It's official--we're System and Organization Controls (SOC 2) Type II compliant! This distinction serves as third-party industry validation that we're providing enterprise-level security for customer data secured in the Fero Labs system.
From the press release:
Manufacturers need to be proactive in protecting their operations and supply chains from security threats, as approximately 51% experienced cyber attacks in 2021. Data protection is especially important when manufacturers look to implement third-party technology or software as it adds another layer of complexity to networks. Achieving SOC 2 Type II compliance confirms that Fero Labs operates with the highest standard of security and compliance in mind for customers.
"We are extremely proud of this achievement as it showcases that the management and security of our customers' data has always been of utmost importance to us," said Berk Birand, co-founder and CEO of Fero Labs. "Manufacturing processes are quite proprietary. We want our customers to feel confident knowing that their data is secure at all times with Fero Labs."
Fero Labs works with industrial manufacturers across the globe to increase their efficiency, so they can better achieve their profitability and sustainability goals. Unlike black-box algorithms that give recommendations with no context, Fero Labs' factory optimization software is powered by white-box technology that offers a range of transparency features, including confidence intervals that show users exactly how confident the model is in the predicted outcome. This addresses the issue of trust–one of the biggest hurdles hindering the adoption of AI in the industrial world.