The Travelers Companies, Inc. released its 2020 Travelers Risk Index report in October, specifically noting that an increasing number of businesses now list cybersecurity threats as their second most concerning issue during the COVID pandemic. As part of the report, less than half of the 1,200 business leaders surveyed said they had deployed hacker detection software, undergone a cyber risk assessment or come up with strategic plans to address cybersecurity. Meanwhile, 22% of businesses noted they had already fallen victim to a data breach. Construction Dive noted that hackers are increasingly targeting construction firms as large teams working with data and disconnects between the office and field offer opportunities that hackers can exploit. 

The Takeaway: This is yet another reason construction firms should consider modernizing their operations and putting connected, cloud-based software in place that reduces data breaches and helps mitigate cybersecurity risks. Generally, storing data and working in the cloud is safer than with on-premise software that consistently needs updating to provide the latest security protections. Modern platforms have some excellent security tools built-in, but they are only effective if deployed properly, so leveraging secure configuration expertise is also paramount for successful implementation.