Data security remains top priority for IT Principals
VAR_Staffing / VAR Staffing
With more data and practices moving to a digital landscape, ensuring that the information is secure needs to become a top priority for IT Principals. A single mistake in a system can be industry changing.
A bad automated financial trade from Knight Capital Group in August cost the company $440 million in 30 minutes, disrupted the market, hurt customer confidence and has the Security and Exchange Commission considering new regulations for software that handles financial transactions.
Working with the Knight Capital incident as a backdrop, technology website CIO interviewed Richard Gardner, the CEO of Modulus Financial Engineering, about what companies need to do to prevent, avoid and mitigate risks associated with automated software.
"Of course, a computer can perform instructions much faster than a human, [but] a computer doesn't have the common sense to identify problems unless explicitly programmed to do so," Gardner said. "If the computer is not programmed to detect errors, it may accept erroneous orders and carry out the instructions – millions of times per second."
Gardner went on to say that cyber security should to be taken more seriously. Companies can start by creating a list of intellectual property that needs to be protected. This would include tangible things like email, sales figures and employees' personal information, as well as trade secrets like hardware schematics.
For IT Principals, securing information should be priority number one, even if it is a large undertaking. VARs and MSPs can be invaluable resources for IT decision-makers. Whether it's bringing talent in for permanent placement and long term solutions or a short form project-based risk assessment, a reliable Solution Provider can make all the difference.