The construction industry is grappling with significant data security concerns as projects become increasingly digitised.
Recent findings reveal a stark contrast between the industry’s adoption of cybersecurity measures and its vulnerability to digital threats.
According to recent statistics, 75 per cent of global construction firms have invested in cybersecurity insurance to protect against potential financial losses from cyber incidents.
However, a report from the UK National Cybersecurity Centre paints a concerning picture, indicating that nearly half (47 per cent) of construction companies lack a formal cybersecurity plan, leaving them exposed to data breaches.
Leon Ward, Regional Lead for Australia + New Zealand at PlanRadar, emphasises the importance of data security in the evolving construction landscape.
“As construction projects become increasingly digitised, securing project data against threats is paramount to maintaining the integrity and success of the project,” Ward states.
The construction sector faces a range of cybersecurity threats, including cyberattacks, data breaches, ransomware, and phishing scams.
These risks not only disrupt operations but can also lead to significant financial losses and reputational damage.
To combat these challenges, industry experts recommend implementing robust security measures. multi-factor authentication (MFA) has been adopted by approximately 65 per cent of construction companies, while 80 per cent utilise role-based access control (RBAC) to manage data access.
However, there is still room for improvement, as 40 per cent of construction firms do not provide regular security training for employees.
The adoption of construction management software is proving crucial in enhancing data security. These platforms offer centralised data storage, built-in security features, and improved access controls.
Ward noted: “By integrating strong security measures, construction management software reduces risks, ensures compliance with data protection rules, and boosts overall project data security.”
As the industry continues its digital transformation, the importance of cybersecurity cannot be overstated.
Ward concluded: “Investing in secure software now will help future-proof construction projects of any size and scale against emerging cyber threats and potential vulnerabilities.”
With the construction sector increasingly recognising the critical nature of data security, it is clear that companies must prioritise cybersecurity measures to protect their projects, reputation, and bottom line in an ever-evolving digital landscape.