Jan 09, 2012
Company Announcement: SQS annual software bugs survey resultsBack
Cologne|Frankfurt Am Main|London|Slough|Africa|Allianz|Beazley|BP|Centrica|Daimler|Design|Deutsche Post|Fire|Generali|German Stock Exchange|JP Morgan|Meteor|Projects|Reuters|SQS Software Quality Systems|System|Systems|Testing|Volkswagen|Africa|Europe|Latin America|Australia|Austria|Canada|Egypt|Finland|Germany|India|Ireland|Japan|Mexico|New Zealand|Norway|Portugal|South Africa|Spain|Sweden|Switzerland|The Netherlands|United Kingdom|United States|NZD|USD|Annual Software Bugs Survey|Automotive|Avoidable Software Failures|Bank|Banking|Car|Finance Sector|Financial Services Giant|Instant Messaging Services|Internet Banking Services|Services|Social Networking App|Social Networking Sites|Software Bugs|Software Design|Software Error|Software Failure|Software Failure Examples|Software Failures|Software Glitch|Software Quality|Systems|Web Browsing|Worst Software Failures|DAX 30|FTSE 100|STOXX 50 And 20|Deirdre Van Zyl Smit|Phil Codd|BP|Faulty Vehicles|Reputations|Vehicles|New South Wales|Middle East|ATM|Instant Messaging|Smartphones
SQS Software Quality Systems (AIM:SQS.L), the world’s leading specialist for software quality, has compiled a list of the worst software failures of 2011 that have damaged reputations, impacted negatively on financials ($) and caused stress to users.
Phil Codd, Managing Director & Chief Markets Officer (Northern Europe, India & South Africa) at SQS comments: “Our top ten list of 2011 shows that software failures are costing companies and consumers large amounts of money. What is worse is that people are losing jobs and in some cases their liberty because of avoidable software failures.
“Voted on by SQS consultants, this year’s annual software bugs survey is based on major software failures of the past twelve months, from glitches that generated massive fines in the banking and finance sector to mass recalls of faulty vehicles. Our 2010 report also highlighted computer ‘glitches’ in the financial and automotive industries and this year both of those sectors are prominent in our top ten, taking four of the top ten slots.
“The main problem caused by software bugs is negative financial impact and, in almost every case, consumers end up losing out. Deficiencies in software quality often result in costly emergency fixes and/or damage to a brand’s reputation, but each of our top ten 2011 software failure examples could easily have been avoided through an effective quality management strategy identifying and resolving potential glitches before they appear,” he concluded.
Top Software Failures of 2011
1. Financial services giant fined $25 million for hiding software glitch that cost investors $217 million - $ and ♥
A software error in the investment model used to manage client assets resulted in this international financial services giant being fined $25 million (£15.7 million) by the US Securities and Exchange Commission (SEC). The company also had to repay the $217 million (£136 million) backers lost when told that market volatility rather than software failure was to blame for their investment losses.
2. Computer system bugs cause Asian banking facilities’ downtime - ♥
Computer system problems at one of Japan’s largest banks resulted in a nationwide ATM network of more than 5,600 machines going offline for 24 hours, internet banking services being shut down for three days, delays in salary payments worth $1.5 billion (£939 million) into the accounts of 620,000 people and a backlog of more than 1 million unprocessed payments worth around $9 billion (£5.64 billion).
3. Cash machine bug benefits customers by giving them extra money - $
An Australian bank began giving out large sums of money from 40 cash machines across one city. Officials at the company said they were operating in stand-by mode, so could not identify the account balances of customers.
4. Leading smartphones suffer an international blackout - ♥
Core and back-up switch failures resulted in network services across Europe, the Middle East, Africa and Latin America going down for 3-4 days. The blackout left millions without email, web browsing or instant messaging services and were reportedly due to server problems at one data centre, in Slough.
5. Bugs in social networking app for tablet just hours after delayed release - ♥
Just hours after its release, this social networking sites’ long-awaited tablet app was already receiving reports about minor bugs from clicking through to pages via panel icons to problems posting comments.
6. 22 people wrongly arrested in Australia due to failures in new NZ $54.5 million courts computer system - $ and ♥
A new NZ $54.5 million ($42.7 million or £26.8 million) computer system linking New South Wales courts and allowing documents to be lodged electronically led to damages claims for unlawful arrest and malicious prosecution, after 3,600 defects in the electronic transfer of data from the courts to the police’s database led to the wrongful arrest of 22 individuals.
7. 50,500 cars recalled after airbag-related software glitch - $ and ♥
A glitch in the automaker‘s software design and testing approach, that meant airbags for passengers in the right rear seat during a crash may not be deployed, resulted in the recall of 47,401 vehicles in the US and a further 3,099 in Canada and Mexico.
8. Recall of one million cars addresses fire and rollaway concerns - $ and ♥
A Japanese car company was forced to initiate a worldwide recall of over one million vehicles affected by a design flaw allowing residue from window cleaners to accumulate, which can degrade the switch's electrical contacts and potentially cause a fire over time. This recall followed a global 2.5 million recall by the same company due to design flaws that allowed vehicles to shift out of park and engine stalls.
9. Telecoms glitch affects 47,000 customers’ meter readings and costs company NZ $2.7 million - $ and ♥
After a software glitch that resulted in customers hitting their data limits early, some 47,000 customers, who were overcharged, were reimbursed by a New Zealand telecoms company in a NZ $2.7 million ($2.1 million or £1.3 million) payout.
10. Army computer glitches hinder co-ordinated efforts in insurgent tracking
An army computing system designed to share real-time intelligence with troops on the front line has hindered troops by being unable to perform simple analytical tasks. The $2.7 billion cloud-based computing network system runs slowly when multiple users are on the system at the same time and the system’s search tool made finding the reports difficult as the information mapping software was not compatible with the army’s existing search software.
* All $ figures are US Dollars unless otherwise stated.
SQS Software Quality Systems
2. Computer system bugs cause Asian banking facilities’ downtime: http://www.bloomberg.com/news/2011-03-17/mizuho-bank-atms-nationwide-downed-by-system-failure-correct-.html
3. Cash machine bug benefits customers by giving them extra money: http://www.bbc.co.uk/news/world-asia-pacific-12606735
4. Leading smartphones suffer an international blackout: http://www.bbc.co.uk/news/technology-15243892
5. Bugs in social networking app for tablet just hours after delayed release: http://www.bbc.co.uk/news/technology-15256901
6. 22 people wrongly arrested in Australia due to failures in new NZ $54.5 million courts computer system: http://www.brisbanetimes.com.au/technology/technology-news/police-force-damaged-by-computer-errors-20110608-1ft9n.html
7. 50,500 cars recalled after airbag-related software glitch: http://spectrum.ieee.org/riskfactor/green-tech/advanced-cars/gm-recalls-50500-2011-cadillac-srxs-over-airbagrelated-software-glitch
8. Recall of one million cars addresses fire and rollaway concerns: http://www.newsomelaw.com/blog/2011/10/31/global-honda-recalls-1-million-cars-address-fire-rollaway-concerns
9. Telecoms glitch affects 47,000 customers’ meter readings and costs company NZ $2.7 million: http://business.scoop.co.nz/2011/10/19/telecom-makes-2-7m-settlement-for-incorrect-meter-readings
10. Army computer glitches hinder co-ordinated efforts in insurgent tracking: http://hamptonroads.com/2011/06/computer-bugs-hurt-army-ops
This message and any attachments are confidential and intended solely for the addressees. If you receive this message in error, please delete it and immediately notify the sender. If the reader of this message is not the intended recipient, you are hereby notified that any unauthorised use, copying or dissemination is prohibited. E-mails are susceptible to alteration. Red Ribbon Communications shall not be liable for the message if altered, changed or falsified.
Other Announcements News
Water is a vital, but scarce resource in South Africa and with decreasing water quality and available freshwater resources almost fully-utilised, industry is compelled to make careful water management a priority. Leading environmental solutions company I-CAT...
The ILWU has escalated its efforts against ICTSI Oregon, Inc. as of late, far beyond what other West Coast ports are experiencing. During the busy 2014 holiday season, ILWU engaged in approximately 36 work stoppages and slowdowns of various types and for varying...
Trimble® SPS356 DGNSS Beacon Receiver specifically designed for marine construction. This affordable, dedicated marine receiver allows contractors to achieve sub-meter accuracy using DGNSS or MSK Beacon station corrections for robust, multi-constellation positioning....
Recent Research Reports
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
This Week's Magazine
The international Square Kilometre Array (SKA) radio telescope – which is to be jointly hosted by South Africa and Australia with, later, outstations in other countries – may not yet exist, but international scientific working groups are already deciding what...
A free Web-based solar power plant capacity-planning tool offers project planners and developers, as well as governments, a means to assess the solar energy potential of thin-film solar PV power over an area of land. The tool was developed by thin-film solar...
As yet, no specific methodology, timeline or costs have been finalised to remedy the water ingress, excessive to contractual specifications, into the Gautrain tunnel between emergency shaft two (E2) and Park Station, says Bombela Concession Company technical and...
The “seriously disruptive” electricity outages in South Africa have cost packaging group Astrapak more than R2-million in “irrecoverable downtime costs”, the company said on Monday, adding that the power cuts were negating some of the benefit of energy saving...
Bakkies and more affordable cars dominated South Africa’s new vehicle market in 2014. Unaudited data from the Department of Trade and Industry (DTI) shows that South Africa’s most popular vehicle in 2014 was the Toyota Hilux, selling 37 562 units.