New Security Industry Association (SIA) member TAMCO has more than 25 years of experience in technology financing in security, audiovisual (AV) voice, video, data, the Internet of Things (IoT), cybersecurity, storage devices, digital signage and more. TAMCO partners with companies to provide value-added total solutions for their’ technology needs. The company is headquartered in Clearwater, Florida, and works with integrators throughout North America.
SIA spoke with Paul Metzheiser, managing partner at TAMCO, about the company, the security industry and working with SIA.
Tell us the story of your company.
PM: TAMCO was founded in 1994 by Jack Thompson, who had a unique background that included technology integration, finance and sales. Leveraging that expertise, he wanted to build a company that would introduce a finance offering and business model that addressed the pitfalls within cash and traditional lease procurement methods. The design of this finance offering was under the premise that most technology solutions are non-revenue-generating assets.
The goal was to give the end-user customer a better way to pay with more control and flexibility as they entered in and out of technology life cycles. At the same time, this new offering would give integrators easier ways to sell services with those technologies while shortening the sales cycle.
What solutions/services does your business offer in the security industry? And what makes your offerings/company unique?
PM: TAMCO is a uniquely positioned company, and while we play in the finance space, we are not a leasing company. We help security integrators build recurring revenue through the bundling of security equipment as a service and provide the financial backing and sales support so that integrators can make the pivot to sell using a security-as-a-service model to end customers. Integrators still receive the full payment for their projects upfront and then receive a monthly payment from their customers for service and support.
What’s something we might not know about your company – or something new you’re doing in security?
PM: Sometimes integrators peg TAMCO to particular technology system sales. For instance, security integrators know we can help with security solutions sales, and AV integrators know we can help them with AV sales. What some integrators may not realize but are pleasantly surprised to learn is that TAMCO helps integrators make the shift to an as-a-service sales model for a broad range of technology sales, including AV, security, network infrastructure, wireless and IoT.
What are the biggest challenges facing your company and/or others in the security industry?
PM: Cash flow is one of the biggest challenges faced by security integrators, especially during times of an economic downturn. Historically, integrators have done a great job of getting customers accustomed to cash purchase transactions, but this does not create any recurring revenue for them or financial stability in the future. For their businesses to thrive, they need to complement their one-time-project-based revenue business with a model that also incorporates a regular stream of revenue by offering different levels of ongoing support and service to customers and the systems they install. Many integrators, however, are not sure how to pivot to this new approach, and TAMCO will provide them with assistance.
What do you enjoy most about being at your company – and in the security industry?
PM: What we do at TAMCO is great. We help integrators strengthen and position their business for long-term financial sustainability. We really enjoy building relationships with integrators and helping them to make their companies more successful.
What does SIA offer that is most important to you/your company? And what do you most hope to get out of your membership with SIA?
PM: The opportunity to connect with and help the security integrator community. Although TAMCO has been around for over 25 years, we are a boutique finance company catering to the niche of technology equipment as a service. The current marketplace has created the perfect storm of value and relevance for integrators and their end customers; however, we see time and time again how integrators struggle to align with an as-a-service sales model. We believe our membership in SIA can facilitate connections with those integrators who would like assistance with this type of shift.
How does your organization engage with SIA? What are your plans for involvement in the next year?
PM: We recently participated in a SIA webinar on the topic of Security as a Service: The Move Toward Recurring Revenue Models During the COVID-19 Crisis, and we look forward to becoming actively involved in other opportunities with the SIA organization.
The views and opinions expressed in guest posts and/or profiles are those of the authors or sources and do not necessarily reflect the official policy or position of the Security Industry Association.