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3 Ways Energy & Utility Companies Can Increase IT Security Now
You’ve seen the panic in the news; you’ve experienced the fuel shortages at the gas station; you’ve lit your darkened home with flashlights and candles when the power fails…sometimes for days. The health and security of your energy company’s IT systems and network infrastructure do not just impact your bottom line, but the lives of millions—or billions—of people.
After the recent ransomware attack against the largest U.S. fuel pipeline—now considered the biggest known cyberattack on U.S. energy infrastructure—President Biden issued an executive order to improve the nation’s cybersecurity. Oil & gas companies, utilities, and alternative energy producers and suppliers must take their IT seriously as a matter of national security.
Here are ways businesses in the energy sector can improve their IT for healthier, more secure IT infrastructure.
1. Increase uptime to increase security
The energy sector’s infrastructure is aging. Outdated or overworked equipment are more likely to fail more often, leading to egregious system downtime. The 56% of utility respondents in a Siemens and Ponemon Institute survey had at least one system shutdown or operational data loss per year. For a resource that people and businesses utilize daily, even one system shutdown is too many. According to McKinsey & Company, hardware and software failures account for 45% and 39%, respectively, of widespread, unplanned downtime incidents in the energy industry. As utilities expand power grids and oil & gas companies lay more pipelines, the need for reliable technology intensifies, not only for operational efficiency but security. In IBM’s 2020 study of the energy market, system glitches caused 23% of data breaches. The U.S. energy sector will spend $14 billion a year through 2023 to modernize and build a smarter infrastructure. Improving power production and delivery reliability—and decreasing system downtime—drives 44% of power companies to digital transformation, ultimately leading to more robust security from cyberattacks.
2. Increase monitoring to increase security
3. Increase cost savings to increase security
Everything managed IT does circles back to the security and integrity of your IT systems, protecting your business, your customers, and your country.
At NexusTek, we take the health of your energy company’s infrastructure seriously. As an award-winning MSP with hundreds of IT consultants and best-in-class technology partners, NexusTek has the expertise and resources to ensure utilities and oil & gas companies maintain optimal technology performance. Our multiple network operations centers (NOCs) monitor and maintain your IT systems, installing the latest software updates and patches and offering 24/7/365 IT support for a fixed monthly fee. Our managed IT, cybersecurity, and IT consulting packages can be tailored to fit the needs of your energy company so that your experience is truly “electrifying”, all for a fixed monthly fee. The bad puns come free.