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Message from CEO Alex Lutskiy on COVID-19

To all Innovecs employees, clients, and partners

As the COVID-19 outbreak continues to develop and affect people globally, I want to personally update you on the steps Innovecs is taking to maintain our business operations and ensure the health and safety of our staff.

We remain committed to ensuring the superior service our clients have come to expect from us. We monitor the situation closely and remain watchful to the recommendations of government and public health authorities. Our R&D teams, as well as all other employees, continue to work remotely, and we are ready to adjust the measures in response to changing quarantine circumstances.

We have established a special COVID-19 team within senior management to respond to the ever-changing impact of the coronavirus and to protect employees’ health and safety. We have also set up regular online meetings to keep up to date and plan activities so that we could advise our customers and coordinate our teams accordingly. And we continue to provide our internal and external audiences with the relevant webinars and online events with regard to the new world order.

To combat the spread of the disease in Ukraine, Innovecs has created the “Innovecs COVID-19 Fund” in the amount of 1,500,000 (one million and a half) hryvnias. The fund is directed to support the initiatives that fight coronavirus, as well as to ensure the safety of the company’s employees and their families. As part of this initiative, Innovecs purchases and installs an oxygen pipeline system at one of the Kyiv hospitals.

This is a challenging period for everyone, and the situation is changing rapidly, but Innovecs is responding to it with unity, as a company, and as a team. I believe that when we stand together through moments that bring uncertainty and seem dark, we come out even stronger in the end.

Thank you for your patience and attention throughout this stressful time. As an employer and a partner, Innovecs is confident in our business continuity plan and our ability to provide support to our clients and staff. It is my sincere hope that our efforts and those of businesses, communities, and governments will empower the containment of the coronavirus and enable a speedy recovery for people around the world.

In the meantime, let’s stay safe and help others keep safe too.



Alex Lutskiy

Innovecs CEO & Founder


March 26, 2020
Why a GRC Software Solution Is Vital For Your Business
As we see from the 2019 Cost of a Data Breach Report, more than 500 companies around the world suffered a breach over the past year. Organizations are now creating an urgent demand for reliable, feature-rich, and trusted solutions that meet the GRC (governance, risk, and compliance) regulations, forecast risks, identify problems and mitigate them before they happen.The report data is based on hundreds of cost factors, including legal, regulatory, and technical procedures to the loss of brand equity, customers, and human productivity. The highlights from this year’s report include:For the last nine years, the healthcare industry suffered the highest cost of a breach—almost $6.5 million on average (60% more than other sectors in the survey). Over 50% of data breaches were caused by malicious cyberattacks and cost $1 million more on average than those that resulted from accidental causes. Big breaches of more than 1 million data records cost companies approximately $42 million in losses, and breaches of 50 million data records can cost companies $388 million. Companies that have an incident response team have reduced those costs to $1.23 million on average. The average price of a breach in the US is $8.19 million, more than double the worldwide average.Another report from IBM Security and Ponemon Institute examined the financial consequences of a data breach and how companies can reduce the impact.An effective GRC platform helps companies to identify the risks before they occur, centralize the entire program in one place, and integrate risk management across all business procedures.
#Article #FinTech #Healthcare #Machine Learning #Software Development
March 13, 2020
Boosting Your Software Testing Life Cycle
The software testing life cycle is undergoing a significant shift. And to keep pace, team leaders and executives need to “reboot” the existing specialists and hire new talent. The World Quality Report also stated that testing and QA is no longer a closing phase, but a process that emerges in parallel with development. 2020 is the year that we’re going to see the introduction of a more intelligent, self-sustaining, flexible ecosystem that stays in-line with changes.  То have a better understanding of the testing itself, let us dig deeper into the basics of the process and identify its key milestones. By definition, the software testing life cycle (STLC) is a sequence of different activities conducted during the software testing process. Typically, STLC is characterized as follows:STLC is an essential part of the software development life cycle (SDLC), but STLC refers only to the testing phases. STLC begins as soon as requirements are defined and stakeholders share a software requirement document. STLC requires a step-by-step process to ensure high-quality software.While the software product or the application is under development, the test team analyzes and describes the scope of testing, entry and exit criteria, and the test cases. It helps to save the test cycle time and dramatically enhances product quality. Once the development phase is over, the test team is ready with test cases and starts the execution to find bugs as early as possible.
#Article #QA & Testing