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Software, Data & Analytics

SMX is a cybersecurity solution to protect industrial operators against USB threats.

Secure media exchange keps human authentication part of USB security

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At the ARC Forum in Orlando Honeywell announced the latest release of Secure Media Exchange (SMX), a cybersecurity solution to protect industrial operators against new and emerging Universal …

A new report reveals manufacturers are at risk from inflated costs The shockingly high cost of protecting against cyberattacks has been revealed with the manufacturing industry forking out around £2.12bn annually to combat the growing threat of data breaches and system outages. Research from AVORD – a security testing platform – reveals that 89 per cent manufacturers have seen an increase in the number of data breaches over the last five years. Opportunistic multi-national consultancies are being blamed for inflating the price of security testing in the UK, with many manufacturers being charged inflated prices to conduct tests on their critical assets. And with increasing fines for manufacturers found to be in breach of industry regulations, the cost of hacking can be huge. Consultancies taking advantage The findings put the spotlight firmly on the security testing market, which is dominated by consultancies who provide services to businesses, sometimes at twice the daily rate of an independent tester – often referred to as ethical hackers. With 77 per cent of UK businesses claiming the cost of testing is too expensive, there is a clear demand for change. Over three quarters of manufacturers outsource their cybersecurity testing according to the research, with 73 per cent increasing the level of security testing on the Internet of Things (IoT). A surge in cybercrime Worryingly, 40 per cent of manufacturing companies have battled an online security breach in the past 12 months, which have directly hit their bottom lines through costly fines and loss of business. However, with cyberthreats constantly evolving and changing, nearly three quarters said that approving the target and regularity of testing is the biggest difficulty when it comes to cybersecurity. Over the past five years, most companies have seen a major increase in the number of data breaches: one in five reported an increase of between 11 and 20 per cent, while more than a half reported up to ten per cent more data breaches. The true cost of cyberattacks As new emerging technologies are deployed, and applications increasingly underpin core business processes, firms across the UK claimed that cybercriminals are creating new ways to exploit vulnerabilities, which is putting increased stresses on them at an already challenging time. The impact of breaches in the past 12 months has been wide spread, with 85 per cent experiencing a fine from regulators and 78 per cent reporting a loss of customers. Almost all companies confirmed that the breach was at least partially due issues in the security testing process. A new era in security testing AVORD promises to slash the price of security testing, with its free online platform bringing 1000s of highly qualified security testers together with UK businesses. The brainchild of two career security professionals, who have seen the market monopolised by major consultancies, it will enable companies to reduce their costs by 30-40 per cent. “Quite simply, security testing has become too expensive for many UK businesses,” Brian Harrison, founder and CEO of AVORD, commented. “Companies are struggling to cope with the ever-increasing threats impacting on their attempts to secure systems at current costs. Unless something changes, businesses will be forced to cut corners, and this will inevitably mean there are more data breaches and system outages. “AVORD has been designed to disrupt the current security testing model by cutting out the costly ‘middle-man’ consultancies and allows businesses to directly manage and engage security testers. This means that whereas industry currently pays up to £1,100 per day for cybersecurity testing, that cost will be reduced to approximately £600, collectively saving UK businesses around £3bn annually.”

Manufacturers hit by £2.12bn security testing bill

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A new report reveals manufacturers are at risk from inflated costs The shockingly high cost of protecting against cyberattacks has been revealed with the manufacturing industry …

Royal HaskoningDHV strengthens its predictive simulation capabilities

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Engineering and project management consultancy Royal HaskoningDHV has acquired Lanner, a UK-based hybrid software & consultancy firm specialising in predictive simulation for industrial …

IoT Solutions World Congress will display ten practical uses on industrial internet solutions

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A smart platform to control water quality in Alaska and save Beluga whales, smart home gate capable of opening at the owner’s arrival or transforming your garage into a giant letterbox for …

Alex Lipman talks at PTC LiveWorx 2018 event in Boston

IN CONVERSATION WITH …. ALEX LIPMAN

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At the recent PTC LiveWorx 2018 event in Boston, Alex Lipman spoke about his passion for innovation and the future for mixed reality Alex Lipman joined Microsoft almost two decades ago. Over …

A major challenge in undertaking a digital twin process can reside in determining the optimal level of detail

How to get started with digital twins

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Given the wide applications of the digital twin, how does one get started? Aaron Parrott, specialist leader in Deloitte Consulting LLP’s supply chain and manufacturing operations service …

Working with twins

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The digital twin is becoming a pervasive technology but what exactly can it do for manufacturing companies and how can they create value from it? Mark Venables spoke to Michael …

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Making an impact in the real world with digital twins

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Zvi Feuer, senior vice president, manufacturing engineering solutions at Siemens, and Zvika Weissman, industries and production management director at Siemens Industry explain the …

The alliance will offer customers a seamless solution by marrying information technology (IT) and operational technology (OT)

Full OT/IT coverage enables seamless end-to-end digitalisation

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Industrial systems integrator, Boulting Technology, has today announced a new alliance with NETbuilder, a leading provider of software and IT consulting services. The alliance will enable …

NI accelerates beyond the speed of innovation with LabVIEW 2018

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N I, the provider of a software-defined platform that helps accelerate the development and performance of automated test and automated measurement systems, has announced the release of …

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