Grace Hill on amenity preferences last year, over 60% of the 221,000 renters claimed they wanted smart locks as an amenity, with 62% wanting smart security in general. Beyond that, 71% of participants expressed a high interest in building and amenity access control in general.

In that same survey, almost half of the millennials and Gen Z participants stated they viewed smart tech, particularly smart locks, as a higher priority amenity than parking space. These participants even went on to say that smart tech could be a deciding factor in whether they go with one apartment or another! As technology continues to grow and evolve, more people from all demographics see it as the future of comfortable living. With such a growing number of renters seeing the benefits of smart access control and security, having your multi-family invest in it seems like a smart choice.

Less Hassle, More Security

What exactly makes smart access control solutions such an appealing amenity, given the growing number of people asking for them? For one, it makes everyday life much easier and less of a hassle. While having a large ring of keys can be challenging to manage (one for the building, one for the room, another for the mailbox, and others to who knows where), Geokey’s solution allows you to simplify and manage all of the access control on a property from the security of the user’s phone.

This solution doesn’t just create less hassle for your tenants. With our system, you can easily grant and manage who has access to your property and at what time, making move-in and move-out dates easier. Now you don’t need to waste time and money rekeying locks, copying more keys, or changing easily leaked passcodes when you feel security is compromised. With Geokey’s management system, you don’t have to worry about former tenants holding onto old fobs to access resident-only amenities. A mobile-based, smart access control solution makes life easier for both tenants and managers.

Save Money and Increase NOI

One of the most significant reasons to retrofit your old apartment’s access control is because, for an investment in the present, you can see a substantial increase in profits and Net Operating Income (NOI) down the line. How do we know this? Well, look back at everything we’ve talked about so far.

Remember in the last section how Geokey’s solution removes the hassle of rekeying your units whenever a tenant moves out or loses their key? Well, this solution also saves you the money of rekeying. With our all-in-one turnkey solution to access control, you can manage move-in/out days, access management, and simple yet effective security through your smart device. Because Geokey operates through Bluetooth and the Cloud, you don’t need to worry about bogging down or even owning a community wi-fi or expensive server equipment to manage everyone on your property.

That’s not even scratching the surface on how you can increase your property’s NOI. In another survey made in 2022 by Rent., the participating 1,546 renters claimed they would be willing to pay between $10-50 more per month to have smart tech implemented. This survey matches the NMHC study that showed Millennial and Gen Z renters (who are making up an increasing percentage of those going into multi-Family apartments) would pay more to live in apartments with said amenities.

Why Geokey?

Geokey’s mission focuses on more than just providing people with a secure and simple access control solution. Our main goal is to come alongside property managers and business owners to provide an affordable turnkey solution that protects your assets, keeps money in your pocket, and helps provide you with another way to generate income.

Geokey is a software company that has had the privilege of coming alongside some exceptional hardware manufacturers to help provide you with a customizable solution that fits your needs. We want to partner with you as we work to unlock the world around you.

The Global Market is Demanding Better Access Control Solutions
(And Where Geokey fits in to Provide)

With all the turmoil and uncertainty in the world today, people are looking for security more than ever. Whether you live in an apartment, run a small business, live in the city or halfway across the world, people are looking for more and better ways to keep their property safe and under control. This becomes very apparent if you look at the global market, and how market trends are revealing a growing interest in access control solutions.

According to Bloomberg, the forecast for electronic access control solutions predicted an increase, going from being worth 32,817.5 million in 2021 to 67,243.2 million by 2028, making a CAGR (Compound Annual Growth Rate) of about 12.7%. It is important to note that while this is on a global scale, North America remains set as one of the top regions to be affecting the market value.

There are a lot of factors driving this data and what is spurring the demand for control access solutions. When it comes to the residential and business owner segment of the market, the biggest driving factors for investing in control access is an uptick in organized crime, vandalism, and burglaries, and looking at the data it is not hard to see why. According to the Council on Criminal Justice, taking the statistics from 29 cities in the United States, burglaries have risen 6% from 2021 to 2022, with larcenies rising by nearly 20% in that same time frame. It is no wonder that people want to make sure their property is secure and are searching for better ways to control who is utilizing their space.

In that same forecast article, a challenge in the rising market is also presented: people are not aware that cloud-based access control exists. People will stick with what they know, and for many that is the classic key and lock solution or, as of more recently, a card/fob reader. It was noted that a lot of the market focused on an increasing demand of these card/fob readers, with consumers asking specifically for “smart cards” that allow the company to track who enters a space and when.