OTORIO, the provider of operational technology (OT) cyber and digital risk management solutions, and ServiceNow, the digital workflow company making the world work better for everyone, released survey results showing increasing concern for ensuring safety and resilience operations. In contrast, organisations work to implement more effective OT security strategies.
Two hundred C-level executives and directors in the US and Canada were surveyed to identify key OT cybersecurity challenges and priorities. The research uncovered growing industry concerns about cyber threats, with 58% of organisations identifying their OT cybersecurity risk level as high or critical. However, only 47% of companies surveyed have an OT cybersecurity solution in place, and 81% of respondents still manage OT risks manually in an age when risk management automation is increasingly crucial for efficiency and security. Furthermore, 49.7% of respondents have established a team to develop an OT security strategy but have not yet created the strategy.
The survey also shows that critical infrastructure organisations and manufacturers are not equipped to meet stringent new regulations—and they know it. 93% of respondents experienced a moderate or high increase in regulations and standards that affected them in the past 12 months. As a result, 78% of stakeholders intend to boost their OT cybersecurity budget, with an average increase of 29%.
“ServiceNow is committed to helping organisations address the growing OT cyber and regulatory risks highlighted by the survey,” said Karan Shrivastava, Director of Product Management, OT at ServiceNow. “The findings identify critical gaps in OT security strategies and underscore the need for a comprehensive, integrated, and automated approach to risk management. As a leading digital workflow company, we proudly offer a solution enabling our customers to easily identify and prioritise risks and improve their overall security posture.”
OTORIO and ServiceNow are dedicated to providing comprehensive OT cybersecurity solutions for their respective customers. With their expertise and solutions, the companies are well-positioned to support organisations in their digital transformation journey and provide them with the necessary tools to succeed in an increasingly connected world. Both aim to deliver innovative solutions that help businesses navigate the ever-changing technology landscape and stay ahead of the curve.
“These survey results are concerning because they clearly show that many organisations have significant gaps in their security strategies that put them at high risk of OT cyber-attack,” said Daniel Bren, CEO & Co-Founder at OTORIO. “However, they also suggest that companies are moving towards a proactive approach to cybersecurity, prioritising the protection of their assets and enhancing their security posture. Our industrial-native OT security platform, in combination with ServiceNow, offers a comprehensive solution to help organisations address today’s most complex regulatory and cybersecurity challenges.”