Construction companies share vast amounts of data each day – from project bids and blueprints to cost estimates and vendor information – in order to keep a project moving forward.
The typical construction company has a massive fleet of remote employees and an extensive network of in-house and third-party vendors sharing documents, data and information from site to site during any given stage of development.
And, as more construction companies embrace the benefits of adopting cloud technology and SaaS platforms like Microsoft 365 and Google Workspace, along with the increased digital freedom comes new challenges, including data protection.
The construction industry is quickly becoming one of the leading industries impacted by data security incidents, according to a 2021 report from the Associated General Contractors’ of America conference on risk management. Hackers are targeting construction companies because the industry is lagging behind others when it comes to data security and privacy initiatives.
From cyber attacks to malicious insiders, any misstep that leads to data loss can add hours to administrative tasks and cost construction companies a considerable amount of money.
Being able to anticipate, mitigate and protect against threats to company data can ensure your company doesn’t follow in the footsteps of 60% of businesses that go under following a cyberattack.
That’s why all construction companies need to understand what type of data is essential to back up and why.
The Data Construction Companies Need to Backup
The type of information generated with each construction project is diverse when you consider it encompasses every piece of information used to create, communicate and build the project.
When you add the large number of people involved in each project, from the clients to the subcontractors, and every single stakeholder, the amount of information is likely in the thousands for each build.
Each piece of project information must be properly managed and protected by the construction company.
Here is a partial list of the types of data the company is responsible for managing:
- Feasibility studies
- Design models
- Project measurements
- Availability of materials
- Construction plans
- Project timelines
- Site surveys
- Client information
- Personally identifiable information
- Vendor information
Losing any of the information above would not only be damaging to a company’s reputation, but it could halt a project before it’s done, and ultimately cost a construction company time and money. A 2021 IBM report found that the cost of a data breach rose from $3.86 million to $4.24 million – the highest average total cost over 17 years.
Shared Responsibility Model in Data Backup
Many construction companies realize the importance of easily accessible data. They have moved from storing information on file servers to investing in cloud-based services like Microsoft 365 or Google Workspace for business collaboration.
For example, it’s common for firms to communicate information like building material availability through SharePoint so vendors and employees can collaborate and monitor projects. This mission-critical data is essential to the completion of a construction project.
While SaaS platforms like Microsoft 365 and Google Workspaces offer some protection against power and software outages, they operate under a shared responsibility model when it comes to data protection. They may offer some level of protection against the following:
- Service interruptions due to hardware or software failure
- Loss of service due to natural disaster or power outage
However, when it comes to human error or malicious actors, the individual company is responsible – not the vendor.
That means construction companies using Microsoft 365 and Google Workspace are responsible for protecting their data from:
- Human error (due to malicious activity or innocuous accidents)
- Misconfigured workflows
- Malware, such as ransomware
Why Construction Companies Need to Backup Data
In addition to having extra protection and corporate support to recover items for remote workers and vendors if data is lost, backing up data can assist construction companies in the following ways:
- Protect Against Cyber Threats: Because of their growing reliance on technology, construction companies are becoming bigger targets for hackers looking to gain a financial or strategic advantage. For example, companies that use building information modeling (BIM) software to share building plans with engineers, architects, and general and subcontractors are at risk. Because BIM systems contain building plans and other project data files, hackers can use malware to target construction companies and CAD programs.
- Streamline Communication and Productivity: By collaborating via cloud-based services, it’s easier to keep in touch with employees on the ground. And by protecting information within cloud-based services with an automated backup service, you can give your small IT teams more time and ability to focus on business-growing tasks.
- Comprehensive Protection: Businesses rely on a wealth of data, especially with many organizations working remotely. Protect more than just the files and folders in your SaaS applications, but also collaboration tools like Teams conversations, calendars, and contacts.
Finding a backup option to protect data like building measurements, invoices, and client information is critical to protect a construction company’s revenue, reputation, and productivity.
Backupify provides enterprises with easy to use cloud-to-cloud backup, ensuring your information stays safe, protected, confidential and backed up on our private cloud.
To learn more about how Backupify can help construction companies stay organized, protected, and cost-effective, try a free demo, today!