- OTRS survey: Satisfaction with investments in information and cyber security among professionals 20 percent year-over-year globally
- Relief and new challenges thanks to more security tools
- AI hype and regulatory pressure shape selection criteria for software solutions for information and cyber security
Singapore, December 10, 2024 – New security incidents become known every day, and several new IT security regulations are on the horizon. The pressure on companies to prioritize IT security is growing. Globally, information and cyber security professionals’ satisfaction with the funding their area receives has increased by 20 percent year-over-year. However, only 33 percent of those from Malaysia or Australia who were surveyed were satisfied in this year’s “OTRS Spotlight: Corporate Security 2024” study. Among those who are not satisfied, most would like to see more investment in software (36 percent) and infrastructure (27 percent). Next is the desire for more funding for personnel (19 percent), followed closely by a need for more investment in security awareness training (18 percent).
For the study, the software company OTRS Group, in collaboration with the market research company Pollfish, surveyed 476 IT and cybersecurity professionals globally, including 100 in Malaysia/Australia.
“Regionally, in APAC, a PwC survey showed that 84 percent of executives have increased their security budget this year and beyond, giving us a clear indicator of the importance of corporate IT security. We are seeing nationwide and regional collaborations across ASEAN countries to implement security frameworks. In Singapore, for example, the government support has given companies a head start on strengthening their corporate security through innovation,” Daphne Sim, Country Manager Singapore at OTRS Group, highlights.
More security tools take strain off professionals – but also bring new challenges
Parallel to satisfaction with the information and cyber security equipment, the use of various instruments in the security toolkit of professionals has also increased globally. Globally, SIEM (Security Information and Event Management) systems, vulnerability management tools and SOAR (Security, Orchestration, Automation and Response) software are actively used by more respondents than in the previous year (+14, +12 and +6 percent respectively). Those local to Malaysia and Australia who already use SOAR software (51 percent) see the biggest advantages for their SOC (Security Operations Centre) being that it
- enhances the automation of their incident response processes (55 percent)
- makes working with IT easier (47 percent), and
- improves incident tracking and reporting (45 percent).
However, the increasing number of software solutions and tools in use is not just a relief for security teams. Managing and maintaining them brings its own challenges: Above all, Malaysian and Australian respondents complain about integration difficulties (48 percent) and tool complexity (39 percent). Lack of centralized training as well as ensuring clean data are also seen as major challenges when managing multiple tools by many (36 percent each). Despite all this, nearly three quarters (73 percent) are either satisfied or very satisfied with the integration and interoperability of their current security tools.
Software selection influenced by AI trend and regulatory pressure
When selecting new software solutions for information and cyber security, respondents appear to feel the effects of the ongoing trend towards artificial intelligence on the one hand and regulatory pressure on the other. Integration capabilities (45 percent) followed closely by timely security and update patches (42 percent) top the list of selection criteria for respondents in Australia and Malaysia. Compliance and security features (40 percent), functionality (40 percent), and integrated AI functionality (39 percent) round out the top 5 decision criteria. Costs, on the other hand, are only among the most important criteria for just over a third of respondents (37 percent), and on-premise availability for just 18 percent.
Jens Bothe, Vice President information Security of OTRS Group, summarizes: “The fact that more and more decision-makers are recognizing the economic importance and value of IT security and equipping their teams with the appropriate resources is a very welcome, albeit long overdue, development.
However, the survey results also clearly show the obstacles on the way to a higher level of security in companies. On the one hand, by no means all organizations prioritize IT security high enough. In many places, there is still a lack of financial and human resources.
Secondly, software solutions for security teams must not only become easier to use and integrate, but also increasingly support in fulfilling regulatory requirements as well as accelerating and automating processes and measures, for example through AI functionalities. If all these factors are met, security teams have a real chance of protecting their organization from major damage caused by the omnipresent threats and vulnerabilities.”
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About the Survey “OTRS Spotlight: Corporate Security 2024”
The data used is based on an online survey conducted by Pollfish Inc. on behalf of OTRS AG, in which 476 IT and cyber security professionals in the U.S., Germany, Brazil, Mexico, Australia and Malaysia participated between August 22 and September 17, 2024.
Additional results from the third part of the survey can be found in the infographic, which is available for download here.
Results from the first two parts of the survey can be found here:
- Part 1: CrowdStrike Incident Has Shaken Companies Awake: 93 Percent Increased Security Precautions Afterwards
- Part 2: Companies Lack Important Resources for Information and Device Security
About OTRS Group
OTRS Group is the manufacturer and the world’s largest provider of the enterprise service management suite OTRS. It offers companies industry-independent software solutions for structured communication in customer service, IT service management and security management. In addition to the core product OTRS, the security solution STORM ensures efficient cybersecurity incident management and transparent documentation in accordance with standards such as ISO 27001.
Among its customers are Lufthansa, Porsche, BSI (Federal Office for Security in Information Technology), Helios Kliniken, Haribo, Bosch, and TUI Cruises. The company consists of OTRS AG and its five subsidiaries OTRS Inc. (USA), OTRS S.A. de C.V. (Mexico), OTRS Asia Pte. Ltd. (Singapore), OTRS do Brasil Soluções Ltda. (Brazil) and OTRS Magyarország Kft. (Hungary). OTRS AG is listed on the basic board of the Frankfurt Stock Exchange.
For more information, see www.otrs.com.