Best practices
How Does Newforma Konekt Manage Your Data Security?
The construction industry is finally catching up with digitization, and an increasing number of firms, organizations, and software platforms store their data on the cloud. Which is great! But as for data security? It’s an understatement to say that the situation could be better. There have been many high-profile breaches in data security in the AEC industry in the past 12 months, including: The January 2023 data breach that cost Morgan Advanced Materials £12 million GBP The February 2023 Black & McDonald ransomware attack, which had implications for Canadian national security The May 2023 Vesuvius cyber incident, which eroded market confidence and resulted in a 3.5% drop in its share prices In fact, leaving aside these three high-profile cases, as many as 45 percent of construction firms report significant leaks of internal information in 2020.
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