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|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
Updated 3 hours ago While LinkedIn may not be the most popular social networking platform in the world, it is definitely one of the most important tools for professionals and businesses today. While it may not boast user numbers like that of Facebook and Twitter, it is still the largest...
Updated 4 hours ago Protects Mid-Enterprises with 5 Times the Performance.Priced Under $5,000 Sets Fortinet FortiGate-300D and FortiGate-500D Apart in Addressing Advanced Threats. Fortinet® a global leader in high-performance network security, today unveiled two new next-generation...
Updated 4 hours ago Turning away from nuclear energy and less use of fossil fuels – countries such as Germany are adding more speed to the energy turnaround. However, not only is there a lack of sufficiently developed power grids, but also of energy storage systems. New grids need to be...
Updated 32 minutes ago JSE-listed cement company PPC on Thursday announced the resignation of its joint MD Richard Tomes, who would pursue other opportunities. The company said that Johann Claassen, who served as joint-MD with Tomes, would continue in the position of MD.
Updated 36 minutes ago Researcher and political analyst Professor Raymond Suttner has described South Africa’s youth unemployment crisis as an “emergency-type situation” that can only be sustainably addressed through a frank dialogue between government, business, labour and civil society...
Updated 39 minutes ago South Africa's Imperial Holdings will buy 70% of Imres BV, a Dutch wholesaler of medical supplies, for €46-million ($58-million) in cash to expand its pharmaceutical distribution in Africa, the transport company said on Thursday. Imperial is looking to expand its...
Recent Research Reports
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.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
This Week's Magazine
The broad-based black economic-empowerment (BBBEE) alignment process in the con-struction sector has begun, dur-ing which the sector codes of the Construction Sector Charter Council (CSCC) will be aligned with the revised Codes of Good Practice (CoGP), which come...
It is second time lucky for Toby Venter. Ten years ago he negotiated to buy the Kyalami racetrack, but “the deal did not materialise”.
Environmental solutions company I-Cat started construction work on its R22-million, 1 949 m2 environmentally sustainable office and warehouse facility, commissioned by I-CAT Environmental Solutions, at a launch event in October. The new sustainable I-CAT campus,...
Effective file synchronisation and sharing across an organisation’s structures can provide the basis for robust mobile-device and document management while maintaining proper backup, version control and content distribution. These are the lessons learned by complex...
Hotel group Carlson Rezidor currently holds the largest hotel pipeline in Africa with 30 hotels and 6 300 rooms under development. The hotel group develops and operates Radisson Blu in the upper upscale segment and Park Inn by Radisson in the mid-market segment. With...