Building Cyber Resiliency
July 19, 2022
Six steps to achieve cyber resiliency in a digital world.
In 2021, manufacturing was ranked as the most targeted industry in the cybersecurity space as attackers sought to exploit unpatched software and capitalize on supply chain delays to pressure organizations into paying a ransom. This year has brought on more of the same — incidents like the February shutdown of Toyota’s factories from an attack on a Japanese supplier and the potential for more nation-state attacks on critical infrastructure amid the war in Ukraine are early examples.
Manufacturers being hit by a cyberattack is no longer a possibility — it’s a near certainty. Consider that nine in 10 manufacturers experienced at least one intrusion into their operational technology (OT) systems in 2020, and that ransomware attacks on industrial entities have increased by more than 500% since 2018.
This high-risk environment means manufacturing leaders need to focus not just on data security and compliance but also on cyber resilience: the ability to keep their business operating when the inevitable attack hits.
Cyber Risks in the M4.0 Era
Given the current geopolitical climate and supply chain vulnerabilities, it’s no surprise that more than half of manufacturing executives (53%) we polled in Q2 said they are increasing their focus on cybersecurity in response. That is good news. But even if supply chains were running smoothly and geopolitical tensions eased, this heightened attention would be critical.
Why? Because in an M4.0 world, there’s a collision happening between 1) the convergence of information technology (IT) and OT technologies and data sharing, the 2) adoption of cloud and remote-enabled technologies, and 3) the rapid evolution and adaptability of threat actors and techniques.
Today’s attackers can penetrate a broader attack surface, exploit new software vulnerabilities, buy ready-made exploitation kits available on the Dark Web, and conduct increasingly sophisticated supply chain attacks. These attacks not only pose significant financial risks but major safety risks.
Sean Duffy is a Senior Principal, Technology, at West Monroe.
David McGraw is a Senior Manager, Consumer & Industrial Products, at West Monroe.
Randal Kenworthy is a Senior Partner, Consumer & Industrial Products, at West Monroe.
