Apr 04

2017

Is Smart Manufacturing Putting Your IP at Risk?

By Great Bay Software

 

Protect Your Intellectual Property

In a recent, post we talked about the growing trends and benefits of Industry 4.0. Also known as Smart Manufacturing, Industry 4.0 delivers highly accurate predictive analytics which drives a more innovative and competitive market. Here we expand on the rising threats of cybersecurity, which are inherent in the massive growth of IIoT and the merging of factory and corporate data and networks.

In the Crosshairs of Cybercriminals

Manufacturing is a “Top 5” target for sophisticated cyberattacks. Hackers are going after intellectual property, financial data and customer information. IP can constitute more than 80% of a company's value. No wonder that manufacturing leaders consider the theft of intellectual property as their number one risk.

A 2016 study from Deloitte and the Manufacturers Alliance for Productivity and Innovation (MAPI) reveals that 40% of manufacturing companies were affected by cyber-incidents in the past 12 months, with 38% suffering damages in excess of $1 million. Yet, they report that “a full 40% of respondents said they do not incorporate IoT and connected products into the company’s broader incident response plan.”

Eliminating Silos of Data

Manufacturers have put the components of Industry 4.0 in place, however they run in operational silos - independent of IT, the corporate data center and the enterprise network. Industrial analytics such as predictive and prescriptive machine maintenance, field product usage and customer/sales statistics are becoming essential to manufacturing operations. This is driving the integration of factory floor networks and corporate data centers.

The combination of this integration and the massive deployment of IIoT carries increased cybersecurity risks. In a December 2016 post we talked about the significant challenges of IoT device security. The lack of IoT security mechanisms is now opening not just the factory, but also the corporate network and data center, to greater risk of more costly attack.

Protect Your IP  - Gain Control Over Your Devices

The innovations of Smart Manufacturing require equal innovations in network security, from the factory floor to the data center. Now is the time to add IIoT and other network endpoints to your overall security strategy. Real-time device awareness and control must become part of this strategy to reduce growing exposure to cybercrime. Traditional access control solutions alone are no longer sufficient to safeguard your intellectual property, financial data, customer information and business operations.

This is where an important security paradigm shift comes into play. The foundation of effective device inventory and tracking is real-time device discovery and visibility – for every device on your network. Market experts agree.

According to Gartner, “Discovery and visibility are critical prerequisites to Internet of Things security. Security and risk management leaders in charge of IoT implementations will need to select an IoT network and device security strategy that will address specific visibility use-case requirements.”

With the Beacon Product Suite, Great Bay Software leads the industry in endpoint discovery, visibility and control. As manufacturers move towards Industry 4.0, deploy IIoT devices and run end-to-end analytics, Beacon Suite is there to help protect against cyberattacks. Learn more about Beacon Product Suite here.

How Industrial IoT is Transforming Manufacturing

Gartner Real-Time Discovery, Visibility and Control Are Critical for IoT Security Report

How IoT is Fueling the Next Industrial Revolution for Manufacturing

New Call-to-action

Comments

Related Posts

Jul 26

2017

Banking on the “Fin-ternet” of Things

Especially among millennials, smartphones and mobility are becoming the foundation of financial services. This is having a profound effect on the relationship between banks and their customers....

Jul 18

2017

The Latest and Greatest on ICS Security

Last week we joined the SANs Institute in their “State of Industrial Control Systems Security” webinar. They provided an overview of the data collected in their 4th annual survey on this topic. SANS...

Jun 30

2017

When it Comes to IoT, Risk Managers Want to Come to the (Third-) Party

In the Cybersecurity market, we have noticed that there isn’t a much discussion of the risks when third-parties deploy IoT devices in the enterprise. We turned to the findings of a recent Ponemon...

Subscribe to Blog Updates