Digital transformation is at the heart of every industry. There are no longer any industries that are immune to the rapid adoption of this movement. When we think of the construction industry, we may think back to an image of ironworkers sitting over a city and enjoying a lunch break on a construction beam. However, rapid digitalization has transformed the construction industry and will continue to drive change and encourage innovation. The traditional ways of conducting business brings about additional risks and challenges that the industry has to solve.

While it is impossible to address every contingency, we can examine what may be the most prominent cybersecurity risks a construction company should be wary of.

What Exactly is the Digital Transformation in the Construction Industry?

Construction was once carried out via messengers who delivered contracts, blueprints and architectural drawings to site foremen. Logistics were controlled via telephone conversations and, in many cases, via word of mouth between project managers and owners that continued all the way down to line workers who could recommend various tradesmen for a job. Now, not only have the gender roles been expanded, but the entire industry is maintained in the same way as all businesses – through electronic communications.

Personnel can be hired via electronic means. Contracts can be digitally signed. And thanks to modern tracking mechanisms, supplies can be tracked from the factory to the construction site with remarkable precision. All of these developments place construction entities along the same spectrum as any other modern business.

Reputation Loss

When a company faces a data breach, the fact that all the customers’ private information ends up in the hands of the attackers isn’t even the worst part. This is data that was under the care and custody of the victimized company.When a breach (Read more...)