Electronic Key Management - Cost Considerations

Cost Considerations

An additional basis for utilizing a good key management system is the cost consideration. Lost keys cost organizations, institutions, and government more than $35 billion per year according to some studies. The cost of lost or misplaced keys results from time spent searching for keys and/or their holders, as well as the costs of replacing locks, cylinders, and keys, not to mention staff time and management time resolving lost key issues.