Jan 09, 2012
Company Announcement: SQS annual software bugs survey resultsBack
Cologne|Frankfurt Am Main|London|Slough|Allianz|Beazley|BP|Centrica|Daimler|Deutsche Post|Generali|German Stock Exchange|JP Morgan|Meteor|Reuters|SQS Software Quality Systems|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|Avoidable Software Failures|Bank|Banking|Car|Finance Sector|Financial Services Giant|Instant Messaging Services|Internet Banking Services|Social Networking App|Social Networking Sites|Software Bugs|Software Design|Software Error|Software Failure|Software Failure Examples|Software Failures|Software Glitch|Software Quality|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.
Edited by: Creamer Media ReporterComment Guidelines
Other Announcements News
Updated 3 minutes ago A long-standing employee of precision engineering firm Darchem Engineering has risen through the management ranks to become the new Managing Director of the Stillington-based company and is looking forward to managing the continued growth and expansion of the...
Updated 1 hour 16 minutes ago Creamer Media’s Base Metals 2013 Report examines the global base metals industry, with a particular focus on the production of copper, zinc, nickel and lead, as well as selected base metals operations and projects in Africa.
Celanese Corporation, the global technology and specialty materials company, showcased at K 2013 in Düsseldorf, Germany, a new cost-effective medical application — the Injury Stop syringe that is based on Hostaform® acetal copolymer (POM), one of the medical...
Updated 19 minutes ago Energy-focused engineering group Kentz is gearing up for what it expects to be material growth in Mozambique in the coming years, owing principally to the discovery of large-scale gas resources and the ongoing development of the country’s coal and power...
Updated 1 hour 29 minutes ago Creamer Media’s Base Metals 2013 Report examines the global base metals industry, with a particular focus on the production of copper, zinc, nickel and lead, as well as selected base metals operations and projects in Africa.
Recent Research Reports
Defence 2013: A review of South Africa's defence industry (PDF Report)
Creamer Media’s 2013 Defence Report examines South Africa’s defence industry, with particular focus on the key players in the sector, the innovations that have come out of the defence sector, local and export demand, South Africa’s controversial...
Road and Rail 2013: A review of South Africa's road and rail infrastructure (PDF Report)
Creamer Media’s Road and Rail 2013 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...
Liquid Fuels 2013 (PDF Report)
Creamer Media’s 2013 Liquid Fuels report examines South Africa’s liquid fuels market, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing,...
Projects in Progress - Second Edition (PDF Report)
Creamer Media’s second Projects in Progress supplement considers some of the major project developments under way, including high-profile energy and transport projects, as well as a few of the lower-profile public and private developments. What remains apparent is...
Water 2013: A review of South Africa’s water sector (PDF Report)
Creamer Media’s Water 2013 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.
Canadian Mining Roundup for June 2013 (PDF Report)
The June 2013 roundup includes details of the development of TSX-V-listed Aldridge Minerals’ flagship Yenipazar polymetallic project, in Turkey; the Canadian Nuclear Safety Commission’s renewal of Cameco’s uranium mining licence pertaining to the Cigar Lake...
This Week's Magazine
Mitsubishi Motors South Africa (MMSA) has introduced a 4x2 derivative of its Pajero Sport sports-utility vehicle (SUV), which will give it access to a substantial slice of the full-size SUV market, where it will compete with the likes of the Ford Everest, Chevrolet...
South African Energy Minister Ben Martins has affirmed that the government wants the country to be globally competitive in the nuclear sector. "Our responsibility has always been ... to ensure that, in nuclear energy, South Africa can compete with the rest of the...
Mercedes-Benz South Africa (MBSA) president and CEO Dr Martin Zimmermann describes the new S-Class as “a special place to be”, with the car creating a sense of “wellness” once you are seated inside the German brand’s flagship model. It is difficult to argue...
Water scarcity and water-quality issues are broadly recognised and understood in most political, business and civil organisations in South Africa, but solving water issues will require wide and continuous action in catchments and municipalities by organisations and...
Work is well under way on the R212-million Imvutshane dam, 30 km north-west of Stanger, in KwaZulu-Natal, which is a key link in supplying people in rural Maphumulo with a reliable source of safe drinking water.