The costs of decommissioning 8.5 million Windows PCs – which have crippled operations in critical segments such as finance, healthcare and transportation – could exceed $1 billion – but it’s not clear who will pay the invoice, writes the CNBC portal.
What one cyber security expert described as the “biggest IT outage in history” disrupted businesses from retail sales to package deliveries and hospital procedures, costing revenue, time and productivity.
The problem was caused by some faulty CrowdStrike code sequences in a software “content update”. Unfortunately, fixing the bug was much more time-consuming than causing it, and it could take days for all systems to return to normal.
CrowdStrike apologized for the situation
CrowdStrike apologized for the situation, but did not say whether it plans to offer compensation to affected customers.
Experts say there are expected to be claims and, most likely, lawsuits, and they generally agree that it is too early to have a firm estimate of the costs of Friday’s global internet outage. But those costs could easily exceed $1 billion, said Patrick Anderson, CEO of the Anderson Economic Group, a Michigan-based research firm that specializes in estimating the economic costs of events such as strikes and other business disruptions.
Anderson said the bills could be particularly costly for airlines because of lost revenue from canceled flights and excessive labor and fuel costs for planes that flew but faced significant delays.
Despite CrowdStrike’s dominance in the field of cyber security, its annual revenues are less than 4 billion dollars per year, writes Ziarul Financiar.
Source: www.descopera.ro
