Critical Gaps in OT Security Strategies Highlight Need for Integrated and Automated Approach
Tel Aviv, Israel and SANTA CLARA, Calif. – April 5th, 2023 – OTORIO, the leading provider of operational technology (OT) cyber and digital risk management solutions, and ServiceNow (NYSE: NOW), the leading digital workflow company making the world work better for everyone, today released survey results that show an increasing concern for ensuring safe and resilient operations while organizations work to implement more effective OT security strategies.
200 C-level executives and directors in the U.S. and Canada were surveyed to identify key OT cybersecurity challenges and priorities. The research uncovered growing industry concern about cyber threats, with 58% of organizations 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 organizations 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 affect 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 organizations 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 are proud to offer a solution that enables our customers to easily identify and prioritize 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 organizations in their digital transformation journey and provide them with the necessary tools to succeed in an increasingly connected world. The goal of both is 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 organizations 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, prioritizing 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 organizations address today’s most complex regulatory and cybersecurity challenges."
OTORIO has pioneered an industrial-native OT security platform that enables its customers to achieve an integrated, holistic security strategy for industrial control systems (ICS) and cyber-physical systems (CPS). Together with its partners, OTORIO empowers operational security practitioners to proactively manage cyber risks and ensure resilient operations.
The company's platform provides automated and consolidated visibility of the entire operational network, enabling companies to take control of their security posture, eliminate critical risks, and deliver immediate business value across the organization. OTORIO's global team combines the extensive mission-critical experience of top nation-state cyber security experts with deep operational and industrial domain expertise.
ServiceNow (NYSE: NOW) makes the world work better for everyone. Our cloud‑based platform and solutions help digitize and unify organizations so that they can find smarter, faster, better ways to make work flow. So employees and customers can be more connected, more innovative, and more agile. And we can all create the future we imagine. The world works with ServiceNowTM. For more information, visit: www.servicenow.com.
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