Your Software Puts You at Risk
09 Dec, 16 | illumisoftadmin
“Does your software put you at risk?”
One little step. That’s what was missed on August 1, 2012 when Knight capital released a new version of its software. 45 minutes later and $460 million and Knight Capital was all but out of business; 70% of their market value lost. The point is, there is a lot of risk when your company runs on software.
“…there is a lot of risk when your company runs on software.”
Over the past 8 to 10 years, the number of [software] developers is skyrocketing, and doubling at a rate that is phenomenal, and that’s great. That is going to reduce software development costs, and that’s wonderful. However, it takes a legitimate 8 to 10 years of “good” experience to even have seen everything necessary to develop high quality software. [Today] Maybe one in 10 developers have the skill to be able to do it and maybe only one in 100 has the experience.
“1 in 10 have the skill and only 1 in 100 have [the skill and] the experience”
The good news is that we have tools and techniques available today that we didn’t have 20 years ago. If you’re building software today it would be in your best interest to utilize some of these tools and techniques, and set up your software development in a way that automates as much of it is possible. [That way,] Minor steps like the one that was missed by Knight Capital are not overlooked for you. The costs are minimal upfront. They could be catastrophic if you overlook them.
“The costs are minimal upfront. They could be catastrophic if you overlook them”