With the cost of U.S. data breaches increasing nine percent from last year, and the news of Target CEO Gregg Steinhafel announcing his resignation amidst the fallout of their massive credit card breach, every IT organization has software risk management top of mind in 2014.
Last month, at The Art Directors Club in New York, we held an application risk launch party for our new Application Intelligence Platform equipped with a sophisticated Application Analytics Dashboard. The updated interface will equip IT executives with actionable insight into the security, performance, robustness, and changeability of their most critical business applications across their portfolio.
The theme of the evening was collaborative and invigorating. Everywhere industry leaders discussed their concerns about software quality and security, what the future held for the software analytics and measurement industry and best practices for developing and maintaining robust, high quality applications. After an opening speech from CAST Founder and Chief Executive Officer Vincent Delaroche, we heard from Nigel Faulkner, CIO of Credit Suisse Investment Bank; Toby Renshaw, former Amex and Aviva CIO; and were even treated to a live demo from our own Kate Slick, who showed off the updated Application Analytics Dashboard and the tremendous impact it can have in making strategic IT business decisions.
But that was only the beginning. After our distinguished speakers finished up, Chief Scientist Bill Curtis took the stage to give us a brief glimpse into what the future of software quality analytics might look like. He drove home that CAST is working hard with organizations worldwide to make software analytics and measurement down-to-earth and instantly available for IT managers and executives to use efficiently in their decision making. According to Bill, the next step in bolstering credibility for software analytics is in the creation of universally accepted and agreed upon quality measures across all analytics platforms.
If you’re in the IT industry, I’m sure you’ve heard pundits claiming that all companies are software companies nowadays. But what does that really mean for IT? It means that businesses are competing with each other to create the most powerful, robust, and secure software tools. And having the best tool has become a source of strategic competition across almost all industry verticals. This means that an organization building their software with no actionable insight into the quality, robustness, maintainability, and security of their applications are at a serious disadvantage right out of the gate.
During his speech, Mr. Renshaw shared a story about a friend of his -- a corn farmer from rural Wisconsin -- who loved to ask him about what was new and interesting in the world of IT. When Tony told him about software quality analytics and measures, the farmer was astounded. And after learning how software was really made, he exclaimed, “If you built things like this in manufacturing, without measuring for quality, you’d get arrested!”
I doubt we’ll be seeing any CIOs hauled off to Sing Sing anytime soon. But just remember who warned you before the angry pitchforks come calling.
Erik Oltmans, an Associate Partner from EY, Netherlands, spoke at the Software Intelligence Forum on how the consulting behemoth uses Software Intelligence in its Transaction Advisory services.
Erik describes the changing landscape of M & A. Besides the financial and commercial aspects, PE firms now equally value technical assessments, especially for targets with significant software assets. He goes on to detail how CAST Highlight makes these assessments possible with limited access to the targetâ€™s systems, customized quality metrics, and liability implications of open source components - all three that are critical for an M&A due diligence.