The cybersecurity problem is affecting numerous companies in various industries. Companies in the food sector have not been spared. However, some have taken stringent measures to protect their sensitive information. Read on to understand some of the dominant companies in cybersecurity.
What Statistics show
Lindt & Sprungli and Nestle are some of the companies that have managed to counter the cybersecurity challenge according to reports from the Thematic Research unit from GlobalData, which categorizes organizations based on their capacity to handle cybersecurity matters and thrive in the food industry.
For instance, between January 2021 and December 2021, Nestle posted more than 125 cybersecurity jobs and discussed cybersecurity in company filings at least twice.
The report demonstrates how GlobalData investigators identified the leading companies in the food sector based on their performance in cybersecurity, patents, deals, mentions in company reports, and job openings in their cybersecurity department since the beginning of 2021. The report indicated the general score for each company in terms of their dominant cybersecurity position compared to their peers.
Scores were on a scale of one to five, with five suggesting the firm was a crucial player in that sector. Organizations that earned less than three were vulnerable to cyber threats. The report’s other data points were more refined and demonstrated the latest cybersecurity investments in different areas in the past year. These metrics indicate the significance of cybersecurity for company heads. Still, high numbers in this sector can suggest daring attempts to recover because cybersecurity comes with authentic strengths. For instance, increased cybersecurity mentions in quarterly company filings can show the firm benefits from past investments or the need to invest more to meet rising industry demands.
An increased number of deals can suggest that the organization is leading in the market. It can also indicate its leveraging acquisitions and mergers to fill gaps in its offerings. Recently, GlobalData released figures showing the percentage of food manufacturers announcing job openings in their cybersecurity departments. According to the statistics, these positions increased in November more than the previous month in 2021. Over 30% of the firms in the report were at least hiring for one job. The latest figure was more than the over 25% of organizations with openings for cyber security-based tasks the previous year.
Cyberattack Targeting a Leading Food Company
A cyberattack on one of the leading food companies in the world sometime last year demonstrated how cybercriminals can target corporate firms. As a result, some of the companies in the industry are now hiring cybersecurity officials.
In May 2021, JBS, a big meat giant based in Brazil, experienced a cyber threat when the company servers supported the organization’s Australian and North American IT systems. According to the company, the planned attack was an organized cybersecurity threat.
JBS resolved the breath four days later, mentioning that its factories were running effectively. The organization claimed to have paid the hackers up to US$11m. According to the FBI, the hackers are REvil, a Russia-based cyber-criminal organization known as Sodinokibi.
The announcement came days after extensive details from third-party cybersecurity professionals and internal IT experts. Companies can avoid some of these threats by using a solid VPN. Managers should ask themselves, can I mask my IP address without VPN? Based on their answers, they should take the necessary steps to reinforce cybersecurity in their establishments. Following increased cybersecurity threats on US-based Molson Coors Beverage Co., Wendy’s, and Mondelez International, company heads are now realizing they should adopt robust cybersecurity protection systems.
Imagine going to work in the morning at a food production plant only to discover that the systems have been hacked and the entire workforce cannot access the systems. This may sound unreal, but it happened at Schreiber Foods in October 2021. These vulnerabilities have been in existence for some time now. Still, the cybersecurity conversation in the food and beverage sector became a key topic in 2021 after various digital attacks targeting US-based companies.
An FBI notice released in September 2021 warned agricultural and food businesses of possible ransomware attacks against organizations in the industry. The FBI warned that the attack threshold increases as the industry adopts the Internet of Things and intelligent technology processes. Cybercriminals target larger businesses due to their perceived capability to pay high ransom demands. Smaller companies, especially startups, are soft targets.
In 2022, these cybersecurity issues will remain core factors for entrepreneurs and managers in the beverage and food processing industries. More than 35% of consumer goods industry players that Deloitte surveyed recently opine that their firms plan to invest heavily in cybersecurity to boost their consumer data privacy. More than 44% of managers say they play to invest moderately in cybersecurity.
Cybersecurity is a significant threat in the business realm. Both small and large companies should take the necessary steps to protect their operations and offer the optimal service for the best customer experience.