Whitepaper: Digital Operational Resiliency Act: How your IT Service Management (ITSM) solutions can contribute to DORA compliance.
The OpenText whitepaper (WP) in partnership with channel partner, Noesis outlines how organizations can achieve compliance with the EU’s Digital Operational Resilience Act (DORA), focusing on IT Service Management (ITSM) and Configuration Management Database (CMDB) solutions.
DORA, which becomes effective in January 2025, aims to ensure financial institutions can effectively manage and respond to ICT-related incidents and risks. The regulation applies to a wide range of financial entities operating within the EU, including credit institutions, payment providers, investment firms, and crypto-asset service providers.
The WP breaks down DORA’s requirements into five key operational areas:
- ICT risk management
- ICT-related incident management, classification, and reporting
- Digital operational resilience testing
- Managing ICT third-party risk
- Information-sharing arrangements
The WP emphasizes the importance of IT operations management (ITOM) tools in achieving DORA compliance. It outlines a step-by-step approach and presents four key solutions to help organizations meet DORA requirements and while DORA compliance may seem daunting, having the right foundational technologies makes it manageable. The key is maintaining an accurate, up-to-date CMDB that can be leveraged across all aspects of monitoring, response, and incident resolution. It concludes by encouraging organizations to engage with OpenText and its partners to explore how their IT Operations Cloud solutions can support DORA compliance efforts, noting that OpenText can serve as a single, trusted vendor across all required disciplines.