Fero Labs Achieves SOC 2 Type II Compliance for its Factory Optimization Software

The industrial AI software company exemplifies the highest standard of security and compliance for customer data

NEW YORK, March 15, 2023 /PRNewswire/ -- Fero Labs, a factory optimization software company, today announced it has achieved System and Organization Controls (SOC 2) Type II compliance. This achievement serves as third-party industry validation that Fero Labs provides enterprise-level security for customer data secured in the Fero Labs system.

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.

Fero Labs was audited by Prescient Assurance, a leader in security and compliance attestation for B2B, SAAS companies worldwide. Prescient Assurance is a registered public accounting firm in the US and Canada and provides risk management and assurance services including but not limited to SOC 2, PCI, ISO, NIST, GDPR, CCPA, HIPAA, and CSA STAR. For more information about Prescient Assurance, you may reach out at [email protected].

To learn more about Fero Labs, please visit ferolabs.com.

About Fero Labs

Fero Labs makes factory optimization software that is powering the next wave of industrial manufacturing. Headquartered in New York, Fero Labs aligns with leading global manufacturers to increase profitability and sustainability at the same time. Since launching in 2015, Fero software has provided industrial customers an average ROI of 233% and saved 200 million pounds of CO2 emissions. Follow us on LinkedIn.

SOURCE Fero Labs

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